Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safe and healthy attendances
• Business ethics, anti-corruption, and transparency
• Staff acquisition and retention
• Customer satisfaction
• Diversity and equality
• Sustainable markets
• Energy Transition and climate

Environmental Achievements

• Updated OHS Policy to Integrated Quality, Health, Safety and Environmental Policy
• Global external certification audit in line with the requirements of ISO 45001: 2018 and ISO 9001: 2015, and intended to extend the scope to include the ISO 14001: 2015 across all offices by the end of 2021
• Colleagues spent a day at a local biodiversity site, supporting a charity

Social Achievements

• Roll out of Equality and Diversity Training to all AqualisBraemar staff
• CEO made a pledge to all staff re-stating the company values and the importance of giving equal opportunities to all
• Revised and re-issued Equal Opportunities Policy
• Celebrated International Women in Engineering Day (INWED20)
• Enrolled a female member of staff into GWEC’s development program Women in Wind
• Implemented more structured polices around flexible working and working from home
• Pro-active approach to the COVID-19 pandemic to ensure the health and safety of our employees and stakeholders
• Enhanced maternity package (5 members of staff took maternity leave in 2020)
• 7 paternity leaves taken in 2020
• 11 staff members reached their 10-year anniversary with the company and 2 reached their 20-year milestone in 2020
• Company benefits are regularly reviewed to remain attractive to existing and new employees
• Teams across the globe took part in a sports challenge raising funds to support Sailor’s Society, charity supporting seafarers and seamen across the world (raised over £1,400)

Governance Achievements

• Became a signatory of the United Nations Global Compact
• Reviewed and revised core policies (Human Rights Policy Statement, Workplace Harassment Policy)
• Updated AqualisBraemar LOC Way of Doing Business – Corporate Code of Ethics and Business Conduct
• Created and published a Whistleblowing Policy
• Total of 565 users were registered on the Ethics and Compliance training platform. On average, each employee spent 1.5hr completing the anti-bribery and corruption training.

Climate Goals & Targets

Environmental Challenges

• Increase in slips, trips and falls incidents
• Challenging market conditions in the oil & gas industry
• COVID-19 pandemic and its impact on ways of working
• Inequalities in the engineering sector

Mitigation Strategies

• Aim to reduce slips, trips and falls incidents through internal training and coaching
• Focus on greater reporting of observations and low risk near miss incidents to increase staff awareness
• Introduction of HELP (Hazard Elimination and Learning Program) system
• Increase environmental awareness and responsibilities of staff
• Proactive approach to COVID-19 pandemic (encouraging staff to stay home, virtual meetings, restricting travel, “Return to Work” guide)
• Continually work on attracting more female talent and ensuring flexible working conditions

Supply Chain Management

Responsible Procurement

• Extending code of conduct and workplace harassment policy to subcontractors and suppliers

Climate-Related Risks & Opportunities

Opportunities

• Growth in renewables business

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 45001: 2018, ISO 9001: 2015

Third-party Assurance: LRQA

UN Sustainable Development Goals

• SDG 3
• SDG 5
• SDG 7
• SDG 13
• SDG 14
• SDG 17

The report details how various initiatives contribute to these goals.

Sustainable Products & Innovation

• Developing 2 new services that help achieve sustainable operations

Environmental Metrics

ESG Focus Areas

• Diversity, Equity and Inclusion (DE&I)
• Environment
• Governance
• Energy Transition and Climate
• Sustainable Markets
• Customer Satisfaction
• Staff Acquisition and Retention
• Safe and Healthy Attendances
• Business ethics, anti-corruption, and transparency

Environmental Achievements

• Completed the implementation and accreditation of a group-wide environmental management system according to EN ISO 14001:2015.
• Achieved 17% revenue growth (2021 v 2022) in renewables bringing renewables share from 27% to 29% (2021 v2022) of group revenues
• Worked on over 131 wind projects, mainly offshore wind with a total potential capacity of 224 GW which would potentially displace 784 Mt CO2 of unabated coal, or 358 Mt CO2 of unabated gas depending on the electricity mix of the specific market
• Supported over renewable energy projects in 26 countries; including many developing countries
• Working on numerous green hydrogen projects and work related to decarbonising the maritime sector which accounts for 6% of global emissions

Social Achievements

• OWC partnered with STEM Returners, resulting in two successful candidates being offered full-time positions.
• Set up a Diversity, Inclusion and Wellness Committee.
• Launched a mentorship scheme with 60 employees participating.
• Introduced the Ian Bonnon award to celebrate emerging young talent.
• Luany Dantas selected for the Women in Wind Global Leadership Program.
• ABL Group becomes a signatory of the Neptune Declaration on Seafarer Wellbeing.
• Group-wide support for the Mission to Seafarers.
• Participation in the OSCAR Dragon Boat Race, raising money for charity.
• OWC engaged with Business Volunteers for various community initiatives.

Governance Achievements

• Established a standalone ESG Department.
• Set up a number of ESG Committees.
• Implemented corporate governance principles endorsing and complying with the Norwegian Accounting Act (§ 3-3b) and the Norwegian Code of Practice for Corporate Governance (Code of Practice).
• Improved anti-corruption monitoring and reporting (85% training completion).

