Building momentum and tracking transition through ESG
By James Larnder, MD at Aquaterra Energy
Last year, we were immensely proud to release our first ESG report as a company. We detailed our performance according to E, S and G metrics and outlined the initiatives we had both planned and were underway to improve. But the inherent limitation of a single report is that it’s a snapshot – it captures performance at a moment in time, but what it can’t show is growth, momentum and transition.
That’s why this second report is so important. By having last year’s report as a benchmark, we can see areas of growth, and identify opportunities for improvement. We can build momentum and track transition.
And transition really is the key word. The energy sector as a whole is in the midst of a transition from a hydrocarbon-heavy past to a renewable future, and that is mirrored here at Aquaterra Energy. In recent years, we have transitioned away from an offshore oil and gas company to a true offshore energy company. We have pivoted to provide for the future offshore energy system as it evolves, without losing sight of our responsibility and ability to iteratively improve the ESG performance of the heritage offshore energy sector.
This year, we officially launched our renewables propositions in carbon capture and storage (CCS), offshore wind and green hydrogen, and have been approved to the Fit 4 Offshore Renewables (F4OR) programme. At the same time, we have achieved carbon neutrality for our own operations and are looking ahead to achieving net zero. We also celebrated 3,000 days lost time injury (LTI) free – a record that spans more than eight years.
In this report, we aim to celebrate achievements like these, but also to outline how we intend to go even further in the future. This year, we have focused on incorporating the UN’s Sustainable Development Goals to align our efforts with the world’s most pressing challenges and to fortify our strategy.
In the year to come, we aim to demonstrate substantial progress in our renewables propositions. We will be focusing on our equipment and transparently reporting on our own emissions and impact by launching a proprietary carbon calculator.
I invite you to download our new ESG report here. I was proud of our achievements in last year’s initial ESG report; I am prouder still of our progress from that point as detailed in this one. I hope and intend to be able to say the same next year, too.