Global offshore geotechnical data acquisition, analysis and reporting specialist Geoquip Marine has demonstrated its commitment to optimising its ESG (Environmental, Social and Governance) performance by publishing its inaugural externally verified Annual Sustainability Report.
The report has been exhaustively researched and compiled. It details Geoquip Marine’s commitment to the environment, in respect of Conservation of Biodiversity, Environmental Stewardship and Climate Change and Emissions, explains social criteria including Health and Safety, becoming recognised as an Employer of Choice and Training and Development and also outlines its plan to maintain the highest standards of governance in terms of Corporate Governance, Risk Management and Ethical Supply Chain Management.
Within this report, Geoquip Marine makes ambitious commitments to ESG, outlining a mission, values and guiding principles to sustainability, establishing several bold targets and priorities to contribute positively to the United Nations Sustainable Development Goals (SDGs) and identifying a range of KPIs and metrics from the Sustainability Accounting Standards Board (SASB) framework.
Geoquip Marine specifically pledges in the report to lower its harmful emissions year on year with a target to become carbon neutral by 2040. If the report is printed, the company will aim to use only recycled paper stock.
“There are very good reasons why ESG and sustainability reporting is becoming more prevalent in today’s business world, and these relate not just to good PR but are also founded in the need to operate as efficiently as possible, to streamline business practices and to be as resourceful and least wasteful as possible,” comments Geoquip Marine’s Environmental Project Manager Claire Gold.
“It is a testament to the foresight of Geoquip Marine that it has demonstrated a desire to become a pioneer in ESG in its markets and this report is the first step in turning the understanding of the need to improve performance into the tangible operational changes that will ensure those improvements are delivered,” Claire adds.
“In the last couple of years it has become apparent that companies are more likely to succeed if they acknowledge the needs of all stakeholders, including employees, clients, suppliers, wider society and, crucially, the environment and people are now so well invested in this need that it isn’t good enough to pay lip service to it. This is a vital component of any well managed business and most especially one that regularly operates in innately challenging conditions with safety critical equipment in sensitive environments,” Claire explains.
“For the report to be successful it has to be an honest and accurate assessment of where the company is doing well but more crucially to also identify the key areas, targets, and opportunities for improvement, so that we are pushed to adopt more responsible business operations and activities,” she adds.
“The measures we have identified and adopted are specifically designed to reduce our negative impact on the environment, to minimise our exposure to risk and new legislation, to promote the welfare and wellbeing of employees, which will help us to attract and retain the best talent to our staff and to take a leading role in raising the need to operate sustainably and responsibly in our markets. I’m absolutely delighted that this inaugural report has now been published and we will ensure that it is comprehensively reviewed and published annually in the future,” Claire concludes.
Chief Executive Officer Stewart Higginson is proud of the commitment made by Geoquip Marine and clear about the need for ESG.
“Since the world was challenged by the events of the global pandemic in 2020, so too has our industry and our company had to adapt to an ever-changing environment. We have nonetheless experienced unprecedented growth over this period and our development as a sustainable business is highlighted by the content of this report,” he explains.
“Sustainability entails good governance, a positive relationship within the environment and connection to society is one of the core pillars of our business. Since 2021, we have formed an ESG Committee and have refreshed our Environmental Policy Statement and Green Mission Statement to reflect our values and support for the energy transition to offshore wind energy, which is now by far our most critical market.
“This report builds a compelling picture of how Geoquip Marine is doing our bit for the benefit of society, the environment and our broader stakeholder community and we are very proud to have taken this pioneering first step in our markets,” Stewart concludes.