Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic
• Social
• Environmental
• Safety

Environmental Achievements

• Broadened reporting on carbon emissions to include decentralized floating equipment and Lamnalco fleet.
• Reported on energy consumption of larger office locations.
• Became the first company in Europe to use a hybrid bulldozer.
• Successfully relocated over 140,000 coral colonies in Jamaica.
• Maasvlakte 2 project showed that carbon emissions from dry earthmoving equipment are insignificant compared to vessels.

Social Achievements

• Launched NINA safety program.
• Amandla Marine (SMIT's SED program) awarded 55 scholarships and provided training to unemployed South Africans.
• Supported various good causes through voluntary work and donations.
• Improved LTIF in Dredging & Earthmoving to 0.67 (from 0.74 in 2009) and at Lamnalco to 0.03 (from 0.04 in 2009).
• Implemented Q-Aid SHE-Q management system.

Governance Achievements

• Completed merger with SMIT Internationale N.V.
• Made a voluntary contribution of €30 million to the SMIT pension fund.
• Improved internal data reporting lines and started compiling a reporting manual.

Climate Goals & Targets

Environmental Challenges

• Mutual alignment of processes, systems, and reporting following the merger with SMIT.
• Absence of a uniform standard for carbon emissions and differences in legislation across operating countries.
• Cultural diversity in an internationally operating organization.

Mitigation Strategies

• Intensive work by 10 working groups to develop integration plans.
• Ongoing efforts to harmonize safety systems and reporting.
• Increased dialog with suppliers on sustainability.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Dialog with suppliers on sustainability.
• Joint research into sustainable solutions (e.g., hybrid tug, sustainable lubricants).

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels (impacting island projects)

Transition Risks

• Stricter international regulations on emissions.

Opportunities

• Development of energy-efficient products and services.

Reporting Standards

Frameworks Used: GRI G3

Certifications: ISM, ISO 9001, ISO 14001, OHSAS 18001 or VCA (Dutch companies), ISO 14001 (Lamnalco)

Third-party Assurance: Not disclosed

Sustainable Products & Innovation

• Hybrid bulldozer
• New fallpipe vessel with diesel-electric powering
• Research into hybrid tug using LNG as fuel

Awards & Recognition

• IADC Safety Award
• Safety bonus for Maasvlakte 2
• Certificate of Recognition for Khalifa Port employee accommodation
• DSE Certificate from NPCC
• Award for NCIG Coal Export Terminal
• Safe Contractor of the Month
• Environment Protection Award (Khalifa Port)

Environmental Metrics

ESG Focus Areas

• Safety
• Sustainability

Environmental Achievements

• Further decline in LTIF figure from 0.7 (2010) to 0.3 per 200,000 hours worked.
• Sustainable scrapping of older dredging vessels adhering to strict environmental standards.
• Development of a concept for deep-sea mining of phosphates in New Zealand.

Social Achievements

• Wide introduction of the NINA (No Injuries, No Accidents) safety program across the organization.
• Integration of Boskalis and SMIT organizations and activities proceeding well.
• Successful completion of several maritime infrastructure projects in Brazil.

Governance Achievements

• Successful integration of Boskalis and SMIT, achieving synergy benefits.
• Completed acquisition of MNO Vervat, strengthening infra and dry earthmoving activities.
• Sale of SMIT Terminals to Lamnalco, creating a new global leader in terminal services.

Climate Goals & Targets

Environmental Challenges

• Geopolitical tensions, natural disasters, euro crisis, and turbulent global financial situation affected activities.
• Growing reluctance from clients due to increasing uncertainty surrounding the global financial situation.
• Pressure on volumes and prices in markets.

Mitigation Strategies

• Fleet rationalization program continued, taking several ships out of service.
• Focus on growth markets: Energy, Ports and Infra.
• Successful integration of SMIT activities, optimizing and reinforcing combined knowledge and expertise.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Global Reporting Initiative (G3-1)

Sustainable Products & Innovation

• Eco-dynamic designs
• Environmentally friendly equipment

Environmental Metrics

ESG Focus Areas

• Social Performance
• Environmental Performance
• Societal Performance
• Economic Performance

Environmental Achievements

• Successfully implemented initial designs of the Building with Nature innovation program (Sand Motor)
• Participation in the CDP (Carbon Disclosure Project) for the first time
• Progress towards an industry standard for expressing carbon dioxide emissions on dredging works
• Achieved certification for level 5 of the CO2 performance ladder (highest level attainable) in the Netherlands.

