Environment, Social, Governance (ESG)
In the Environmental sphere, we recognise the role the energy transition has to play in our industry’s commitment to net zero targets.
In line with our strategy, we are actively seeking opportunities to participate in the energy transition, including developing our St Fergus site into an energy transition hub. At the same time, we recognise the importance of security of supply and the role natural gas will have during the energy transition. We must, therefore, continue to operate as efficiently and as respectfully toward the environment as possible.
In terms of our Social and Governance aspirations, we operate our business in a manner that protects and promotes the safety of our stakeholders. We work proactively with all our stakeholders and care about the local communities in which we operate. We put in place the right processes to ensure that our business is managed in the right way.
Our stakeholders include, but are not limited to:
- Government & Regulatory authorities
- Shareholders
- Employees
- Partners and suppliers
- Customers and counterparties
- Local communities
- Local landowners
- Debt providers
The way we engage with stakeholders is governed by our values and policies, the fundamentals of which are integrity, honesty, transparency, accountability and respect. While building and operating infrastructure, we are committed to respecting local landowners and communities, maintaining safe operations and promoting environmental stewardship.
We have undertaken a Materiality Assessment identifying relevant ESG topics that have the greatest impact on our business and are of concern to our stakeholders. We also examined these topics by assessing them against sustainability and ESG benchmarking frameworks such as GRESB (Global ESG Benchmark for Real Assets), Task Force on Climate-related Financial Disclosure and Sustainable Development Goals.
Our ESG Priorities are those issues that featured prominently in our assessment as being of high importance in terms of business impact and stakeholder concern. They are:
- Safety
- Carbon Emissions
- Energy Use
- Adaptability /Resilience to Climate Change
- Community Development
- Diversity Equity & Inclusion
- Labour Standards/Practices
- Effective Governance Practices
- Anti-Bribery & Corruption
We have identified the Sustainable Development Goals that align with our material topics:
Environment
SDG 13: Climate Action
We care for the environment and strive to minimise the impact of our activities, both on and offshore. Our aim is to conduct our business activities in a sustainable manner. Where we can, we ensure that our business operations reduce our carbon emissions and we make sustainable investment choices, whether in new business assets, or in modernising or replacing our existing infrastructure.
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Total Scope 1 GHG emissions | 94,830* | 102,217 | 103,790 |
| Total Scope 2 GHG emissions (Location-based) | 13,850* | 12,322 | 1,379 |
| Total Scope 2 GHG emissions (Market Based) *Verified and assured |
49,104* | 1,489 | 969 |
SDG 13: Climate Action
We take very seriously our responsibility to deliver energy to consumers reliably every day, 365-days-a-year. Understanding the potential climate impacts on our systems is core to NSMP’s long range focus and we regularly update our assessments and also employ new / emerging techniques and ways of thinking.
Carbon Capture and Storage
SDG 13: Climate Action
We own a 10% stake in the Acorn Carbon Capture & Storage project which was awarded Track 2 status by the UK Government in 2023.
In line with our strategy, we are undergoing continuous improvement in asset efficiency and performance optimisation, complemented by ongoing enhanced reporting and disclosure.
SDG 7: Affordable and Clean Energy
Target 7.3: By 2030, double the global rate of improvement in energy efficiency.
Enhancing efficiency across all our systems, combining assets to deliver resources more efficiently, and increased electrification are the primary focus areas of NSMP’s strategy to reduce energy use across our business operations.
We are focusing on enhancing efficiency across all our systems and sites.
We support our industry’s journey to Net Zero
Short Term Plan
- Include enhanced disclosures aligned to the Task Force on Climate-related Disclosures in our annual report and accounts, further to NSMP’s commitment in this area.
- Increase the energy efficiency of our operations by optimising performance and targeting the use of low or zero-carbon electricity across our operations.
- Support and motivate our suppliers, contractors and partners to minimise their carbon footprint.
- Support the development of the Acorn project both as an owner and as host and service provider.
- Continue to progress our Emissions Reduction Action Plans in line with the NSTA’s targets.
Medium / Long Term Plan
- Increase the use of low or zero-carbon electricity across our operations.
- Continued investment and expansion of our assets to support transition.
- Participate in projects key to the delivery of net zero, including CCS, to biogas / LNG and electrification./li>
Social
SDG 8: Decent Work and Economic Growth
Target 8.8: Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment.
We provide over 1,000 local jobs at our sites in Risavika, on Teesside and at St Fergus. We ensure that our operating partner maintains employment standards that protect and rights of individuals and promote a safe and secure working environment in line with both UK and Norwegian employment legislation. NSMP and our operating partner, px Group, are committed to ensuring we have relationships with our partners and suppliers that are professional, effective and based on mutual respect. We are committed to seeking out and sharing best practices to deliver continuous performance improvement.
SDG 8: Decent Work and Economic Growth
Target 8.8: Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment.
We take legal obligations seriously and we aim to contract with responsible third parties who share our commitment to sustainability, ethical practices, and social responsibility. To ensure alignment with our values, we have adopted a Code of Conduct which sets the standards that we expect from third parties contracting with us. By partnering with like-minded organizations, we aim to enhance our positive impact on the environment and society, while maintaining the highest standards of governance.
NSMP supports Good Business Pays and is committed to paying suppliers fairly and quickly.
SDG 10: Reduced Inequalities
Target 10.3: Ensure equal opportunities and end discrimination.
Target 10.4: Adopt fiscal and social policies that promote equality. In 2024, we achieved a balanced gender split on our Leadership Team.
We value diversity of gender, background, perspective and experience, and are committed to creating a culture of inclusivity. It is our policy to recruit talent based on skill, knowledge, attitude and experience, without discrimination on the basis of gender, sexual orientation, age, family status, ethnic origin, nationality, disability or religious belief. In 2020, we successfully focused our efforts to broaden diversity within our organization.
DEI is a priority for our Board and the People & Remuneration Committee review the culture of the organisation to ensure that we continue to maintain an inclusive work environment. We have continued to progress our efforts on DEI and in 2024 we achieved a balanced gender split on our Leadership Team.
| % Female | Employees | Leadership Team |
|---|---|---|
| 2020 | 18% | 0% |
| 2024 | 50% | 50% |
Health, Safety & Environment (HSE)
NSMP is committed to protecting the health and safety of our people and partners, and those who may be affected by our activities.
Health, Safety & Environment Policy
Governance
Target 8.8: Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment.
The safe operation of our assets is our top priority. Safety is one of our core values and we are committed to managing our business in a responsible manner that seeks to eliminate harm to people and minimises adverse impacts on the environment. We promote a culture in which all personnel share the same commitment to health and safety and recognise the importance of mitigating risks. We believe that our approach to safety is critical to the success of our business as safety breeds reliability.
Safety Principles
All of our personnel are expected to adopt, embrace, promote, and follow these basic principles:
Our Achievements
Employee well-being program implemented for all staff, providing support for personal and work-related issues that might be impacting their performance wellbeing, mental or physical health.