McDermott has published its 2024 Sustainability Report, highlighting increased renewable energy source to 80% of grid electricity demand across its operations.
The company also achieved a 35% reduction in carbon intensity and ISO 50001 energy management certification at four major fabrication yards. It progressed delivery of the world's first large-scale green steel project and began fabrication of a second high-voltage direct current (HVDC) offshore converter station to support Europe's energy transition objectives.
The company also achieved a Total Recordable Incident Rate (TRIR) of 0.07 and a Lost Time Incident Rate (LTIR) of 0.01, among the best in the industry.
It doubled participation in internal training and talent development programs and was recognized by the Ugandan government for leading in-country workforce and capacity development programs for the second year.
This fifth annual report demonstrates McDermott's sustainability strategy. From early front-end engineering design to fabrication, construction, installation and commissioning (EPCIC), McDermott says its integrated delivery model, assets and high-performing workforce deliver sustainability successes in its operations and for customers.
"Safety and sustainability are core values embedded in our project execution, risk management, business strategy and customer priorities," said Rachel Clingman, McDermott's Executive Vice President, Sustainability and Governance and Chief Legal Officer. "Our internal team carefully monitors internal opportunities and performance, customer priorities and goals, as well as emerging regulation and opportunities to ensure excellence in EPCIC project delivery."
The report was prepared in accordance with international frameworks and best practices, including the Global Reporting Initiative Standards, Sustainability Accounting Standards Board, United Nations Sustainable Development Goals, International Petroleum Industry Environmental Conservation Association, International Association of Oil and Gas Producers, Taskforce for Climate-Related Financial Disclosures, American Petroleum Institute, European Sustainability Reporting Standards, and International Financing Reporting Standards.
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