NOV Inc.
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced carbon footprint through facility consolidation
- Started a new environmental database to collect and monitor environmental metrics
Social Achievements
- 89% of employees were happy with NOV’s COVID-19 communication efforts. 89% of employees felt like NOV provided adequate COVID-19 resources. 86% of employees felt that NOV took appropriate action in response to COVID-19.
- Lowest Total Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR) in NOV history.
- Contributed $1,000,000 to the United Way, $100,000 to the American Heart Association, and $1,000,000 to the University of Texas Engineering building.
- Donated nearly 1,700 computers to Comp-U-Dopt.
Governance Achievements
- Published Anti-Forced Labor Policy and Modern Slavery Statement.
- Implemented globally aligned safety programs (Life Saving Rules, Global Training Courses, Stop Work Authority, etc.).
- 22% female members on the Board of Directors, 11% racially/ethnically diverse members.
Climate Goals & Targets
Environmental Challenges
- Maintaining accessibility and reliability of energy sources while transitioning to low-carbon energy.
- Data aggregation methodology assessment for emissions data accuracy.
Mitigation Strategies
- Developing proprietary solutions to improve project execution, drive higher capital returns, and lower the levelized costs of renewable energy.
- Assessing data aggregation methodology to ensure accuracy.
Supply Chain Management
Responsible Procurement
- Strict zero-tolerance approach to modern slavery and human trafficking.
Climate-Related Risks & Opportunities
Opportunities
- Improving the economic competitiveness of renewable energy.
Reporting Standards
Frameworks Used: GRI
Certifications: ISO 45001:2018, ISO 140001:2025
Sustainable Products & Innovation
- PowerBlade™ KERS
- Ideal eFrac™ fleet
- Composite Solutions
- Digital Solutions
- Tri-Floater semi-submersible floating foundation
- Chopper Hopper™
- Generation Zero carbon capture technology
- Hydrogen injection technology