DEVELOPING OUR STRATEGY We have developed a new sustainability strategy in order to accelerate our actions across the topics most material to our business. Our recent materiality assessment and analysis have been essential to the process, as well as a closer alignment with the UN SDGs. Critically, the strategy has been formulated by the senior leadership team to ensure the ambition and action is closely aligned with and supports our business strategy. As we move forward in our sustainability journey, we will continue to prioritize these ambitions and actions throughout our business, with clients, suppliers and involving our employees. responsible business foundations. The shared value focus areas recognize Boskalis’ capability to create economic value while addressing societal needs and challenges. Our offshore energy infrastructure, particularly for offshore wind, is helping to advance the energy transition. Through our coastal defense and riverbank protection activities we are protecting people and the natural environment from rising seas levels and extreme weather events and through our marine salvage business we help protect economic value and the oceans from environmental disasters. We aim to advance our societal contribution to these shared value focus areas while at the same time strengthening our business. The second element comprises five sustainability focus areas: climate change, biodiversity and ecosystems, local community and development, employee and talent development and safety. These five areas, together with our shared value focus, are amongst the most material topics identified in our materiality assessment. It is in these focus areas that we want to further innovate and collaborate to develop and apply new technologies and approaches that can Our sustainability strategy is structured around three elements: shared value focus areas, sustainability focus areas and
help minimize the negative and enhance the positive impact of our business. While identified as material in our assessment, the topics of, sustainable innovation, partnerships and stakeholder engagement are not classified as sustainability focus areas as these cross-cut all sustainability topics and are considered key enablers and are integrated as such to support the delivery of the entire strategy, whilst economic performance is covered in our annual report. The third element and foundation of our strategy is to manage our business and projects in a profitable and responsible manner. Our responsible business principles continue to be framed in our General Code of Business Conduct and Supplier Code of Conduct, which are based on international guidelines and the Universal Declaration of Human Rights. We endorse the principles of the International Labor Organization and the OECD Guidelines for Multinational Enterprises. Through our sustainability strategy we aim to strengthen our contribution to the United Nations SDGs, which forms the blueprint for achieving a better and more sustainable future for all. Boskalis endorses the SDGs and focuses on contributing to the SDGs that are most relevant to our business, as described on pages 20 and 21. AMBITIONS AND TARGETS TO DRIVE PROGRESS To support delivery of our sustainability strategy, we have identified high level ambitions, defined the scope of our activity and established targets to measure our progress. These are presented in the framework opposite and are comprised of both quantitative and qualitative metrics and we will report on these in our reporting going forward. Some of these targets will be in development during 2020.
Strategy and ambition SUSTAINABILITY REPORT 2019 – BOSKALIS