McDermott Releases 2022 Sustainability Report

McDermott announces the release of its 2022 Sustainability Report. Alongside its customers and employees, McDermott incorporates sustainability and safety into its daily operations. This report demonstrates the company’s commitment to sustainable practices and progress in strategy, governance, climate risk management, strategic partnerships, and reporting. The data and information in the report also represent the company’s progress in developing sustainable, low-carbon solutions by combining innovative strategies with environmentally and socially responsible practices.

“As our customers set ESG targets and work to meet and exceed their stakeholder expectations, they increasingly rely on McDermott for innovative methods and low-carbon solutions leveraging our more than 100 years of complex project experience,” said Michael McKelvy, McDermott’s President and CEO. “With our customers, we are advancing global decarbonization through low-emissions options across our engineering, procurement, and construction operations.”

Key highlights in the report include McDermott’s proactive approach to managing climate risk. The company recognizes the significance of climate change and ESG matters and is taking action to minimize its carbon footprint and the environmental impact of projects it designs and builds for customers. McDermott also expanded its partnerships and collaborations to draw on cross-functional expertise to support customers navigating the energy transition. In 2022, the company achieved industry-leading safety performance, met local content targets ahead of schedule, enhanced human rights due diligence across operations, and improved local communities through social investment programs.

“McDermott is committed to sustainable, positive improvement in the communities where we operate, for our customers, and for our employees and the world,” said Rachel Clingman, McDermott’s Executive Vice President, Sustainability, and Governance. “We matured our strategy and focus in 2022. We are aligned and working hand-in-hand with customers and stakeholders on specific plans and goals.”

The report was prepared in accordance with international frameworks and best practices, including the Global Reporting Initiative Standards, Sustainability Accounting Standards Board, United Nations Sustainable Development Goals, International Petroleum Industry Environmental Conservation Association, International Association of Oil and Gas Producers, the Taskforce for Climate-Related Financial Disclosures and American Petroleum Institute.