Boskalis Sustainability Report 2020

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their technical viability and can be used on many of our vessels, representing a significant reduction in emissions. ‘Heavy’ biofuels, which need to be heated, are an effective alternative for larger vessels and we proved the technical viability of using 100% heavy biofuel on a dredger. Currently, these heavy biofuels are only economically viable in Northwest Europe. We are part of a global initiative looking at the potential of hydrogen for the shipping industry, as well as a joint industry project, Green Maritime Methanol, which explores the possibilities methanol could hold for the industry. Since it is widely available, methanol could represent an interesting fuel for new vessels that have been built to accommodate it. Further, in 2020 we became part of a joint academic and private sector consortium, Clean Shipping, led by TU Delft. The research will advance knowledge for the scaling of sustainable biobased value chains for maritime biofuels. EXPLORING CARBON OFFSET – BLUE CARBON As part of our actions to develop a low-carbon future for Boskalis we actively investigate sustainable options for offsetting residual emissions and preparing for potential future carbon markets. Early 2020, we signed a new collaboration agreement with Wetlands International, the global NGO dedicated to safeguarding and restoring wetlands, to carry out studies into the feasibility of developing ‘blue carbon’ opportunities.

Managing our impact on the environment SUSTAINABILITY REPORT 2020 – BOSKALIS This year we completed research into the emission reduction potential of different vessels and documented the carbon advantage; in specific cases, modifying the shape of the hull can cut fuel consumption by as much as 18%. Other improvements include using different coatings or reducing the water ballast on our vessels; even the polishing of propellers and hulls can reduce emissions by up to 8%. In 2020 we ran trials with water injection which reduced emissions of nitrogen oxide and soot. We also trialed Selective Catalytic Reduction (SCR); in 2021, partly as a result of this trial, we expect to be able to reduce nitrogen emissions by nearly 90% by installing SCR technology on two of our trailing suction hopper dredgers. We continually optimize vessels’ performance and efficiency through automation, of dredge pumps for example, and explore new technologies in the market on an ongoing basis. Early 2021 we added a multipurpose DP2 construction vessel Boka Tiamat to our fleet, which has been retrofitted with a Energy Storage System; this will reduce fuel consumption and emissions during DP (Dynamic Positioning) operations. NEW ENERGY SOURCES Boskalis continues to research alternative fuel types – ultimately, cleaner fuels will be the biggest enabler of global, sustainable business practices. However, since their use at scale is dependent on availability, economic feasibility and emerging technologies, they remain a mid- to long-term option. For now, light drop-in biofuels – blends of biofuel and marine gas oil – have proved FUEL EFFICIENCY In 2020 we started to develop dashboards for our vessels to improve awareness among crew members and to ultimately help drive down fuel consumption and CO 2 emissions. These dashboards display the fuel type and related emissions as well as the impact of vessel speed on total emissions. This will result in more accurate reporting; we are also looking at ways to monitor our vessels remotely. EMISSIONS REDUCTION PROGRAM The activities of our Emissions Reduction Taskforce, which are overseen by a member of our Board of Management, focus on five distinct areas within our CO 2 Emissions Reduction Program: ‚ Fuel efficiency – economically feasible technical measures and measures to influence behavior on ships and on shore; ‚ New energy sources – researching, investigating, piloting and scaling sustainable fuels and energy sources; ‚ Carbon offset and credits: exploring options for offset and preparing for potential future carbon markets; ‚ Trends, regulations and collaboration – working with others and keeping a close eye on emerging regulations and future trends in low-carbon shipping; ‚ Commercial offering – raising awareness of our solutions and making it simpler for our clients to select lower-carbon options for their projects.

Blue carbon refers to the (organic) carbon stored in marine and coastal ecosystems, mostly mangroves, salt marshes and