Social Achievements

• Further decline in Dredging Lost Time Injury Frequency (LTIF) from 0.3 in 2011 to 0.2 per 200,000 hours worked in 2012.
• Successful integration of SMIT in 2012
• Additional voluntary commitment to the Boskalis pension fund to increase its funding ratio.
• Wide range of training and development opportunities for employees (174,870 hours in 2012).

Governance Achievements

• GRI application level B reporting achieved for the first time.
• Revised Statement of General Business Principles to reflect the UK Bribery Act.
• Implementation scans of the code of conduct at 20 suppliers.

Climate Goals & Targets

Environmental Challenges

• Temporary stagnation caused by economic uncertainty
• Implementing NINA safety program with joint venture partners and subcontractors
• Incorporating temporary and local employees on projects with less safety awareness into the NINA program
• Dealing with locally available equipment that fails to meet technical standards
• High staff turnover due to project-based nature of activities and sale of SMIT Terminals
• Lack of a clear measuring standard for CO2 emissions per production unit
• Ensuring sustainable dismantling of ships

Mitigation Strategies

• Developing new training courses and methods for embedding NINA deeper into thoughts and actions
• Harmonizing management systems and conducting internal audits for NINA implementation
• Investing in training local workers to meet quality requirements
• Working with others in the dredging sector to reach agreement on an industry standard for CO2 emissions per production unit
• Tightening policy regarding ship dismantling to require hard subsoil or dry dock facilities
• Investing in a yard in Mexico to raise its level to comply with Boskalis standards

Supply Chain Management

Supplier Audits: Implementation scans at 20 suppliers in 2012

Responsible Procurement

• Supplier Code of Conduct incorporating sustainability criteria
• Sustainability criteria considered in supplier selection
• Joint sustainability initiatives with suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI (version G3.1), application level B

Certifications: ISO 14001, OHSAS 18001, VCA (for Dutch companies), ISO 9001, ISM

Awards & Recognition

• Various safety awards (Angola LNG project, RoSPA Gold Award, etc.)

Environmental Metrics

ESG Focus Areas

• Safety
• Employee Development
• Environmental Performance
• Societal Performance
• Economic Performance

Environmental Achievements

• Renewed certification for the highest level on the CO2 performance ladder (Netherlands)
• Successful application of eco-engineering in various projects (Sand Motor, Jamaica coral relocation, Gabon industrial area construction)
• Initiatives for cleaner fuels and energy-saving measures on equipment
• Sustainable ship dismantling policy recognized as industry leader by NGO Shipbreaking Platform

Social Achievements

• Lost Time Injury Frequency (LTIF) fell from 0.26 (2012) to 0.11 (2013)
• Increased number of safety hazard observations and near misses reported, indicating improved safety awareness
• Financial support provided to 70 employees in the Philippines affected by Typhoon Haiyan
• Extensive training and development programs for employees, including a new offshore development program
• Successful integration of MNO Vervat and ongoing integration of Dockwise

Governance Achievements

• Supplier Code of Conduct applicable to 76% of purchasing volume (up from 68% in 2012)
• Annual implementation scans of supplier Code of Conduct
• Socially Responsible Procurement training for buyers
• Meet the Buyer sessions generating chain initiatives for sustainability
• First maritime service provider to sign the NEVI Manifesto for Sustainable Procurement

Climate Goals & Targets

Environmental Challenges

• Relatively high-risk profile of activities
• Economic feasibility of environmentally friendly fuels
• Balancing economic value creation with environmental and social responsibility
• Integration of acquired companies (SMIT, MNO Vervat, Dockwise)
• High risk areas for vessel transits (Gulf of Aden, Indian Ocean)

