Tristar call to prioritise sustainability
CEO EUGENE MAYNE URGES INDUSTRIES WORLDWIDE TO MAKE THE CONCEPT A TOP BOARD ITEM
TNot so long ago, sustainability was a token item on Board agendas to balance the social and environmental price of profit. Today, it is – and should be – the top item because profit will not be possible without it. Business will not survive in a world in which people don’t.”
Eugene Mayne | Tristar Group CEO
ristar Group CEO Eugene Mayne reiterated in a recent global business gathering in London that a great majority of CEOs have begun recognising that environmental, social and governance (ESG) as well as sustainability issues are now guiding corporate strategies of forward-looking companies.
In his keynote address on sustainability on November 10 in London at the 2022 Annual Global Convention on Corporate Governance and Sustainability organised by the Institute of Directors (IOD), India, Mayne also mentioned that aside from shareholders other stakeholders such as customers, partners, suppliers and the public at large are also crucial for long-term prospects.
“Not so long ago, sustainability was a token item on Board agendas to balance the social and environmental price of profit. Today, it is – and should be – the top item because profit will not be possible without it. Business will not survive in a world in which people don’t,” he said.
“Sustainability must be embraced by every industry on a global scale, and I would like to highlight the efforts of the oil, gas and utilities sectors which I personally represent. Many traditional oil and gas companies have transformed so much to the point they now consider themselves energy companies, mobility companies, or even retail companies as they diversify and expand with innovative business models and netzero goals.”
The same day, Tristar Group Chief Administrative Officer Balaji Nagabhushan received the Golden Peacock Global Award for Sustainability, the seventh award the IOD has given to the company. Tristar has won four Corporate Social Responsibility and two Occupational Health & Safety awards since 2019. The Golden Peacock Award recognises the achievements of the best performing organisations and has become a benchmark of corporate excellence globally.
Balaji, who is the chairman of Tristar’s ESG Committee, shared the sustainability journey of the company, especially its safety culture being promoted among its heavy-duty truck drivers and maritime crew members.
The four-day event which started on November 9 was attended by business owners, policy makers, academicians and professionals in business, finance, corporate governance and sustainability.
Tristar’s integrated energy logistics platform spans road and maritime transportation, specialised warehousing, fuel farms, commercial aviation refuelling, and remote fuel supply operations. The group offers end-to-end fuel logistics solutions to clients.