ESG

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Environment and Climate Change

ESG

GMS strongly believes in a sustainable future and is taking the necessary steps to ensure that it stays abreast of technological advancements in the marine industry that will help deliver safe and sustainable operations into the future.

We recognise that climate change is a significant issue and have adopted the recommendations set out in the Task Force On Climate-Related Financial Disclosures (TCFD). In addition, this year we will also be assessing ourselves against the Global Standards for Sustainability Reporting (GRI). We will publish more details on our progress with GRI in due course. Our roadmap for full TCFD compliance is presented below, along with other information and initiatives on how GMS is playing its part in protecting the planet.

TCFD Update Q1 2022

The TCFD framework sets out 11 key recommendations that companies should adopt. Below is our progress up to the end of Q1 2022.

Theme

Disclosure

Position as of end of Q1 2022

Planned Compliance Date

Governance 

a) Describe the board’s oversight of climate-related risks and opportunities. 

Compliant 

 

b) Describe management’s role in assessing and managing climate-related risks and opportunities. 

Compliant 

 

Strategy 

a) Describe the climate-related risks and opportunities the organisation has identified over the short, medium, and long term. 

Compliant 

 

b) Describe the impact of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning. 

Non-compliant for financial planning 

31 December 2022 

 

c) Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. 

Compliant 

  

Risk Management 

a) Describe the organisation’s processes for identifying and assessing climate-related risks. 

Compliant 

 

b) Describe the organisation’s processes for managing climate-related risks. 

Compliant 

 

c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation’s overall risk management. 

Compliant 

 

Metrics & Targets 

a) Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process. 

Non-compliant 

31 Dec 2022 

 

b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. 

Non-compliant for Scope 3 

31 Dec 2022 

c) Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets 

Non-compliant 

31 Dec 2022 

Emissions Reporting

We collate data on our operations to allow us to calculate emissions across the business. The trend in electricity, air travel, refrigerant and vessel fuel emissions from 2018-2021 is presented below.

Energy Efficiency Actions

Closures Of Offices and Facilities

The relocation of our offices and downsizing of onshore facilities has led to a 95% reduction in CO2 emissions produced by electricity consumption from 2020 to 2021.

In Business Travel (COVID-19)

Levels of business travel remain suppressed and due to changes in crew rotations, we have seen a slight decrease (4%) in air travel CO2 emissions.

Change In Refrigerant

We changed the refrigerant used on our vessels for the cooling process, resulting in a 30% decrease in refrigerant emissions in 2020. In 2021 we decreased our refrigerant emissions by a further 25% through better maintenance. and equipment. In addition, we are now evaluating using R32 on all our vessels which would significantly reduce the Global Warming Potential of our fleet.

In 2022 we will be calculating our scope 3 emissions and in line with TCFD requirements we are aiming to identify and implement achievable emissions reporting targets and formalise a climate policy to meet these targets.

Environment

We are constantly looking for ways to reduce our impact on the Environment. Below are some of the most recent initiatives that we have implemented to reduce emissions across the business.

 

Closure of UK and Mina port offices

We closed UK and Mina port offices as a part of restructuring activities at the end of 2019 which lead to electricity and energy consumption efficiencies.

Shut down of construction activities

GMS shut down all construction facilities at the end of 2018. This has had a major impact on scope 2 emissions, with the eradication of other gas use, and a reduction in electricity consumption.

Decrease in business travel

We have taken conscious measures to reduce business travel as much as possible.  COVID-19 has also impacted business travel significantly and we are looking forward to reporting on the total emissions reductions shortly.

Change in refrigerant

We changed the refrigerant used on vessels for the cooling process to R407 which reduces global warming emissions into the environment by approximately half as compared to the previous refrigerant.

The Group has consulted an independent third-party verifier- Energy and Carbon Management (“ECM”) to report environmental performance on the Greenhouse Gas (GHG) emissions during the year ended 31 December 2019. Their report summarises the organisational and operational boundaries, associated emissions, annual reporting figures and methodologies for GMS, in accordance with the regulatory obligation Part 7 of the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013.

In calculating the GHG emissions, ECM has used the GHG Protocol Corporate Accounting and Reporting Standard (revised edition) emission factors from the UK Government Conversion Factors for Company Reporting 2019, Version 1.01.

 

The table below shows the data points that are required under the UK Government regulatory requirements.

Global GHG Emissions data for period 1st January 2019 to 31st December 2019


Employee engagement

ESG | Gulf Marine Services | Jackup Abudhabi | Oil Company Abudhabi | Best Oil Service Abudhabi | Best Jackup Service UAE | Vessel Company UAE | Fleet Service AbudhabiWe aim to conduct our business sustainably without causing harm to people or the environment. The requirements defined in this policy and throughout our Business Management System are mandatory at all levels of the organisation.

We launched our first employee engagement survey at the end of 2019 with an 82% completion rate which is consistent with the global benchmark completion rate of 80% for all companies.

The areas where our employees scored us as needing attention are communicating more often as a Group and between departments and creating opportunities to provide constructive ideas on how to improve our processes. In 2020 we launched our internal ‘Bright Ideas’ campaign, but we know we still have work to do.

 

Diversity

Diversity| Succession planning | Gulf Marine Services | Jackup Abudhabi | Oil Company Abudhabi | Best Oil Service Abudhabi | Best Jackup Service UAE | Vessel Company UAE | Fleet Service AbudhabiWe aim to conduct our business sustainably without causing harm to people or the environment. The requirements defined in this policy and throughout our Business Management System are mandatory at all levels of the organisation.

Our workforce consists of over 400 personnel recruited from more than 30 countries, and the significant experience and skills they bring to GMS helps us to conduct our business from a global perspective.

For cultural and legal reasons, the extent to which we can employ offshore female personnel is limited due to local labour laws which stipulate that women cannot work in an inappropriate environment and hazardous jobs/industries.

 

Succession planning

Given the situation in the Group, as well as the small size of GMS, it is a reality that many posts will be filled by external hires. A basic succession planning process is in place but is rudimentary in nature and has not been the priority of Management in 2019.

 

Ethical practice

The Group operates responsibly in accordance with the formal legal and regulatory disclosure requirements expected of a UK listed Company. Our Code of Conduct sets out the basic rules of the Group and its purpose is to ensure we work safely, ethically, efficiently and within the laws of the countries in which we operate.

All our staff receive Code of Conduct training as part of their induction and our reputation and success is dependent on our staff putting the Code into practice in all our dealings with our stakeholders. GMS also maintains an awareness of human rights issues, which is reflected in our suite of Group policies including our Anti-Corruption and Bribery Policy, Anti- Slavery Policy, Social Responsibility Policy and Whistleblowing Policy.

 

Learning and Development

We ensure all of our people maintain the relevant technical and regulatory training required to fulfil their job roles. As seafarers, all crew maintain their relevant STCW (Standards of Training, Certification and Watchkeeping – a worldwide convention that ensures a lateral standard of training is achieved across all countries in the world) qualifications that licenses them to operate our barges in accordance with International Maritime Organisation requirements.

For barges operating within the offshore Oil & Gas Sector, we also ensure all crew complete additional required training in areas such as, but not limited to, offshore safety and awareness training and emergency response training.