Mitigation Strategies

• Progressive global safety program (NINA)
• Research into technical applicability of cleaner fuels
• Collaboration with clients and suppliers for sustainable solutions
• Structured integration process involving Works Councils
• Armed protection for vessels transiting high-risk areas

Supply Chain Management

Supplier Audits: Annual implementation scans

Responsible Procurement

• Supplier Code of Conduct
• Socially Responsible Procurement training for buyers
• Meet the Buyer sessions

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Application 3.1 Level B

Certifications: ISM, ISO 9001, ISO 14001, OHSAS 18001, VCA (Netherlands)

Third-party Assurance: Bureau Veritas UK (for safety data)

Awards & Recognition

• Certificate of Achievement (Suriname)
• Royal Society for the Prevention of Accidents Gold Award (SMIT UK and Boskalis Westminster Limited)
• Recognition Letters from Saipem (Ichthys project)
• INPEX Safety Recognition Award (Baldur crew)

Environmental Metrics

ESG Focus Areas

• Safety
• Supply Chain Sustainability
• Environmental Performance
• Eco-engineering
• Social Responsibility
• Employee Development

Environmental Achievements

• Reduced LTIF by 87% from 0.67 to 0.09 in 2014.
• Sustainable dismantling of cutter suction dredgers Mercurius, Para, and Amstel.
• Investment of EUR 500,000 in Building with Nature program.
• Recognition as industry leader for sustainable ship dismantling program by NGO Shipbreaking Platform.
• Won the 2014 Dutch Sourcing Award for sustainable procurement initiatives.

Social Achievements

• Implementation of NINA (No Injuries No Accidents) safety program, reducing accident rate.
• Introduction of new divisional structure with employee involvement.
• Boskalis Beach Cleanup project awarded the SponsorRing in the Society category.
• Successful integration of SMIT, Dockwise, and Fairmount.
• 144,547 workforce training/development hours.

Governance Achievements

• Annual evaluation of CSR policy.
• Preparation for reporting in accordance with GRI4 guidelines.
• Implementation of a new standard agreement for agent contracts.
• Revised agent contracts after assessment in 2013.

Climate Goals & Targets

Environmental Challenges

• High safety risk profile of activities.
• Economic uncertainties.
• Need for sustainable solutions in maritime infrastructure.
• Ensuring supply chain sustainability.
• Managing risks associated with operations in high-risk areas (e.g., piracy).

Mitigation Strategies

• Implementation of NINA safety program.
• Intensification of dialogue with second-line suppliers.
• Annual implementation scans of suppliers.
• Assistance and advice to suppliers with sub-standard scores.
• Armed protection for Dockwise vessels in high-risk areas.
• Meet the Buyer program to foster innovation and sustainability in the supply chain.

Supply Chain Management

Supplier Audits: Approximately 20 suppliers annually

Responsible Procurement

• Supplier Code of Conduct
• Annual implementation scans
• Assistance and advice to suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI G3-1, Level B

Certifications: ISM, ISO 9001, ISO 14001, OHSAS 18001, VCA

Third-party Assurance: Bureau Veritas (limited assurance for selected indicators)

Sustainable Products & Innovation

• Strong rock cutter
• 3D man-made reefs

Awards & Recognition

• 2014 Dutch Sourcing Award
• SponsorRing for Beach Cleanup project
• Various safety awards

Environmental Metrics

ESG Focus Areas

• Impact on local communities
• Impact on the environment and the natural surroundings
• Care for human capital
• Responsible business conduct

Environmental Achievements

• CO2 emissions reduced from 1,608,000 tons in 2014 to 1,521,000 tons in 2015.
• Launched a two-year biofuel pilot program aimed at reducing emissions.
• Achieved the highest level (5) on the CO2 Performance Ladder in the Netherlands for the fourth consecutive year.
• Marker Wadden nature restoration project awarded.
• Pilot project involving 3D printed reefs in Monaco started.

Social Achievements

• Lost Time Injury Frequency (LTIF) decreased from 0.09 in 2014 to 0.08 in 2015.
• Total Recordable Injury Rate (TRIR) introduced as a new KPI.
• Number of interns, graduates, and doctorate students: 201.
• Boskalis Beach Cleanup Tour.
• Socio-economic development program in South Africa continued.

