Borr Drilling, a modern international drilling company, aims to integrate sustainability into its business. The first step in the journey towards sustainability was to create a separate sustainability report. The engaging report shares the sustainability ambitions with the company’s employees, clients, and investors.
Non-financial reporting is becoming a high-priority issue to an increasing number of companies worldwide. This is also the case in the Netherlands. How do Dutch companies determine and measure KPIs, and collect data? Which systems do they use to facilitate this? In a series of conversations, we are asking well-known Dutch companies about their experiences with sustainability reporting. This time Wesley Schulte talks to Tjeerd Krumpelman, Global Head of Advisory, Reporting & Engagement at ABN AMRO. How does this bank deal with Integrated Thinking and Integrated Reporting?
For Borr Drilling, becoming more sustainable is an important goal. The company’s ambition is to be a sustainability leader among the offshore drilling community. For the coming years, a roadmap has been created with several key initiatives.
Creating a visually appealing sustainability report, with a clear message, is the first step in this journey towards sustainability. Until 2018, Borr Drilling’s sustainability report was part of the annual financial report. As Corporate Social Responsibility is such an important topic for Borr Drilling and its stakeholders, the aim for 2019 was to create a separate and appealing sustainability report. With this new report, the company wants to engage its stakeholders in its sustainability ambitions and results.
Mark Masterson - Environmental Manager at Borr Drilling
To identify the CSR topics that are material for Borr Drilling, the project started with a strategic kick-off and stakeholder analysis workshop in London. This strategic workshop with Borr Drilling’s senior management provided input for the report and highlighted elements for the sustainability roadmap for the coming years.
“I knew what I wanted to say, but I did not know how to present it,” says Mark Masterson, Environmental Manager at Borr Drilling. “Through the Stakeholder Workshops and Report design sessions, Intire and Springfish guided us to produce a very professional Sustainably Report that exceeded expectations.”
Intire and its sister company Springfish worked closely together during the project. “Sustainability Reporting requires expertise from a wide range of disciplines. The sustainability consultants of Intire have in-depth knowledge of sustainability and integration, while the experts of Springfish focus on communication and design,” explains Wesley Schulte at Intire.
To ensure the sustainability report contains the topics relevant to Borr Drilling’s stakeholders, the report's content plan is based on the outcome of the strategic workshop. “The stakeholder analysis is essential to ensure that all the important topics for stakeholders are included in the report. Based on this analysis, the content plan shows which topics should be visually highlighted in the design,” says Danielle Gruijs at Springfish.
The analysis showed that stakeholders were interested in various aspects of sustainability, therefore the content plan contained a different section for each sustainability topic. “I am pleased that the report consists of different sections; not just Environment, but People, Safety and Governance as well. This broader approach of sustainability is what we want to promote internally,” says Mark.
As this is Borr’s first sustainability report, the company plans to expand the reporting structure in the coming years. “To keep the project efficient and effective, we used a pragmatic approach,” says Jacqueline Wissing at Springfish. “For example, we created the design as an expansion of the existing corporate identity. For future reports, we can build onto this design.”
Magnus Vaaler - VP Investor Relations and Treasury at Borr Drilling
The sustainability report has been published on Borr Drilling’s website and was attached to the press release with the financial results. “Our investors want to know where Borr stands on sustainability. Our Sustainability Report 2019 clearly communicates this message,” says Magnus Vaaler, VP Investor Relations and Treasury at Borr Drilling.
The international company is enthusiastic about the results. “I’m very pleased with the quality of the end report. The focus, layout, and set up of the report are good, as well as the level of what was included. The report is detailed, with clear elements, and well supplemented with good graphical support of what we wanted to communicate,” says Thomas Brun Sunde, QHSE Director at Borr Drilling.
The report is only the first step in the company’s sustainability journey. “This was Borr Drilling’s first venture into sustainability,” continues Thomas. “Intire and Springfish have helped us through the complete process. This approach resulted in a sustainability report that is engaging and visually striking, and a clear insight into the topics that are material to our stakeholders. The report offers our employees and stakeholders clear information on our sustainability performance and ambition.”
The roadmap with key initiatives for the coming years is clear and included in the report. As for any company, however, the impact of Covid-19 is significant. As a natural consequence, some of the planned projects may have to be put on hold temporarily. Fortunately, the company still believes strongly in its sustainability ambitions. “Some of the planned new initiatives may take longer, but the current initiatives continue. For example, the safety and environmental procedures have not been abandoned,” says Mark. “These elements are fully integrated into our operational procedures.”
Please find the full sustainability report here.
Let's start this journey together. To create an appealing report, we work closely together with our sister organization Springfish, which specializes in content & design. Want to know more about how our pragmatic approach leads to an appealing result? Contact Wesley and discover the possibilities.
To give you a little insight into our working method, we have the 7 tips for creating your sustainability report for you. To download this report, fill in the form below.