decarbonising offshore support
ZERO
CO2 emission by 2050
and to achieve net-zero
by 2035
50%
Green EBITDA in 2022
FIRST
World's 1st green fuel SOV
0.20
Total Lost Time Incident Frequency (LTIF)
The science is clear that the window to avoid the worst impacts of climate change is still open but closing fast. At ESVAGT, supporting our customers in accelerating the global expansion of offshore wind is where we can have the most impact, and we have put this at the heart of our business strategy.
Our Sustainability strategy
Sustainability is at the core of our strategy
ESVAGT’s strategic ambition is to transition away from oil & gas to offshore wind, which now represents 53% of our EBITDA with a target to achieve 80% by 2026. We aim to fully transition away from oil & gas by 2050.
At the same time, we are addressing other environmental, social and governance (ESG) risks and opportunities in our operations that include maintaining safe operations, minimising our negative environmental impacts, providing a diverse workplace and ensuring business integrity across our value chain.
Sustainability is at the core of ESVAGT’s business strategy and is built around four priorities.
- Transition from O&G towards renewables
- Decarbonise our own operations
- Help decarbonise our custormers’ supply chains
- Provide healthy, safe and secure working conditions, and achieve zero harm
- Minimise our negative environmental impacts
- Deliver the highest quality services
- Build a strong and engaged organisation
- Provide a diverse workplace where our employees can thrive
- Focus on training and development
• Conduct business with integrity
• Comply with all laws applicable to our business and countries of operation
OUR SUSTAINBILITY PRIORITIES
Decarbonising offshore support
In support of our strategic ambition to transition away from oil & gas to offshore wind where ESVAGT is the leading provider of SOVs in Europe, we are prioritising our fleet investments to support offshore wind.
We also aim to be the leading provider of low or zero-emissions SOVs and are collaborating on a range of solutions to mitigate the risk of selecting the wrong technology.
We have set a target to reach net-zero for operational emissions from our SOV fleet by 2035. Residual emissions from our remaining ERRV fleet will be offset through natural climate solutions which means that we also commit to becoming carbon-neutral by 2035.
Beyond 2035, we are committed to reaching net-zero emissions within operations for our entire fleet by 2050. Achieving these targets supports our customers in decarbonising their supply chains.
Our mission is making the sea a safe place to work
Minimising our negative environmental impacts
Delivering the highest quality to our customers
Safety is core to what ESVAGT does. Our safety performance underpins the delivery of our operations to customers and our vision to be the leading provider of safety and support at sea within the wind and oil & gas industries. It is also key to supporting our growth strategy in offshore wind where our contribution to industry safety will grow as it attracts more people to work offshore.
Approximately 90% of ESVAGT’s employees work at sea. Therefore, providing healthy, safe and secure working conditions is an essential part of ESVAGT’s business and a necessity for having a committed and engaged organisation. Our ambition is to continually improve our safety performance and to achieve zero harm.
ESVAGT is also committed to delivering the highest quality services in whatever we do. Our quality management system and performance are based on recognised international standards, and we prioritise customer feedback as an important tool to gauge satisfaction and make improvements.
We also seek to minimise our negative environmental impacts and to comply with all relevant rules and regulations in the countries that we operate in.
Find out more about ESVAGT’s approach to safety at work
Investing in our people to underpin performance and growth
Our people are essential to delivering our strong operational and safety performance and to achieving our growth ambitions. To underpin these, we are building a strong and engaged organisation built on core values through our “ESVAGT Standards”.
We seek to provide a diverse workplace where all of our employees can thrive and are motivated to help create a sustainable business. We focus on training and development to maintain our strong operating performance and to realising ESVAGT’s decarbonisation strategy, which relies on introducing new vessels and technologies that personnel must be trained on to operate.
We are also actively addressing female under-representation in shipping. Doing so provides access to a wider talent pool that shipping has traditionally missed out on and supports our commitments to SDG 5: Gender equality.
ESVAGT is a signatory to Danish Shipping’s charter for more women in shipping
Improving wellbeing at Triton Knoll offshore wind farm
Conducting business with integrity
We conduct our business with integrity and comply with all laws applicable to our business in the countries where we operate. While ESVAGT does not operate in countries with elevated risks related to corruption or human rights abuses, we are potentially exposed to these risks through our supply chain.
Our approach is anchored in ESVAGT’s Governance Framework which sets the standard for how ESVAGT and its employees conduct business and outlines our expectations for suppliers and business partners. These expectations are supported by due diligence assessments and supplier audits.
Sustainability & ESG Report 2022
Download the ESVAGT Sustainability & ESG Report 2022.