Governance Achievements

• Introduction of a single quality standard for socially responsible procurement for the Dutch maritime sector initiated with MVO Nederland (CSR Netherlands).

Climate Goals & Targets

Environmental Challenges

• Low oil prices and a decline in global demand for commodities.
• Complexities in measuring CO2 emissions due to diverse vessel types, fleet utilization levels, and project-specific factors.

Mitigation Strategies

• Focus on value-adding assets and specific market segments.
• Tightening up the organization and rationalizing it in places.
• Collaboration with authorities and industry associations to develop realistic and broadly supported regulations for emissions.
• R&D into emission reductions through innovations, energy saving, and alternative fuels.

Supply Chain Management

Supplier Audits: Annual implementation scan of approximately 10% of strategic suppliers.

Responsible Procurement

• Supplier Code of Conduct based on Boskalis' Statement of General Business Principles.

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels
• Coastal erosion
• Extreme weather events
• Flooding

Transition Risks

• Changes in national and international legislation and regulations on emissions.

Opportunities

• Providing sustainable adaptive and mitigating solutions (flood protection, renewable energy).

Reporting Standards

Frameworks Used: GRI G3.1

Certifications: ISO 14001, OHSAS 18001, ISO 9001, VCA (for Dutch operations)

Third-party Assurance: Bureau Veritas

Sustainable Products & Innovation

• Building with Nature solutions
• Ultrafine filtration oil-cleaning system (pilot project)
• Sustainable drop-in biofuel

Awards & Recognition

• Highest level (5) on the CO2 Performance Ladder
• 71st out of 485 companies in the Transparency Benchmark
• Prof. dr. ir. J.F. Agema Prize for the Second Maasvlakte project
• Various safety awards

Environmental Metrics

ESG Focus Areas

• Impact on local communities
• Environmental impact
• Care for human capital
• Responsible business conduct

Environmental Achievements

• Successful Building with Nature program, including the Marker Wadden nature restoration project and Griend nature preservation project.
• Biofuel pilot program achieving good results with reduced emissions.
• Achieved the highest level (5) on the CO2 Performance Ladder in the Netherlands.
• Reduced CO2 emissions from 1.52 million tons in 2015 to 1.25 million tons in 2016.

Social Achievements

• Launched a Social Impact program focusing on employee awareness, risk evaluation, and consistent application of social impact principles.
• LTIF (Lost Time Injury Frequency) fell significantly from 0.67 in 2010 to 0.08 in 2016.
• TRIR (Total Recordable Injury Rate) decreased from 0.70 in 2015 to 0.66 in 2016.
• Implemented the Mooring and Safe Mind workboxes for practical safety training.
• EUR 500,000 in sponsorship and donations in the Netherlands.

Governance Achievements

• Updated materiality matrix based on stakeholder dialogue.
• Developed a new uniform quality management system: the Boskalis Way of Working.
• Appointed Ms. Ilona Haaijer to the Supervisory Board.

Climate Goals & Targets

Environmental Challenges

• Market stagnation and rationalization leading to fleet reduction.
• Limited influence on infrastructure investment decisions.
• Absence of industry standard for CO2 reduction targets.
• Voluntary use of costly environmentally-friendly fuels creating a competitive disadvantage.
• Limited leverage with regard to further development of infrastructure.

Mitigation Strategies

• Fleet rationalization plan with a social plan for affected employees.
• Social Impact program to manage social risks.
• Action plan to reduce energy consumption at offices and warehouses.
• Development of a drop-in biofuel to reduce emissions.
• Collaboration with authorities and industry associations to develop realistic regulations.

Supply Chain Management

Supplier Audits: 10 implementation scans/year

Responsible Procurement

• Supplier Code of Conduct; annual implementation scans; Socially Responsible Procurement monitoring method.

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels, flooding

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and services; renewable energy projects.

Reporting Standards

Frameworks Used: GRI G4

Certifications: ISO 9001, ISO 14001, OHSAS 18001, VCA (for Dutch operations), CO2 Performance Ladder (level 5)

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• SDG 3, SDG 4, SDG 7, SDG 8, SDG 13, SDG 17

Initiatives contribute to these goals through various programs and projects.

