CSR Report 2018
CSR 2018 – BOSKALIS 13
INFRASTRUCTURE FOR GLOBAL TRADE According to the World Bank, infrastructure services are the backbone of development – they support essential services required to meet economic and financial, social and environmental objectives. In particular, the building of trade- related infrastructure in developing and least-developed countries is recognized as a key element to help accelerate progress towards achieving the Sustainable Development Goals. At Boskalis we are active in the construction and development of ports, access channels, energy infrastructure and roads around the world and our business activities are an enabler to economic development and improved trade potential in the places we work. Our presence at a project location creates jobs, training opportunities, local procurement and economic input through taxes. When we work on projects our activity is usually temporary, but the impact of our services through, for example, knowledge transfer or increased trade potential bring long term benefits. In 2018 we were active in a large number of trade infrastructure related projects. Noteworthy projects include the construction of port infrastructure in Duqm, Oman, the deepening of the Nieuwe Waterweg waterway and Botlek area in the port of Rotterdam and the contraction of the Greenfield port and access channel in Lekki, Nigeria. In addition, we are an active partner in The Flying Swans, a collaborative initiative to develop sustainable projects that combine socio-economic development with trade in overseas markets. We have been involved with this initiative since 2013 and we continue to contribute our knowledge and expertise, in particular on: innovative engineering, customized port solutions and sustainable design and construction. Our aim is to contribute to socio-economic development, whilst also acquiring insights into market demand and infrastructure needs which we can use to benefit our business. POPULATION GROWTH According to a recent United Nations report, the global population is projected to rise to 8.5 billion by 2030 and to 9.8 billion in 2050. A growing population underpins the other drivers of our business; climate change, world trade and energy consumption. It influences the long term trends in the geographic distribution of our markets as well as nature and conditions of the available labor force. A growing population will also increase pressure on space, natural resources and impact on the environment.
ENERGY INFRASTRUCTURE AND PREPARING FOR THE ENERGY TRANSITION
The scale of the energy infrastructure challenge is very large indeed. The International Energy Agency estimates USD 44 trillion is required in new energy supply infrastructure in the period to 2040. While an annual expenditure of USD 45 billion is required to address UN Sustainable Development Goal 7 and deliver affordable, sustainable and reliable access to modern energy services. At Boskalis we facilitate the development of energy infrastructure and can contribute to the global goal to enable access to affordable, reliable and modern energy for all. We are part of the energy transition, driven by the need to reduce energy related carbon dioxide (CO 2 ) emissions to limit climate change, as set out in the Paris Climate Agreement. We see our role both in terms of our approach to energy consumption and innovation for renewable fuels, as well as through the delivery of services to the renewable energy sector: in particular offshore wind. By creating cost-effective, infrastructural wind farm solutions, we are helping to achieve low-cost energy projects and to make renewables more attractive to clients and consumers. As one of the leading players in this market, we will keep expanding our role: by providing an even broader range of services for increasingly complex projects with ever-larger turbines. In combination with our cable-laying capabilities, we offer integrated solutions for the development of offshore wind farms that comply with strict European and international industry standards. In 2018 we were active in a large number of renewable energy related projects. Noteworthy projects included cable works for the Hohe See Offshore Wind Farm in Germany and the Arkona Offshore Wind Farm in the Baltic Sea. We also powered the large trailing suction hopper dredger, Prins der Nederlanden, with a biofuel blend on the Borssele offshore wind farm project, resulting in a substantial CO 2 reduction. The energy transition is driving growth in renewables, but the change is slow. The current reality is that, in line with a growing population, energy demand is rising, whereas renewables are not yet able to meet that need. According to the International Energy Agency, in 2017 energy demand grew by 2.1% and of this growth around 70% was met by oil, natural gas and coal. Dependence on fossil fuels is expected to remain and absolute fossil fuel volumes are predicted to grow in the short term. We therefore continue to foresee our role in the provision of services for all types of energy infrastructures. In 2018 we contributed to several significant fossil fuel related projects including the record- breaking transport of a 90,000 ton FSPO by the BOKA Vanguard from China to Brazil, the dredging and excavation works for the Turkstream gas pipeline and the rock installation for the Nordstream 2 gas pipeline.
To contribute in a sustainable manner, it is important we manage our business in a responsible way. You can read more about our approach to managing social and environmental impacts in the respective chapters of this report.
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