The International Bunker Industry Association (IBIA) is creating the “IBIA Guide to Best Ethical Practice” to promote ethic in the bunker industry, according to CEO Justin Murphy, as quoted during the ARACON conference in Rotterdam on October 12.
As Mr. Murphy noted, the bunker industry, as the servant of shipping, powers global trade, bringing prosperity to every corner of the globe. The majority of the industry players operates ethically, but there are times when a darker side to the industry is hinted at or revealed.
Mr Murphy had previously made an introduction to ‘ethics’ by defining it as a moral code of conduct. ”Establishing a guide to ethical best practice could help focus our minds on the positives, not just the negatives. The goal is to create an ethical code of conduct which encompasses the entire bunker industry value chain.”, he commented during a conference in May this year.
At ARACON conference, Mr. Murphy underlined that licenses are being revoked and, in some instances, the survival of some companies is under threat, due to some individuals’ illegal, unethical actions.
However, he added, what is ironic is that there is compelling evidence that ethical businesses are more profitable than others. In addition to enjoying a healthier bottom line, they offer numerous other benefits:
- Ethical companies are perceived as positive role models in society
- Ethical companies become trusted business partners
- Ethical companies have improved levels of customer and employee loyalty
- Acting ethically has a positive effect on a company’s brand value.
“…The bunker industry is a family and like all families there are times when we face difficult circumstances. The best way to manage these difficult times is by discussing the key issues openly – in a constructive, pragmatic way – and solving them together.”
In view of this, IBIA has engaged a number of its members in a Working Group and is trying to develop the “IBIA Guide to Best Ethical Practice”, which will:
- Create an ethical code which encompasses the entire bunker industry value chain,
- Develop an IBIA Ethics & Compliance Accreditation programme,
- Clarify the relationship between Ethics, Anti-Corruption, Sustainability and CSR,
- Highlight success stories within the bunker and maritime industry.
Concluding, Mr. Murphy said: “…Although we are pragmatists at IBIA, we are also optimists and we are confident that the bunkering industry will improve its image and be perceived as a good corporate citizen.”