Sustainable Products & Innovation

• Building with Nature solutions; biofuels; bottom ash washing plant.

Awards & Recognition

• SponsorRing 2016 award in the ‘Society’ category.

Environmental Metrics

ESG Focus Areas

• Safety
• Quality
• Sustainability
• Human Capital
• Responsible Business Conduct

Environmental Achievements

• Reduced CO2 emissions from fleet to 1.23 million tons in 2017 (from 1.25 million tons in 2016).
• Launched biofuel pilot program, operating one dredging vessel on biofuel blend.
• Environmentally responsible dismantling of vessels.

Social Achievements

• Decreased Lost Time Injury Frequency to 0.06 (from 0.08 in 2016).
• Decreased Total Recordable Injury Rate to 0.55 (from 0.66 in 2016).
• Increased number of Safety Hazard Observation Cards to 11,445 (from 7,354 in 2016).
• Successfully implemented NINA (No Injuries, No Accidents) training program at VBMS and Offshore Wind business unit.
• Launched Boskalis-wide NINA portal for knowledge sharing.
• Implemented Boskalis Way of Working (WoW) quality management system.

Governance Achievements

• Implemented Boskalis Way of Working (WoW) quality management system.
• Revised Whistleblower Policy.
• Revised General Code of Business Conduct and Supplier Code of Conduct.
• 81% of strategic suppliers endorsed the Supplier Code of Conduct (76% in 2016).

Climate Goals & Targets

Environmental Challenges

• Challenging market conditions, particularly in the offshore energy sector.
• Low activity levels in the oil and gas industry.
• Pressure on utilization and prices in the spot market.
• Competition in some ports resulting in lower margins.
• Head office reorganization to right-size the organization.

Mitigation Strategies

• Head office cost reduction program targeting EUR 30 million in savings.
• Fleet rationalization program.
• More flexible crew-planning model.
• Selective tendering and operational excellence.
• Counter-cyclical investments in strengthening business portfolio.
• Acquisitions of Gardline and DSV Constructor.

Supply Chain Management

Supplier Audits: 10% of strategic suppliers annually

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: OHSAS 18001, ISO 14001, ISO 9001

Third-party Assurance: Ernst & Young Accountants LLP

UN Sustainable Development Goals

• SDG 3
• SDG 7
• SDG 8
• SDG 9
• SDG 13
• SDG 14

Contribution to SDGs through various initiatives.

Sustainable Products & Innovation

• 3D printing of artificial reefs

Environmental Metrics

ESG Focus Areas

• Health and safety
• Impact on biodiversity and ecosystems
• Emissions
• Local development
• Economic performance
• Responsible business conduct

Environmental Achievements

• Scope 1 and 2 CO2 emissions: 1,180,000 MT (slightly lower than 2017)
• Seven Building with Nature projects
• Biofuel contract with GoodFuels and energy reduction ambition in the Netherlands
• 500,000 EUR invested in Building with Nature program
• Various salvage activities
• 35% CO2 footprint reduction ambition in the Netherlands by 2022
• Construction of a new energy-neutral central distribution center

Social Achievements

• Lost time injury frequency (LTIF) decreased to 0.05
• Total recordable incident rate (TRIR) decreased to 0.40
• 77,857 training hours
• Launched a new 3-day NINA Facilitating Training for SHE-Q employees
• Implemented the YES Scan for safety hazard reflection
• Improved staff turnover to 15.3%
• Various community investment projects (e.g., earthquake-proof houses, safety training, solar panels for schools)

Governance Achievements

• 70% of strategic supplier spend covered by Supplier Code of Conduct
• 10 new suppliers scanned and 5 recurring scans for adherence to the Supplier Code of Conduct
• Revised Whistleblower Policy
• Reviewed General Code of Business Conduct

Climate Goals & Targets

Environmental Challenges

• Limited influence on infrastructure investment decisions
• Some clients focus on price as the sole selection criteria
• Voluntary use of costly alternative environmentally friendly fuels creates a competitive disadvantage
• Recruiting and retaining qualified, skilled professionals
• Ensuring workplace safety
• Availability of qualified local employees and suppliers
• Limited leverage towards clients or government bodies
• Large number and global spread of diverse suppliers

