Tristar CEO urges corporate boards to make sustainability a top board item

Tristar Group CEO Eugene Mayne reiterated in a recent global business gathering in London that a great majority of CEOs have begun recognizing 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 organized 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.

Tristar is a global business offering end-to-end fuel logistics solutions to blue-chip clients including international and national oil companies and intergovernmental organizations. One of its missions is to ‘place being a business for purpose on equal priority as being a business for profit’.

Mayne added: “Sustainability must be embraced by every industry on a global scale, and I would like to higlight 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 Net Zero goals.”

In the evening of the same day, Tristar Group Chief Administrative Officer Balaji Nagabhushan received the Golden Peacock Global Award for Sustainability which is the 7th 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 recognizes the achievements of the best performing organizations and has become a benchmark of corporate excellence globally.

Balaji Nagabhushan, who is the chairman of Tristar’s ESG Committee, shared on the next day the sustainability journey of the company especially its safety culture being promoted among its heavy duty truck drivers and maritime crew members. Tristar’s integrated energy logistics platform spans road and maritime transportation, specialized warehousing, fuel farms, commercial aviation refueling, and remote fuel supply operations.

The 4-day event which started on November 9 was attended by business owners, policy makers, academicians and professionals in business, finance, corporate governance and sustainability. Mayne and Balaji were accompanied by Tristar Senior Manager for Corporate Communications Arthur Los Banos.

Source: Press release