Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Maintained environmental certification and all required licenses without any reportable or adverse environmental events.
• Reduced emissions intensity between FY2020 and FY2021.
• Increased revenue from offshore wind to 16% of total revenue.
• Successfully trialled potable water systems on four vessels to eliminate single-use water bottles by 2024.

Social Achievements

• Launched a new Employee Assistance Program (EAP) providing 24/7 counselling support.
• Implemented the third annual Employee Opinion Survey to identify areas for improvement.
• Achieved global certification for all operations to ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
• Increased percentage of women on the Board of Directors to 33.3%.

Governance Achievements

• Complied with the 4th Edition of the Australian Securities Exchange’s Corporate Governance Principles and Recommendations.
• Had no known incidents of bribery or corruption during FY2021.
• Published a Modern Slavery Statement.

Climate Goals & Targets

Environmental Challenges

• Increase in Total Recordable Case Frequency (TRCF) from 0.54 to 1.13 (per million hours worked).
• COVID-19 pandemic presented significant logistical challenges.
• Percentage of women in senior management below targets.

Mitigation Strategies

• Initiated a “Stand Together for Safety” event and other initiatives to address the increase in lost time injuries.
• Implemented robust COVID-19 response procedures, including remote working capabilities.
• Continued focus on promoting and supporting women through recruitment and employee development practices.

Supply Chain Management

Responsible Procurement

• Supporting local and Indigenous businesses

Climate-Related Risks & Opportunities

Opportunities

• Diversification into offshore wind

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Increased resourcing directed at emissions reduction, establishing a new role of Project Manager – Strategic Initiatives and appointing an Operational Improvement Lead.
• Collaborated on a project to gain Gas Ready certification for the MMA Leveque (now FFI Green Pioneer) to run on ammonia.
• Developed a more detailed Emissions Reduction Strategy approved by the Board.
• Progressed technical evaluation for battery technology installation on a support vessel.
• Acquisition of Subcon, bringing environmental solutions including artificial reefs and coastal erosion solutions.

Social Achievements

• Improved safety performance with TRCF decreasing from 1.13 to 0.28.
• Achieved 344 (94%) perfect days (days free of recordable injuries or material incidents).
• Established a corporate volunteering program.
• Enhanced diversity and inclusion through awareness and inclusion events; percentage of women employed at an executive leadership level increased to 33.3% from 16.7%.
• Fostered collaborative relationships with Indigenous communities, including engaging Traditional Owners in survey projects.

Governance Achievements

• Compliance with ASX 4th Edition Corporate Governance Principles.
• Implementation of a Group Whistleblower Policy.
• Zero-tolerance approach to bribery and corruption.
• Publication of a Modern Slavery Statement.

Climate Goals & Targets

Environmental Challenges

• Absence of commercially viable alternative fuels for vessels to materially reduce carbon emissions from marine gas oil.
• Uncertainty around the timeline for commercialisation of alternative fuel technology.

Mitigation Strategies

• Focusing on operational initiatives to reduce fuel burn.
• Installation of battery technology where appropriate.
• Investing in research into alternative fuels such as ammonia, hydrogen and methane.
• Developing strategies and initiatives to reduce emissions across operations.

Supply Chain Management

Responsible Procurement

• Extensive third-party due diligence on prospective suppliers and contractors.
• Requirement for new vendors to abide by the Modern Slavery Act and UN Global Compact Principles.

Climate-Related Risks & Opportunities

Physical Risks

• Coastal erosion due to rising sea levels and extreme weather events

Transition Risks

• Changes in demand for oil and gas services.

Opportunities

• Growth in offshore wind and other renewable energy sectors.
• Decommissioning of oil and gas infrastructure.

UN Sustainable Development Goals

• 3
• 5
• 7
• 8
• 10
• 12
• 13
• 14

MMA's key ESG initiatives are aligned with these UN Sustainable Development Goals.

Sustainable Products & Innovation

• Engineered reefs
• Coastal erosion solutions

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Overall emissions for FY2023 decreased by 10% in comparison to FY2022. The primary reason for the reduction in emissions was fewer owned and chartered vessels in the fleet in comparison to the prior year.
• Increased share of revenue from offshore wind from 9% to 24%
• Installed two new artificial reefs in Tasmania

Social Achievements

• Maintained world-class safety performance with a TRCF of 0.26
• Won the 2022 IMCA Safety Award for Target 365 Leadership Engagement Program
• Raised more than $31,800 and volunteered more than 100 hours for local charities

Governance Achievements

• Compliant with ASX 4th Edition Corporate Governance Principles
• Updated Code of Conduct to incorporate MMA’s Purpose, Principles and behaviours charter
• No known incidents of bribery or corruption

Climate Goals & Targets

Environmental Challenges

• Access to skilled personnel
• Project schedule movements and lower availability of assets in the broader market
• Currently no commercially available alternative to diesel for vessel fleet
• Geopolitical risks in various operating regions
• Climate change and the energy transition impacting traditional oil and gas customers

Mitigation Strategies

• Developing decarbonisation and fuel efficiency initiatives
• Diversifying revenue streams into offshore wind, government & defence, and environmental services
• Developing integrated services offering
• Regularly risk assessing market areas and clients
• Comprehensive ESG strategy
• Diversification into offshore wind market

Supply Chain Management

Responsible Procurement

• Indigenous procurement through Supply Nation membership
• Counter-party due diligence on prospective suppliers and contractors
• Compliance with modern slavery legislation

Climate-Related Risks & Opportunities

Transition Risks

• Energy transition impacting traditional oil and gas customers
• Transition to alternative marine fuel technology

Opportunities

• Growth in offshore wind market

UN Sustainable Development Goals

• 3
• 5
• 7
• 8
• 10
• 12
• 13
• 14

MMA’s key ESG initiatives are aligned with several of the United Nations Sustainable Development Goals, which address the key challenges currently faced globally.

Sustainable Products & Innovation

• Artificial reefs
• Pipe Clamping Mattresses (PCM)

Awards & Recognition

• 2022 IMCA Safety Award