2024 McDermott Sustainability Report - Report - Page 2
Our Path
Our Approach
Environment
Social
Governance
Framework Alignment
Performance Data
2 0 2 4 S u st a i n a b i l i t y Re p o r t
ABOUT THIS REPORT
REPORTING METHODOLOGIES AND FRAMEWORKS
ADDITIONAL INFORMATION
In our 昀椀fth annual report, we provide an overview of our
business strategy for managing risks and opportunities, and our
performance against stated sustainability goals and targets.
McDermott referenced the following international and industry
best practices and ESG frameworks, as applicable, to develop this
report:
Those targets are based on the United Nations Guiding Principles,
industry best practices, materiality, and our broader business
strategy. We continuously re昀椀ne our approach in response to
evolving regulations and stakeholder expectations, ensuring we
contribute to a sustainable transition as we build infrastructure
that supports access to energy resources.
• Global Reporting Initiative (GRI) Standards
McDermott cautions that statements in this communication which
are forward-looking, and provide other than historical information,
involve risks, contingencies, and uncertainties that may impact
McDermott’s actual results of operations. These forward-looking
statements include, among other things, statements about
McDermott’s sustainability plans and targets and the associated
timing to achieve those targets.
As part of this commitment, we are also preparing to report
under the European Sustainability Reporting Standards (ESRS) as
mandated by the Corporate Sustainability Reporting Directive
(CSRD), further demonstrating our focus on transparency.
• United Nations Sustainable Development Goals (UNSDGs)
• Task Force on Climate-Related Financial Disclosures (TCFD)
framework
• Value Reporting Foundation’s Sustainability Accounting
Standards Board (SASB) Infrastructure – Engineering &
Construction Services (IF-EN) metrics
• International Petroleum Industry Environmental Conservation
Association (IPIECA)
• International Association of Oil & Gas Producers (IOGP)
REPORTING PERIOD
• American Petroleum Institute (API) sustainability reporting
guidance
January 1, 2024 – December 31, 2024 (unless otherwise noted)
• International Financial Reporting Standards (IFRS)
• European Sustainability Reporting Standards (ESRS)
REPORT BOUNDARIES
ASSURANCE AND REVIEW
This report covers activities under direct operational control
of McDermott International, Ltd., including our headquarters in
Houston, Texas, USA. McDermott completed the divestment of its
CB&I storage business on December 9, 2024.
We continue to trust our Internal Audit and Financial Reporting
teams for review of information and data contained in this report
as we explore third-party assurance options for our future reports.
IMAGERY
Some of the images used in this report are artistic impressions.
QUESTIONS OR FEEDBACK
We welcome your feedback and questions about our Sustainability
strategy and performance. Please direct them to:
sustainability@mcdermott.com
Although we believe that the expectations re昀氀ected in those
forward-looking statements are reasonable, we can give no
assurance that those expectations will prove to have been
correct. Those statements are made by using various underlying
assumptions and are subject to numerous risks, contingencies,
and uncertainties, including, among others: adverse changes
in the markets in which we operate or credit or capital markets;
our inability to successfully execute on contracts in backlog;
changes in project design or schedules; the availability of quali昀椀ed
personnel; changes in the terms, scope or timing of contracts,
contract cancellations, change orders, and other modi昀椀cations
and actions by our customers and other business counterparties;
changes in industry norms; actions by lenders and other creditors
of McDermott and adverse outcomes in legal or other dispute
resolution proceedings.
If one or more of these risks materialize, or if underlying
assumptions prove incorrect, actual results may vary materially
from those expected. This communication re昀氀ects management’s
views as of the date hereof. Except to the extent required by
applicable law, McDermott undertakes no obligation to update or
revise any forward-looking statement.
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