3.1.3Stakeholder engagement

ESRS 2 GOV-4; SBM-2; IRO-1, and ESRS E1; S1; S2; G1
SBM Offshore is committed to value creation and, supported by its Stakeholder Engagement Policy, maintains open and continuous dialogue with stakeholders to promote responsible business practices. Collaboration – one of SBM Offshore’s core values – plays a key role in driving value creation across the entire value chain.

SBM Offshore adopts an inclusive approach, encouraging transparent interactions and incorporating diverse perspectives from its stakeholders. These include employees, clients, suppliers, shareholders, lenders, regulators, classification societies, yards, partners, local communities and civil society organizations (including non-governmental organizations – NGOs).

Engagement with key stakeholders enables SBM Offshore to identify, assess, and manage impacts, risks, and opportunities (IRO) throughout the value chain. Insights gathered through these interactions facilitate the development of integrated strategies and actionable plans, including those informed by due diligence and environmental and social assessments conducted internally and by independent third parties. Continuous communication fosters a strong understanding of the business ecosystem and supports the development of the DMA.


ENGAGEMENTS WITH KEY STAKEHOLDERS

Model

Purpose

Key outcomes

Clients

  • Key account meetings
  • Engagement meetings
  • Project sustainability workshops

Build trust; propose solid and sustainable solutions to support clients to reach their goals; identify IRO inputs for DMA.

  • Service improvements
  • Improve business development strategies
  • Increase collaboration
  • Align and contribute to sustainability targets

Suppliers

  • Strategic sourcing meetings
  • Vendor days
  • Engagement meetings
  • Surveys
  • Supplier due diligence
  • Human rights assessments
  • Encouraging suppliers to fill in the CDP Supply Chain module to enhance transparency

Reinforce compliance with SBM Offshore Code of Conduct and policies; promote environment, human and labor rights protection, and a sustainable sourcing; identify IRO inputs for DMA.

  • Understanding of supplier expectations and behaviors
  • Create improvement plans
  • Selection of suppliers
  • Set expectations and collaborate on sustainability targets
  • Integration of human rights into business

Employees

  • Management calls
  • Surveys
  • Town halls, Life Day, Human Rights/Worker Welfare Day, Technology Conference
  • New employee onboarding experience session

Understand and incorporate employee perspectives, promote diversity and inclusion, and contribute to a sustainable workplace; identify IRO inputs for DMA.

  • Internal policy and actions updates
  • Communications from management
  • Global HR projects (job and competency referential and strategic workforce planning)
  • Embed sustainability into the organization through learning

Shareholders

  • Annual General Meeting, analyst and investor roadshows/meetings
  • Analyst webcast presentations
  • ESG rating discussions
  • Engagement with representative groups – e.g. VBDO (Dutch Association of Investors for Sustainable Development), VEB (Dutch investor association), Eumedion and ISS (Institutional Shareholders Services).

Understand sustainability expectations, enhance transparency; identify IRO inputs for DMA.

  • ESG rating improvement
  • Improve communication on business management
  • Enhance corporate reputation and trust

Lenders

  • Project environmental and social due diligence during project financing and the definition of actions plans
  • Engagement meetings
  • Site visit
  • ESG rating discussions

Meet sustainability expectations, attract responsible financing, increase transparency, reduce risk; identify IRO inputs for DMA.

  • ESG rating improvement
  • Answer lenders questions
  • Improve communication on business management
  • Enhance corporate reputation and trust
  • Improvement of environmental and social practice

Civil Society Organization

  • Engagement with representatives regarding business transparency and social impact projects

Address site-specific issues (environment, community development), business transparency, and social impact; identify IRO inputs for DMA.

  • Alignment of business with best practice
  • Initiatives to avoid corruption, human rights violations, environmental damage and others
  • Enhance corporate reputation and trust

Peers

  • Discussion sessions about new European regulations and best practices

Enhance regulatory understanding and share best practices; identify IRO inputs for DMA.

