Why ESG?

Our business is intertwined with environmental, social and governance concerns. A strong ESG proposition that can create value therefore makes sense. A strong regulatory push, higher society attention and extensive research showing a clear link to business performance all evidence the need for a convincing policy to safeguard our success.  

Our main objective is Safe and Sustainable operations. We acknowledge that our activities have an impact on the environment and society. Our strategic objective demonstrates our commitment to long-term sustainable value creation for owners, customers, employees and the society overall. A strong ESG policy can add business value by boosting top line, reducing operating costs, reducing business risk (e.g. intervention) and employee productivity. Further, a sustainable shipping businesses will likely achieve reduced ship financing cost. 

We support the principles of the United Nations’ Global Compact and the policies that advance the goals of the Paris Agreement. They shall act as a roadmap for all countries in the global effort for sustainable development towards 2030.

Island Offshore contribute to social and economic development in the communities we operate in, by delivering value creative services, jobs and developing people. We support all the 17 Sustainable Development Goals but focus particularly on the following goals:  

Island Offshore shall be aligned with industry practice and regulatory requirements for sustainability reporting. This includes reporting safety, environmental, emission and other essential ESG data on a regular basis. Our reporting shall outline clear and material ESG targets, performance against those targets, and relevant governance information on how material issues are managed by the company.  

We base our materiality assessment on the industry guidelines published by the Norwegian Shipowners’ Association. As such the list is not exhaustive but reflects the most material issues relevant for our industry.