At Maersk Decom our vision statement is “Constantly rethinking decommissioning to maximise value and sustainability”. Since, our inception we have been on an exciting journey to deliver on this commitment. It seems fitting to share this journey given the global context, as society begins to reopen its doors. We are emerging into a world that looks a bit different albeit familiar, and may be headed in new directions, compared to the one we retreated from earlier this year. The vulnerabilities in our society have never been more obvious, yet daily global CO2 emissions have reduced by –17% (–11 to –25% for ±1σ) by early April this year. Between these lines is space for change, growth and the potential for a more sustainable future.
At Maersk Decom, we are determined to build sustainable decommissioning solutions that benefit society and our customers. Adopting this mindset has allowed us to rethink how we work and challenge the status quo. This is the foundation for how we are going to deliver on sustainability.
After a process of identifying emerging trends and engaging with colleagues, we have established a unique way of identifying opportunities for improved sustainability performance on our projects. This part of our process is framed by a tool we developed, affectionally called “The Cool Wall Principle”. More to follow in a later blog post about this! Based on the outcomes of this process we assign Environmental Social Governance (ESG) performance indicators to our projects, leverage the outcomes and create non-financial value for our customers. What does this mean? It is our ambition that during project close-out we will provide our customers with a report quantifying the project’s ESG performance. Customers can then use this data to support their organisational level ESG performance and strengthen their sustainability initiatives.
We are convinced that providing our customers with the possibility to obtain ESG metrics from their decommissioning projects will make a positive difference for them. There is a wealth of information available that describes how companies that perform well on this metric have outperformed those that don’t in response to the global pandemic. Financial and lending institutes look favourably on companies with a strong ESG performance, offering better investment opportunities and lending conditions. It is our hope that this initiative can also serve as inspiration for others in the decommissioning space, and we look forward to sharing more as we move along.
The next stage for us is to test this concept on our current projects. This work will commence in the autumn. We will use this initiative to scrutinise data that we can access, and then identify data gaps and the tools we need to strengthen our capabilities in this field. Working from there, we will refine our methods, and expect to be able to offer a fully-fledged ESG product to all our customers in 2021.