Mitigation Strategies

• Building with Nature approach
• Renewable energy activities
• Environmentally friendly fuels and energy-saving schemes
• Flood defense activities
• Salvage and wreck removal operations
• NINA safety program
• Social Impact Program
• Way of Working quality management system
• Supplier Code of Conduct
• BlueScan tool for sustainable procurement
• Safe and sustainable dismantling policy

Supply Chain Management

Supplier Audits: 10 new suppliers scanned and 5 recurring scans in 2018

Responsible Procurement

• Supplier Code of Conduct
• BlueScan tool

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards: core option

Certifications: ISO 9001, ISO 14001, OHSAS 18001, VCA

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• SDG 7: Affordable and clean energy
• SDG 8: Decent work and economic growth
• SDG 9: Industry, innovation and infrastructure
• SDG 13: Climate action
• SDG 14: Life below water

Boskalis' activities contribute to these SDGs through flood protection, climate change resilience, infrastructure services, energy transition, and biodiversity protection.

Sustainable Products & Innovation

• Building with Nature solutions
• 3D-printed artificial reefs
• Green valves
• Resin-free hang-off for subsea cables

Awards & Recognition

• Highly commended in the Environmental Project of the Year category at the DPC Innovation Awards 2018
• Winner of ADB-DutchCham’s Winsemius Award 2018

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity and Ecosystems
• Local Community and Development
• Employee and Talent Development
• Safety
• Responsible Business Conduct

Environmental Achievements

• Reduced Scope 1 and 2 CO2 emissions to 1.11 million MT (from 1.18 million MT in 2018)
• First dredging vessel in the world to operate on 100% biofuel oil (Willem van Oranje)
• Successfully completed several Building with Nature projects

Social Achievements

• Launched a new internal communications platform
• Introduced improved tools and approaches for career development
• Improved Lost Time Injury Frequency (LTIF) to 0.03 (from 0.05 in 2018)
• Improved Total Recordable Injury Rate (TRIR) to 0.37 (from 0.40 in 2018)

Governance Achievements

• Updated sustainability strategy
• Revised Whistleblower Policy
• Continued to monitor compliance with Supplier Code of Conduct

Climate Goals & Targets

Environmental Challenges

• Unknown pace of development and costs for new low-carbon technologies
• Some clients focus on price as the sole selection criteria
• Limited influence on infrastructure investment decisions
• Voluntary use of costly alternative environmentally friendly fuels creates a competitive disadvantage unless clients are prepared to pay a premium
• Temporary nature of involvement in local communities makes it hard to create and measure long-term impact
• Limited scope to meaningfully engage with local communities due to contracted services
• Balancing local needs and client requirements with international expectations
• Availability of qualified local employees and suppliers

Mitigation Strategies

• Exploring pathways for Boskalis to contribute to the ambitions of the Paris Climate Agreement
• Setting a new CO2 reduction target (climate neutral by 2050)
• Developing solutions and making low-carbon options more visible and accessible in commercial offerings
• Collaborating with clients and the sector to find solutions to reduce emissions
• Developing a Social Impact Program to increase internal awareness of social issues and provide a structured approach to manage project-level social impact
• Integrating local content requirements into project execution
• Providing training and learning opportunities for local communities

Supply Chain Management

Supplier Audits: 15 new suppliers scanned and 5 recurring scans in 2019; 118 suppliers scanned total from 2012-2019

Responsible Procurement

• Supplier Code of Conduct
• Sustainability criteria in supplier selection
• Collaborative sustainability initiatives (cleaner engines, environmentally friendly fuels, energy savings, sustainable dismantling)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Rising sea levels
• Flooding

Transition Risks

• Regulatory changes
• Market shifts
• Cost of low-carbon technologies

Opportunities

• Offshore wind energy projects
• Climate change adaptation projects
• Development of low-carbon solutions

Reporting Standards

Frameworks Used: GRI Standards: core option

Certifications: ISO 14001

Third-party Assurance: Bureau Veritas Inspection & Certification The Netherlands B.V.

