Dril-Quip, Inc.
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:233,307 tCO2e/year (Scope 1, 2, and 3 Location-Based)
Scope 1 Emissions:3,724 tCO2e/year
Scope 2 Emissions:8,161 tCO2e/year
Scope 3 Emissions:220,552 tCO2e/year
Renewable Energy Share:5% of total energy use
Total Energy Consumption:36,371 MWh/year
Water Consumption:33,564 m3/year
Waste Generated:6,990 tons/year
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental Stewardship
- Workforce Empowerment
- Community Engagement
Environmental Achievements
- Reduced total waste by 59%
- Reduced metal waste by 72%
- Reduced water usage by 63%
- Increased water recycled by 29%
- Zero industry-recognized spills of 55 gallons or greater over the last five years
- Reduced soil contaminations at major property locations from nine in 2015 to zero in 2020
- VXTe™ Vertical Subsea Tree System reduces carbon footprint by more than 1,000 metric tons per installation
Social Achievements
- Launched new performance management approach focusing on defining goals, discussing feedback, and development
- Increased percentage of females in management roles from 2020 to 2021
- 27% of employees hired in 2021 self-identified as part of a minority group
- Increased representation of Asian, Black, and Hispanic employees
- 25% of global hires in 2021 were female
- 42% of training programs in 2021 focused on safety awareness and on-the-job safety
- All ISO Certification audits ended with zero major findings
- Employee participation in Habitat for Humanity projects
Governance Achievements
- Six of seven directors are independent
- Zero revenues from countries with the 20 lowest rankings in Transparency International’s Corruption Perceptions Index
- Maintains an Anti-Corruption Policy and conducts training for all employees
- Conducts anti-corruption and bribery due diligence on certain third parties
- Complies with TCFD framework
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Reduce combined Scope 1 and Scope 2 emissions by more than 50% between 2021 and 2030
Short-term Goals:
- Not disclosed
Environmental Challenges
- Reducing Scope 3 emissions
- Data capture for all leased assets
Mitigation Strategies
- Engaging with key suppliers to reduce upstream emissions
- Partnering with customers to develop emissions-reducing solutions
- Working to ensure data capture for all leased assets going forward
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather
- Hurricanes
- Flooding
Transition Risks
- Energy regulation
- Carbon pricing
- Loss of business
- Higher costs
- Technology transition
- Lower demand
- Product oversupply
- Loss of customers and suppliers
- Difficulties accessing funding
Opportunities
- Resource efficiency
- Energy sourcing
- New product development
- Access to new markets
- Recycling
- Waste management
- Energy efficiency
- Renewable sourcing
- Distributed energy sourcing
- Diversification of the business
- Carbon storage
- Geothermal
Reporting Standards
Frameworks Used: Greenhouse Gas Protocol (GHGp), ISO 14064-1, SASB, TCFD, UN Global Compact
Certifications: API Q1 and Q2, ISO 9001, ISO 14001, ISO 45001
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 4 (Quality Education)
- SDG 5 (Gender Equality)
- SDG 7 (Affordable and Clean Energy)
- SDG 13 (Climate Action)
Initiatives such as community involvement, STEM education, employee engagement, energy efficiency, and low-carbon solutions contribute to these goals.
Sustainable Products & Innovation
- e-Series products
- VXTe™ Vertical Subsea Tree System
Awards & Recognition
- Not disclosed