Sustainability

Getting greener while sustaining ethical growth and opportunites.

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Our priorities

Every aspect of sustainability needs attention, but some are more
relevant to us and our stakeholders than others.

Environmental, Social and Governance

YearDownload
2021Report
2020Report

Solstad assesses environmental, social and corporate governance issues in its business decisions, operation and financial reporting.

Solstad’s governance and management systems are based on the Company’s vision and values.

ESG leading indicators

UnitTarget
2022
2021202020192018GRI ***SDG
Environment
CO2 scope 1 (own activity)tCO2711,552696,888801,578714,722305-113
Carbon intensity CSV fleettCO2/day33.931.931.9305-113
Carbon intensity AHTS fleettCO2/day29.229.529.1305-113
Carbon intensity PSV fleettCO2/day17.025.124,4305-113
CO2 scope 2 (Purchased electricity)*tCO2171203214156305-213
Total energy consumptionMWh2,786,1682,721,1863,005,3732,576,754302-113
Percentage heavy fuel oil%0000305-113
NOx emissiontNOx9,9009,60111,32910,089305-713
SOx emissiontSOx401457532512305-713
Number of Oil spillsNo.015121413306-314
Oil spill litresLitres0292349113679306-314
Waste from vessels – Metaltons132
Waste from vessels – Not sorted (Mixed waste)tons405
Waste from vessels – Paper and Cardboardtons183
Waste from vessels – Food (estimated condemned value)USD57,442
Total waste from vesselstons2,257
Percentage of waste delivered to onshore waste handling%70 %
Fines for none-compliance of environmental regulationsNo.00000419-116
Single use plastic waters bottles on board our vesselsNo.116,000167,620233,219184,450N/A305-114
Ships recycledNo.N/A5000N/A13
Social
Permanent employees%95 %97 %96 %96 %401-28
Gender diversity – Board%50 %50 %50 %40 %50 %1028
Gender diversity sea (Target 10% female crew by 2030)%6 %6 %5 %102-88
Gender diversity office management level (Target 35 %
female managers by 2030)
%22 %23 %21 %15 %102-88
Gender diversity onshore employees%42 %44 %42 %102-88
Employees in part-time positions%0,3 %8
Average number of weeks parental leaveNo.188
Employees working involuntarily in a part-time position%00 %8
Retention rate offshore crew%90 %97 %97 %96 %97 %401-18
Retention rate onshore employees%90 %97 %96 %90 %93 %401-18
Fraction of all employees received sustainability training%100 %85 %43 %404-28
TRCF (12-month rolling – Total Recordable Case Frequency)**No.1.101.191.281.651.86403-98
Lost Time Incident FrequencyNo.00.240.230.21403-28
Port states deficiencies or detentionsNo.00008
Governance
Incidents related to Corruption and BriberyNo.00000205-38
Number of calls at port in countries that have 30 lowest rating in Transparency International’s Corruption Perception Index.No.1258
Share of Revenue from Renewable energy segment (non oil and gas)%10 %5 %7 %201-213
Supply chain – Approved SuppliersNo.1,1151,5001,5008
Suppliers AuditsNo.78
* Office locations 2021 (9) – 2020 (10) – 2019 (11) – 2018 (13)
** per 1 millhours
***GRI (Global Reporting initiative) as guidance only
SDG: UN Sustainable Development Goals

United Nations (UN) Sustainable Development Goals

A thorough materiality analysis has provided us with way to focus our efforts by highlighting the most crucial elements of what sustainability means to both Solstad and our customers, investors, employees and neighbours.

Zero Emissions

As a major player in the offshore energy industry, we’re acutely aware of the predicaments that face us as a global society and our role in both creating and solving them. We know that the Earth is getting warmer, and we took considerable environmental measures through the Solstad Green Operations program long before it was cool.

Zero Incidents

Solstad Incident Free Operations is a companywide working culture whereby all operations are planned and executed in the belief that all incidents, whatever the nature or cause, are preventable. 

We are all one team and responsible for the safety of ourselves and of each other. We reject the idea that ‘accidents happen’

We strive to maintain this safety mindset in every facet of our operations that ensures we:

  • Look Out for Each Other
  • Understand and actively manage the risks in every task
  • Choose to follow the safety rules speak up and stop any task that is deemed to be unsafe

Zero Tolerance

We know that big business decisions are sometimes made based on other things than competence and ability, which is why we have an absolute zero tolerance policy on corruption and bribery. We aim to provide steady, fulfilling work for people in the communities we touch. That’s why we employ local seafarers and land-based staff in our different markets, and why we protect whistleblowers.