UN Sustainable Development Goals

• SDG 7: Affordable and clean energy
• SDG 8: Decent work and economic growth
• SDG 9: Industry, innovation and infrastructure
• SDG 13: Climate action
• SDG 14: Life below water

Boskalis contributes to these SDGs through its core business activities in dredging, offshore energy, and marine services.

Sustainable Products & Innovation

• Building with Nature solutions
• Low-carbon solutions for clients
• Microbial soil improvement method

Awards & Recognition

• IADC Safety Award 2019 (for FLCS system)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Social Impact
• Safety
• Employee Engagement
• Responsible Business Conduct
• Community Impact
• Supply Chain Management
• Diversity and Inclusion

Environmental Achievements

• Scope 1 and 2 CO2 emissions: 1.20 million MT
• 75% of tenders in the Netherlands included emission-reduction measures
• Expanded biofuel usage in the Netherlands’ dry earthmoving transport, leading to around 55% reduction in CO2 emissions against traditional fuels
• Installed solar panels generating more than three million kilowatt hours of green electricity annually
• Acquired an all-electric dredger
• Completed installation of 71 concrete gravity-based structures for the Fécamp offshore wind farm
• Completed installation and burial of subsea cables for the Dolwin 6 North Sea offshore grid connection

Social Achievements

• Launched the Young Talent Program
• Launched a new version of the Boskalis Leadership Development Program
• 87,301 training hours
• Implemented a detailed local hiring plan in the Philippines, with a focus on training and career advancement opportunities for local communities
• Successfully launched a traineeship for Articulated Dump Truck operators in the Philippines
• Completed Creating Our Horizon employee engagement survey with highly positive results
• LTIF decreased to 0.01
• Continued roll out of The Expedition training

Governance Achievements

• 89% of strategic suppliers endorsed the Supplier Code of Conduct
• Updated Supplier Code of Conduct
• Completed Implementation Scans at 20 suppliers
• Reviewed and updated the Environmental & Social Impact Scan
• Reviewed and updated the Environmental & Social Review process

Climate Goals & Targets

Environmental Challenges

• Uncertain pace of development and availability for new low-carbon technologies
• Limited influence on global supply of clean fuels
• Some clients focus on price as principle selection criteria
• Limited leverage in the value chain
• Large number and global spread of diverse suppliers
• Limited availability and/or suppliers of industry specialized items
• Global labor shortage and recruiting and retaining qualified, talented individuals
• Ensuring workplace safety
• Given the temporary nature of our involvement in a local community, it can be hard to create and measure long-term impact
• As we are usually contracted to provide services for our client in a specific location, we can be limited in the scope we have to meaningfully engage with the local community
• Availability of suitably qualified local employees or suppliers
• COVID-19 restrictions in certain parts of the world meant traditional community engagement approaches were not always possible

Mitigation Strategies

• Global knowledge exchange and collaboration opportunities
• Opportunity to build on several years’ experience in biofuels and the Building with Nature approach
• Potential to differentiate through delivery of low-carbon solutions to clients
• Growing global awareness of the value of environmental management
• Increasing demand from clients to reduce and mitigate impact
• New markets can be targeted for recruitment
• Offer an inspiring and challenging work environment, with opportunities for structured career progression
• Provide a safe and healthy environment for our employees and subcontractors
• The potential for infrastructure to contribute to socio-economic development
• To use our presence in communities to increase local knowledge, skills and employment potential
• Employment of local people and delivering fair wages, good labor practices and respect for human rights
• Work with our local subcontractors or suppliers on sustainability issues such as health and safety, environmental measures and human rights
• Being a responsible and reliable business partner
• Effectiveness in managing supply chain risks
• Further evolve our supply chain management

Supply Chain Management

Supplier Audits: 201 suppliers reviewed in 2022 (Implementation Scans)

Responsible Procurement

• Supplier Code of Conduct
• Sustainability questionnaire
• Pre-qualification process
• Annual Implementation Scans

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, flooding

Transition Risks

• Uncertain pace of development and availability for new low-carbon technologies
• Limited influence on global supply of clean fuels

