2022Corporate Sustainability Report
"... our services have always supported the path to energy transition and integration, and we want to be at the forefront of the world's initiative to more
sustainable energy
options."
Owen Kratz
President and Chief Executive Officer
Helix Energy Solutions Group, Inc.
2022 HLX Corporate Sustainability Report | 2
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Introduction |
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Table of Contents |
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Introduction .......................................................... |
4 |
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Letter to Our Stakeholders........................................................ |
4 |
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About Helix.................................................................................. |
6 |
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Key Features of Helix Services................................................... |
7 |
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Environmental ....................................................... |
10 |
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Production Maximization and Decommissioning Services... |
11 |
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Case Study: Maximizing Reserves............................................ |
13 |
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Helix Fast Response System...................................................... |
14 |
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Alliance Acquisition..................................................................... |
15 |
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Offshore Renewables Services.................................................. |
16 |
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Case Study: Offshore Renewables and Wind Farms.............. |
17 |
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Climate Change - Risks and Opportunities............................. |
18 |
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Management and Impact of Climate-Related |
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Risks and Opportunities............................................................. |
20 |
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Greenhouse Gas Emissions....................................................... |
22 |
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Climate Change Snapshot......................................................... |
23 |
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Helix Climate Change Targets................................................... |
24 |
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Sustainability Strategy to Meet Our Targets........................... |
25 |
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Challenges to Meet Our Targets............................................... |
26 |
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Carbon and Climate.................................................................... |
27 |
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Biodiversity.................................................................................. |
29 |
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Helix |
Environmental |
Social |
Governance |
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Social..................................................................... |
32 |
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Human Capital Management.................................................... |
32 |
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Global Workforce Profile............................................................ |
34 |
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Culture: Fostering Diversity, Equity and Inclusion.................. |
36 |
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Key Policies.................................................................................. |
38 |
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Safety............................................................................................ |
42 |
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2021 Safety Snapshot................................................................. |
43 |
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Governance........................................................... |
46 |
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Board Committees...................................................................... |
47 |
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New Board Members................................................................. |
48 |
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Board of Directors Matrix.......................................................... |
49 |
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Enterprise Risk Management.................................................... |
50 |
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Our Leadership Team................................................................. |
52 |
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Stakeholder Engagement.......................................................... |
54 |
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Data Privacy and Security.......................................................... |
55 |
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About this Report................................................... |
56 |
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Forward-Looking Statements................................ |
56 |
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Appendix................................................................ |
57 |
2022 HLX Corporate Sustainability Report | 3
|
Introduction |
Helix |
Environmental |
Social |
Governance |
Letter to Our Stakeholders
The past two years have proved challenging for all businesses, and ours was no exception. COVID-19 and the global threat of climate change remain realities that, as a good corporate citizen, we need to address and take real action to manage. Despite ongoing uncertainty, sustainability continues to drive our business strategy and decision-making with a renewed focus on our commitment to and participation in the world's energy transition.
While this commitment and participation are
elements highlighted in this Report, they have always formed a part of our core business model evident in the products and services we provide. This model aligns with the underlying principle that fossil fuels will not be eliminated from consumption as we and the world strive for better emissions, but rather there will be a transition from relying primarily on fossil fuels to a more integrated approach that includes renewable energy.
Our services provide a path to that integration. At their highest level, they include
- production maximization, (2) decommissioning and (3) renewable energy support. These resources target energy transition at multiple points and through a variety of mechanisms. First, we assist our customers with maximizing remaining reserves from each well. By producing more hydrocarbons from existing wells, we help clients address the challenge of replacing production reserves. This extends the useful life of wells allowing for greater recovery and diminishing the need to drill new wells. Second, once a well is at the end of its useful life, we safely decommission the well in both deep and shallow water to prevent uncontrolled releases into the subsea environment and to return the seabed to a habitat suitable for maintaining the biodiversity of the area. Third, we facilitate the implementation of renewable energy and reduced emissions technology by providing jet trenching, boulder removal and unexploded ordnance (UXO) clearance. We implement a variety of tools, techniques and protocols designed to minimize emissions and our footprint on the environment.
As noted in our 2021 Corporate Sustainability Report, avieco, a sustainability consultant, determined that Helix's vessels, in comparison to a conventional drilling vessel, were 31% more efficient and reduced the time to complete the same well intervention task by almost 50%. This equates to a 60% decrease in emmissions when using a Helix vessel compared to a drillship.
We are not only looking outward at how our services can reduce the environmental impact of our customers' operations, but we are also looking inward to implement structures and strategies to reduce our own carbon footprint on and offshore. In 2021, we released our inaugural 5-year Greenhouse Gas (GHG) Emission Targets from the baseline year 2019. I am pleased to note that we are on track in our reduction efforts with a nearly 8% decrease in our Scope 1 emissions, a 30% decrease in our Scope 2 emissions, and a nearly 43% decrease in our Scope 3 emissions. We will continue to evaluate our strategy and targets in light of the progress we have made and our acquisition of the Alliance group of companies in July 2022.
We provide substantive support in the monumental task of energy transition by not only facilitating a shift by legacy oil and gas providers to enhance production and decommission more efficiently, but also aiding the renewable energy sector in creating necessary infrastructure to implement cleaner energy solutions. Our service offerings act as a meaningful component of the world's transition to a lower carbon economy and provide a lower cost and environmentally responsible solution for decommissioning offshore wells. In short, our assets are uniquely designed to enhance and extend the lives of existing oil and gas reserves, eventually decommission those oil and gas reserves, and lay the groundwork for the future of energy.
As we progress our sustainability strategy and goals, we continue to revisit one underlying theme - our services have always supported the path to energy transition and integration, and we want to be at the forefront of the world's initiative to more sustainable energy options.
We look forward to the future of Helix and our commitment to energy efficiency.
Owen Kratz
President and Chief Executive Officer
Helix Energy Solutions Group, Inc.
2022 HLX Corporate Sustainability Report | 4
"Safety, Sustainability and Value Creation - our core goals - support our
vision as a preeminent offshore energy transition company."
Owen Kratz, President and Chief Executive Officer
Helix Energy Solutions Group, Inc.
2022 HLX Corporate Sustainability Report | 5
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Helix Energy Solutions Group Inc. published this content on 01 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2022 17:44:14 UTC.