  • Increase collaboration
  • Enhance regulatory understanding and share best practices

Class Society

  • Engagement on further development of sustainability notations for FPSOs

Align sustainability practices and standards; identify IRO inputs for DMA.

  • Improve sustainability practices and processes

Yards

  • Human Rights and Worker Welfare Day
  • Engagement meetings
  • Emissions management monitoring and human rights action tracking
  • Surveys
  • Desktop research
  • Listening tours to engage directly with workers in the value chain

Reinforce compliance with SBM Offshore’s Code of Conduct and alignment with responsible sourcing practice; identify IRO inputs for DMA.

  • Understanding of yards’ expectations and behaviors
  • Create improvement plans
  • Set expectations and collaborate on sustainability targets
  • Integration of human rights into business

Business Collaboration

SBM Offshore is conscious of its place in the value chain of the offshore energy sector. By providing market-ready solutions to reduce emissions, SBM Offshore is diligently pursuing progress of the industry. For this reason, beyond the DMA process and its stakeholder engagement and outcomes, among others, the following engagements took place during the year1:



SBM OFFSHORE INVOLVEMENTS



More details

The International Association of Oil and Gas Producers (IOGP)

Co-chair of the IOGP Decommissioning FPSO Expert Group on Responsible Recycling and member of the IOGP Decommissioning Standing Committee since 2025.

Section 3.2.3

Participating in the Health Committee, which aims to develop evidence-based guidance and recommendations on a range of strategic health issues, including occupational, environmental and public health. It works towards a responsible and caring culture that enables people to perform to the best of their potential.

Section 3.3.2

Participating in the Process Safety Subcommittee, providing input on implementing Process Safety Fundamentals and Process Safety Indicators Guidelines, and chairing the Process Safety Barrier Definition Guideline.

Section 3.3.2

Participating in the Human Performance Subcommittee – development of a report to guide the members on the implementation of Human Performance principles across the oil and gas industry.

Section 3.3.2

Participating in Fatalities and Permanent Impairment Injuries Expert Group – development of a database of events and lessons learned to be shared in the oil and gas companies’ community and adopted the standard.

Section 3.3.2

Providing input to IOGP guidelines for design and operation to minimize/avoid flaring sources and guidelines for venting minimization and vent recovery systems.

Section 3.2

Participating in the Joint Industry Program – Standardizing Procurement Specifications and Capital Facilities Information Handover Specification.

Section 3.2

International Marine Contractors Association (IMCA)

Member of the Environmental Sustainability Committee and the Life Below Water Workgroup.

Sections 3.2 and 3.5

Members of the United Nations Corporate Data Group (as part of the Ocean Decade, this group aims at making privately owned data publicly available).

Sections 3.2 and 3.5

Member of the Safety Committee, actively participating in meetings and Safety standards development.

Section 3.3.2

Member of the Security Committee, developing guidance and booklets for the maritime industry. This committee works closely with the IMO (International Maritime Organization) and the OCIMF (Oil Companies International Maritime Forum).

Section 3.3.2

European Sustainability Reporting Standards

Participation in the consultation process for the ESRS to drive the harmonization of various standards and regulations.

Section 3.1

Ethics and Integrity

Membership of Transparency International Netherlands (TI-NL), participated in study assessing whistleblowing frameworks in the private sector. This study aims to assess the impact of the new Dutch Act for Whistleblower Protection on private sector companies.

Section 3.4.1

Membership of the International Chamber of Commerce (ICC) Netherlands.

Section 3.4.1.

Technology Development

Participating in the Floating Energy Research Forum and the Joint Industry Projects (JIP) exploring collaboration opportunities and advance future technology development. Participation involves engaging in open discussions on emerging research topics and shared challenges.

Section 3.2

In accordance with SBM Offshore’s Anti-Bribery and Corruption Policy, political contributions are not allowed. SBM Offshore does not participate in party political activity nor will it make contributions to political organizations or affiliated individuals of anything other than de minimis value.

For extra and complementary information about the main actions implemented and results, see the topical sections of these Sustainability Statements and the SBM Offshore website.