Opportunities

• Development of energy-efficient products and services
• Growing demand for climate adaptation solutions

Reporting Standards

Frameworks Used: GRI, UN SDGs, IFC Performance Standards, Equator Principles, OECD Guidelines for Multinational Enterprises

Certifications: ISO 14001, ISO 45001, ISO 9001, BREEAM, Carbon Neutral Britain

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• SDG 7: Affordable and Clean Energy
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation and Infrastructure
• SDG 13: Climate Action
• SDG 14: Life Below Water

Boskalis' activities contribute to these SDGs through various projects and services related to renewable energy, infrastructure development, climate adaptation, marine salvage, and job creation.

Sustainable Products & Innovation

• Go-Barry remote-controlled traffic barrier
• Modular artificial reefs
• All-electric dredger (BOKA E-Dredge 1)
• Energy Storage Systems ('power packs') for vessels

Awards & Recognition

• Taiwan Sustainability Award

Environmental Metrics

ESG Focus Areas

• Energy Transition
• Climate Adaptation
• Innovation
• Human Excellence
• Responsible Business Conduct
• Safety
• Biodiversity
• Community Impact
• Emissions

Environmental Achievements

• Scope 1 and 2 carbon dioxide emissions 1.33 million MT
• Completed transformation of the Bokalift 2 with installation of an advanced Motion Compensated Pile Gripper Frame
• Placed order for a large state-of-the-art trailing suction hopper dredger that will be fully equipped to run on methanol
• Commissioned a large-scale shore power facility at its premises in the Waalhaven in Rotterdam, resulting in an annual reduction in carbon dioxide emissions of 1,600 tons
• Zero incidents of turbidity exceedance on projects with a turbidity scope
• Completed protection and replenishment of more than 40 kilometers of coastline across eastern Togo and western Benin

Social Achievements

• Launched the Manager Essentials program
• Ran the Project Professional Program
• Ran the Project Management Leadership Program
• Hosted a “Navigate Your Career” week to facilitate internal mobility
• Ran the second edition of the Boskalis Worldwide Vitality Challenge
• Opened a new regional talent hub in Abu Dhabi
• Positive assessment of the Manila International Airport Project’s management of environmental and social (E&S) risks

Governance Achievements

• Strengthened the governance around ESG
• Updated materiality process with first double materiality assessment
• Formed an ESG Steering Committee

Climate Goals & Targets

Environmental Challenges

• Two fatalities at operations
• Regulatory uncertainty, supply chain disruptions, and the rising cost of materials and industry services in the offshore wind industry
• Rising global interest rates pushing up the cost of borrowing for offshore developments
• Limited influence over overall project design or implementation strategy in some cases

Mitigation Strategies

• Intensify focus on safety in the workplace in 2024
• Detailed evaluation of current safety trainings and onboarding processes
• Enhance safety instructions and practices during projects and on board vessels
• Develop and implement a range of E&S safeguards
• Active dialogue and communication via designated community interlocutors
• Invest in low-emission equipment and clean fuel alternatives for onshore projects
• Proactively take measures to identify any environmental and social impact and take appropriate action to avoid, minimize or mitigate them

Supply Chain Management

Supplier Audits: 20 suppliers reviewed in 2023

Responsible Procurement

• Supplier Code of Conduct
• Pre-qualification process
• Implementation scans

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Rising sea levels

Transition Risks

• Regulatory changes
• Market shifts
• Availability of alternative fuels

Opportunities

• Growth in renewable energy sector
• Demand for climate adaptation solutions

Reporting Standards

Frameworks Used: GRI, ESRS

Certifications: ISO 14001, ISO 45001, ISO 9001

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• SDG 7: Affordable and Clean Energy
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation and Infrastructure
• SDG 13: Climate Action
• SDG 14: Life Below Water

Contribution through projects and services related to energy transition, maritime infrastructure, climate adaptation, and vessel salvaging.

Sustainable Products & Innovation

• Methanol-ready trailing suction hopper dredger
• Modified Bokalift 2
• Energy Storage Systems ('power packs')

Awards & Recognition

• Not disclosed