decarbonising offshore support
NET-ZERO
By or around, i.e close to 2050
GHG
Minor increase in emissions across all scopes
50%
EBITDA from Renewables
GRESB
5-star rating and a 96 score
The past year underlined the complexity of the green energy transition and reinforced ESVAGT’s strategi ambition to step up the decarbonization of offshore support.
Our strategy
Leading as a sustainable provider of safety and support at sea
Offshore wind contributes approx 50% of ESVAGT’s EBITDA and our target is to continuously grow this share. To achieve this, we expect to invest significantly in new Service Operation Vessels (SOVs) for the offshore wind industry over the next decade and create many new jobs.
There is also growing demand from offshore wind developers and oil and gas E&Ps to use low or zero-emission technologies in SOVs and ERRVs in order to reduce their supply chain emissions to meet climate targets. ESVAGT is a leading provider and contracts with its customers to equip newbuilds with these technologies or to upgrade its existing vessels.
All of ESVAGT’s core services are significant in relation to our sustainability-related goals. Sustainability is, therefore, key to ESVAGT’s business strategy.
SUSTAINBILITY COMMITMENTS
Supporting the UN SDGs
ESVAGT is committed to behaving as a responsible global citizen and acting where possible in support of the United Nations 17 Sustainable Development Goals (SDGs). To ensure that we are applying where we can have most impact, we focus on five SDGs:
Gender equality
Achieve gender equality and empower all women and girls.
ESVAGT has signed Danish Shipping’s ‘Charter for More Women in Shipping’ to increase the number of women working in the industry.
Decent work and economic growth
Protect labour rights and promote safe working environments.
ESVAGT’s mission is making the sea a safe place to work.
Climate action
Take urgent action to combat climate change and its impacts.
ESVAGT is decarbonising its fleet in line with its commitments to emissions reductions.
Life below water
Conserve and sustainably use the oceans, seas, and marine resources for sustainable development.
ESVAGT is dedicated to preserving marine resources by protecting biodiversity and avoiding oil spills and waste to sea.
Peasce, justice and strong institutions
Promote peaceful and inclusive societies for sustainable development, provide access to justice for alle and build effective, accountable, and inclusive institutions at all levels.
ESVAGT is committed to acting as a responsible citizen by having strong and sound governance systems in place.
OUR SUSTAINBILITY PRIORITIES
ENVIRONMENTal information
CLIMATE change
The transition to renewable energy is crucial to the world’s efforts to limit global warming. Offshore wind has an important role to play in this but to achieve its global growth ambitions, it must be reliable, affordable, and sustainable.
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.
Pollution
ESVAGT is committed to minimise our negative environmental impacts and to comply with all relevant rules and regulations in the countries that we operate in.
Within the shipping industry, marine pollution constitutes the largest single environmental risk. Avoiding negative impacts to the environment and protecting biodiversity are also important priorities for our customers and other stakeholders in offshore wind and oil & gas and we are committed to working with them to achieve their goals.
social information
own workforce
Our people are essential to delivering our strong operational and safety performance and to achieving our growth ambitions. As one of our most significant stakeholder groups by interest and impact, we take our responsibility towards them seriously.
Approximately 95% 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.
Safety 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. ESVAGT is well positioned to support the industry and the many people working offshore through the vast experience we have gained since 1981 as an operator of ERRVs and SOVs, transferring more than 700,000 people safely to and from offshore installations with the company’s boats and walk-to-work gangway transfers.
Our ambition is to continually improve our safety performance and avoid any accidents and harm to our people, the environment and our assets.
ESVAGT is a signatory to Danish Shipping’s charter for more women in shipping
workers in the value chain
Safety is core to what ESVAGT does. Through our SOVs, we provide support to offshore wind farm operators, and with our ERRVs, we provide standby and service vessels for offshore oil and gas companies.
Our focus is not only on ensuring the safety of our own employees but also on delivering operations that support the safety of our customers’ employees, who service offshore wind installations and work on offshore oil and gas platforms and drilling rigs.
GOVERNANCE INFORMATION
Business conduct
At ESVAGT, we conduct our business with integrity and comply with all laws applicable to our business in the countries that we operate in. We actively foster a culture of integrity, aiming for zero incidents of non-compliance with our Governance Framework.
Our approach to business conduct is anchored in ESVAGT’s Governance Framework which sets the standard for how ESVAGT and its employees conduct business and outlines our expectations of our suppliers and business partners. These expectations are reinforced through due diligence assessments and regular supplier audits.
