Our priorities
Every aspect of sustainability needs attention, but some are more
relevant to us and our stakeholders than others.
Environmental, Social and Governance
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
| Unit | Target 2022 | 2021 | 2020 | 2019 | 2018 | GRI *** | SDG | |
|---|---|---|---|---|---|---|---|---|
| Environment | ||||||||
| CO2 scope 1 (own activity) | tCO2 | – | 711,552 | 696,888 | 801,578 | 714,722 | 305-1 | 13 |
| Carbon intensity CSV fleet | tCO2/day | – | 33.9 | 31.9 | 31.9 | 305-1 | 13 | |
| Carbon intensity AHTS fleet | tCO2/day | – | 29.2 | 29.5 | 29.1 | 305-1 | 13 | |
| Carbon intensity PSV fleet | tCO2/day | – | 17.0 | 16,5 | 18,1 | 305-1 | 13 | |
| CO2 scope 2 (Purchased electricity)* | tCO2 | – | 171 | 203 | 214 | 156 | 305-2 | 13 |
| Total energy consumption | MWh | – | 2,786,168 | 2,721,186 | 3,005,373 | 2,576,754 | 302-1 | 13 |
| Percentage heavy fuel oil | % | 0 | 0 | 0 | 0 | 305-1 | 13 | |
| NOx emission | tNOx | – | 9,900 | 9,601 | 11,329 | 10,089 | 305-7 | 13 |
| SOx emission | tSOx | – | 401 | 457 | 532 | 512 | 305-7 | 13 |
| Number of Oil spills | No. | 0 | 15 | 12 | 14 | 13 | 306-3 | 14 |
| Oil spill litres | Litres | 0 | 292 | 349 | 113 | 679 | 306-3 | 14 |
| Waste from vessels – Metal | tons | – | 132 | – | – | – | – | – |
| Waste from vessels – Not sorted (Mixed waste) | tons | – | 405 | – | – | – | – | – |
| Waste from vessels – Paper and Cardboard | tons | – | 183 | – | – | – | – | – |
| Waste from vessels – Food (estimated condemned value) | USD | – | 57,442 | – | – | – | – | – |
| Total waste from vessels | tons | – | 2,257 | – | – | – | – | – |
| Percentage of waste delivered to onshore waste handling | % | – | 70 % | – | – | – | – | – |
| Fines for none-compliance of environmental regulations | No. | 0 | 0 | 0 | 0 | 0 | 419-1 | 16 |
| Single use plastic waters bottles on board our vessels | No. | 116,000 | 167,620 | 233,219 | 184,450 | N/A | 305-1 | 14 |
| Ships recycled | No. | N/A | 5 | 0 | 0 | 0 | N/A | 13 |
| Social | ||||||||
| Permanent employees | % | – | 95 % | 97 % | 96 % | 96 % | 401-2 | 8 |
| Gender diversity – Board | % | 50 % | 50 % | 50 % | 40 % | 50 % | 102 | 8 |
| Gender diversity sea (Target 10% female crew by 2030) | % | 6 % | 6 % | 5 % | – | – | 102-8 | 8 |
| Gender diversity office management level (Target 35 % female managers by 2030) | % | – | 22 % | 23 % | 21 % | 15 % | 102-8 | 8 |
| Gender diversity onshore employees | % | – | 42 % | 44 % | 42 % | – | 102-8 | 8 |
| Employees in part-time positions | % | – | 0,3 % | – | – | – | 8 | |
| Average number of weeks parental leave | No. | – | 18 | – | – | – | 8 | |
| Employees working involuntarily in a part-time position | % | 0 | 0 % | – | – | – | 8 | |
| Retention rate offshore crew | % | 90 % | 97 % | 97 % | 96 % | 97 % | 401-1 | 8 |
| Retention rate onshore employees | % | 90 % | 97 % | 96 % | 90 % | 93 % | 401-1 | 8 |
| Fraction of all employees received sustainability training | % | 100 % | 85 % | 43 % | – | – | 404-2 | 8 |
| TRCF (12-month rolling – Total Recordable Case Frequency)** | No. | 1.10 | 1.19 | 1.28 | 1.65 | 1.86 | 403-9 | 8 |
| Lost Time Incident Frequency | No. | 0 | 0.24 | 0.23 | 0.21 | – | 403-2 | 8 |
| Port states deficiencies or detentions | No. | 0 | 0 | 0 | 0 | – | – | 8 |
| Governance | ||||||||
| Incidents related to Corruption and Bribery | No. | 0 | 0 | 0 | 0 | 0 | 205-3 | 8 |
| Number of calls at port in countries that have 30 lowest rating in Transparency International’s Corruption Perception Index. | No. | – | 12 | 5 | – | – | – | 8 |
| Share of Revenue from Renewable energy segment (non oil and gas) | % | – | 10 % | 5 % | 7 % | 201-2 | 13 | |
| Supply chain – Approved Suppliers | No. | – | 1,115 | 1,500 | 1,500 | – | – | 8 |
| Suppliers Audits | No. | – | 7 | – | – | – | – | 8 |
** 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.
