3Sustainability Statement

In line with the EU Corporate Sustainability Reporting Directive (CSRD), SBM Offshore is committed to comply with European Sustainability Reporting Standards (ESRS) requirements.

This section explains how SBM Offshore has managed potential and actual impacts, along with risks and opportunities related to environmental, social and governance matters, focusing on the ESG Material Topics defined through a Double Materiality Assessment (DMA).

In 2023, SBM Offshore conducted the DMA in accordance with CSRD and ESRS requirements. This assessment focused on identifying and evaluating material impacts, risks and opportunities, laying the foundation for an enhanced sustainability statement.

Since then, SBM Offshore has reviewed and realigned the structure and narrative of the annual report to facilitate compliance with CSRD and ESRS requirements and give a clearer description of business activities and how strategic priorities are aligned with the defined ambitions and targets.

With a better defined reporting framework, SBM Offshore is focusing on refining data disclosures, which involves optimizing processes to collect, manage and validate the information, to ensure data accuracy and compliance. This included carrying out gap assessments to guide CSRD and ESRS implementation, and concentrating on areas such as governance, strategy alignment and the integration of SBM Offshore’s business model with identified material impacts, risks and opportunities. As a result, SBM Offshore is also reviewing and enhancing policies, actions, metrics and targets.

SBM Offshore will focus on continuously improving ESG data management and internal controls to enhance data quality, performance management and reporting. Concurrently, SBM Offshore will monitor the upcoming sector-specific standards and prepare for XBRL tagging requirements to ensure readiness and compliance.