Our goal is to provide relevant, financially material, and industry specific sustainability information to stakeholders.

GOVERNANCE

The Shelf Drilling Board oversees the Company’s risk management process, including ESG (Environment, Social and Governance) practices and reporting, and consequently reported on the Company’s ESG-related practices and performance in its Board of Directors Report contained in the Company’s 2020 Annual Report. Please click here for more information on our governance.

STANDARDS AND FRAMEWORKS

Shelf Drilling’s ESG reporting is based on recommendations from the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), the Task Force on Climate related Financial Disclosures (TCFD) and the Oslo Stock Exchange (Euronext).

STAKEHOLDER ENGAGEMENT

Shelf Drilling recognizes that sustainability issues are important for our customers, investors, and other stakeholders, and engages with key stakeholders on a continuous basis. We have developed and adopted ESG-related policies or enhanced our ESG-reporting frameworks in response to stakeholder feedback.

INDUSTRY INITIATIVES

We are a member of the International Association of Drilling Contractors (IADC), and pay close attention to industry developments and the future of oil and gas companies in relation to sustainability.

Shelf Drilling supports the United Nations Sustainable Development Goals (SDGs). Shelf Drilling recognizes that corporations have a responsibility to maximize the positive impacts and minimize the negative impacts of its company, of its industry – and for our planet. We have identified the above-mentioned SDGs as the most material to our business.

End poverty in all its forms everywhere

Shelf Drilling has established operations in countries where poverty-related issues are prevalent. By investing in local communities through direct employment and skill development, and local sourcing of goods and services, we generate real opportunities for the overall economic growth of the communities where we work, thereby contributing to the goal of ending global poverty.

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

Our company strategy of having high national content promotes “in-country” employment, training, supply chain development and wealth creation in all countries of operations, ensuring inclusive economic growth.

Shelf Drilling has a policy commitment to respecting fundamental human rights as described in the UN Guiding Principles on Business and Human Rights, which includes the International Labor Organization (ILO) Fundamental Conventions.

Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

With our long-term presence and scale of operations, we provide relatively stable employment opportunities and consequently play an important role in the industrialization process in the countries where we operate. Our high national content of 87% of offshore employees further enhances the stability of our operations and closely aligns with the interest of the governments and customers where we work.

Take urgent action to combat climate change

Although operating in an emissions intensive industry, Shelf Drilling’s core operating areas and jack-up rig fleet have relatively lower emissions compared to other regions and offshore rig types. We have launched initiatives to educate our workforce and provide the necessary support to lower the emissions from our operations.

Conserve and sustainably use the oceans, seas and marine resources for sustainable development

Shelf Drilling has strict rules for managing discharges to the sea. Discharges from drains and other containment devices pass through treatment facilities prior to discharge to ensure pollution levels are below required norms. Shelf Drilling does not measure the volume of water-based drilling mud (and associated cuttings) that may be discharged overboard as a result of the customer’s drilling program
and disposal procedures. Some chemicals contained within the water-based mud may have ecological effects.

Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

Shelf Drilling is committed to honest, transparent and ethical conduct. We have zero tolerance for corruption and are committed to achieving the highest standards of compliance with applicable regulatory frameworks and good business practice. We have embedded these values in our way of working with customers, suppliers, employees, shareholders and the communities in which we operate. Our commitment to responsible business conduct is outlined in our Code of Business Conduct and Ethics and its supporting policies.

KEY RATINGS AND SCORES

Grade B

Shelf Drilling 2019 Score

Grade C

Shelf Drilling 2020 Climate Change Score