Trading materials the energy transition still runs on.

Copper, aluminium, nickel and manganese are direct inputs to electrification. Coal and refined products remain in demand across power generation and heavy industry in the markets we serve.

The agricultural book feeds people and livestock, and carries a land-use question the other desks do not. Palm, soy, cocoa and coffee are traded against a supply chain where the relevant harm is what was cleared to plant the crop.

We do not claim any of these categories is something other than what it is. We do commit to handling each to the standard that regulators, financiers and communities expect.

Suppliers are assessed on environmental permitting, tailings and waste management, labour practice and community consultation before onboarding.

Higher-risk origins are subject to site visits and periodic reassessment. Where a supplier will not provide access, we do not trade the material.

The agriculture desk trades palm, soy, cocoa and coffee — four of the commodities covered by the European Union's deforestation regulation. Geolocation to the plot of origin is recorded at load rather than inferred from a certificate afterwards.

Certification schemes are used where a buyer requires them, and treated as a commercial specification rather than as evidence of land-use history. Material we cannot trace to plot is sold into non-EU destinations or not bought at all.

Freight is the dominant source of emissions in our operations. We account for voyage emissions on chartered tonnage and factor vessel efficiency into fixture decisions.

Office operations are a small share of the total and are reported alongside freight rather than in place of it.

We prohibit forced, bonded and child labour across our operations and supply chain, and require the same of counterparties as a contractual term.

Reports of suspected breaches can be raised confidentially through the compliance contact on this site and are investigated independently of the commercial desks.