The recent meeting of the Physical Committee discussed several items, the key focus areas as outlined below:
GBI/RPF Costs and Implementation
The Executive discussed the financial strategies to support the GBI solution. The selection process for vendors were highlighted, with a decision expected by the end of March.
Strategic Deliverables for 2024
Brief summaries of deliverables for 2024 were discussed, focusing on progress and future plans.
GDL Applications and Enquiries
The Committee reviewed various applications and enquiries, addressing chokeholds, and proposed changes to the application process to manage these.
Responsible Sourcing
Updates included discussions on the Amazon Aid Report, the Executive’s engagement with assurance providers ahead of the peak of assurance engagements taking place.
Proactive Monitoring
The Committee also discussed potential rule changes for refineries undergoing four-nines testing.
Other discussions included the re-election of the Chair and Vice Chair, and personnel changes within the Committee, including secondments and replacements.
If you have any issues or questions that you feel should be discussed by the Physical Committee, then please contact varsha.peiris@lbma.org.uk.