Climate Goals & Targets

Environmental Challenges

• Reducing offshore oil and gas market over the medium to long-term due to the energy transition driven by Paris Climate Agreement
• Overexposure to clients with negative ESG profiles such as oil and gas
• Market pressure to measure and improve our own ESG performance
• Commuting by car and business travel by airplane pose the biggest challenge to Innosea’s carbon footprint
• Increasing inflation, rising salaries, talent scarcity, and excessive project demands

Mitigation Strategies

• Establishment of our ABL2030 ESG strategy
• Diversification into more sustainable market segments such as offshore wind, onshore renewables and maritime sectors such as insurance, adjusting, shipping, expert witness, Yachts, and Ports and Harbours
• Targeting 50% of our group revenues from renewables and other energy transition or sustainability-driven revenues by 2025
• Accreditation of our operations to BS EN ISO 140001:2015
• The creation of the position of Chief Energy Transition Officer on our executive team
• Decrease total emissions produced by business travel by 30% by January 2024
• Decrease commute emissions per employee by 15% based on 2019 levels by January 2023, and 30 % by 2025
• Keep total electricity emissions constant based on 2019 levels until January 2023
• Professionalisation and specialisation of management and support functions
• Cost synergies, economy of scale
• Capital efficiency
• Market reach and service offering
• Alignment of incentives between employees and shareholders

Supply Chain Management

Responsible Procurement

• Code of Conduct

Climate-Related Risks & Opportunities

Transition Risks

• Reducing offshore oil and gas market over the medium to long-term due to the energy transition driven by Paris Climate Agreement
• Overexposure to clients with negative ESG profiles such as oil and gas

Opportunities

• Growth in renewables and energy transition sector

Reporting Standards

Frameworks Used: GRI, UNGC

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

Third-party Assurance: LRQA

UN Sustainable Development Goals

• SDG 7
• SDG 13
• SDG 14

Supporting the deployment of low-cost renewable energy and decarbonization efforts.

Environmental Metrics

ESG Focus Areas

• Diversity, Equity and Inclusion (DE&I)
• Environment
• Governance

Environmental Achievements

• Achieved a bronze medal from EcoVadis, placing in the top 37% of companies assessed globally.
• Implemented a pilot emissions tracking program.
• Innosea reduced commute emissions per employee by 37.5% from 2019 levels.
• Introduced Virtual Business Cards to reduce paper waste.

Social Achievements

• Trained 16 Mental Health First Aiders.
• Launched a group-wide diversity and inclusion survey.
• Rolled out a group-wide HR platform to better track and report on diversity.
• Implemented mandatory Diversity & Inclusion training for all employees.
• Launched a mentorship program with over 200 mentor-mentee relationships.
• Established a Shadow Board to drive strategic initiatives.
• Participated in various CSR initiatives including volunteering, fundraising, and STEM outreach.

Governance Achievements

• Established a company-wide Integrated Quality, Health, Safety, and Environmental management system.
• Recertified to ISO 9001: 2015, ISO 14001: 2015, and ISO 45001: 2018.
• ABL Germany awarded Safety Culture Ladder – Step 3 certification.
• Updated Code of Conduct to include new sections on human rights.
• Published first report on the Norwegian Transparency Act.
• Improved anti-corruption training completion rate to 96%.

Climate Goals & Targets

Environmental Challenges

• Macroeconomic challenges impacting growth and profitability.
• Inflationary pressures and rising costs.
• Geopolitical risks impacting operations in various jurisdictions.
• Increased cyber-attacks.
• Health and safety hazards in the industry.
• Increasing compliance requirements.
• ESG and climate change related risks, including exposure to clients with negative ESG profiles.

Mitigation Strategies

• Well-diversified portfolio of services and global footprint.
• Proactive cost management.
• Tight management of receivables.
• Strong balance sheet and operational performance.
• Ongoing travel and security risk assessments, crisis management, and continuous monitoring of geopolitical developments.
• IT governance framework based on ISO27001, cyber security training, and regular monitoring and updates of IT infrastructure.
• 'Zero harm' goal, up-to-date HSE management system, standards, guidelines, and risk management programs.
• Code of Conduct and associated policies and procedures to address anti-bribery, data protection, modern slavery, and human rights.
• Diversification into more sustainable business segments.
• Improvements to environment and carbon emissions monitoring and reporting.
• Dedicated team and processes to manage future M&As.

Supply Chain Management

Responsible Procurement

• ABL Group Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 31000, Greenhouse Gas Protocol, UN Global Compact, EU Taxonomy

Certifications: ISO 9001: 2015, ISO 14001: 2015, ISO 45001: 2018, EcoVadis Bronze Medal, Safety Culture Ladder – Step 3 (ABL Germany)

Third-party Assurance: LRQA, PwC

UN Sustainable Development Goals

• Clean Water & Sanitation
• Industry, Innovation & Infrastructure
• Reduced Inequalities
• Responsible Consumption & Production
• Life on Land

ABL Group aligns its strategic objectives with the identified SDGs through its sustainability initiatives and projects.

Awards & Recognition

• EcoVadis Bronze Medal
• Safety Culture Ladder – Step 3 (ABL Germany)