Sustainability

 

A Decade of Explore Green™

 

  

2018 saw a year of improvements in the marine seismic industry after an extended period of challenging market conditions. At Polarcus, we have demonstrated that our focus on operational excellence and efficiency and minimizing our environmental impact has been truly aligned with navigating the subdued market and optimizing the sustainability of our business.

2018 marked ten years since the inception of Polarcus. From the outset, Polarcus has remained committed to responsibly delivering high quality geophysical services with the interests of all our stakeholders in mind. Importantly, during 2018 we recognized the 10-year service achievements from a number of our employees who have been with us since the beginning of the Polarcus journey, all of whom have been key contributors to where the company is today.

Polarcus is known across the broader exploration and production industry as a company that is differentiated by our demonstrable commitment to the environment. We have a reputation as an environmental pioneer with a track record of measuring and striving to continually reduce our gaseous, liquid and solid emissions in our business. The impending implementation of IMO 2020 regulations, related to the sulfur content of fuel consumed in marine operations, is a great example of Polarcus leading and influencing positive change in the marine seismic industry. While many companies are dealing with reactive complexities, modifications and costs to meet the IMO 2020 regulations, Polarcus has been IMO 2020 compliant since the company was founded in 2008.

Polarcus continues to champion environmental focus through our Explore Green™ agenda. This is supported by an unwavering adherence to the Polarcus Core Values of Responsibility, Innovation and Excellence, which also hold us true to many other accountabilities towards our people, our customers and our shareholders.

An important cornerstone of our approach to sustainability is our commitment to business ethics. Polarcus operates all around the world where business practices can vary significantly. In this report you will gain further insights on how Polarcus ensures best practice in business ethics is maintained across our global operations, including our role in the World Economic Forum and the Partnering Against Corruption Initiative.

In the Polarcus 2018 Sustainability Report we share with you a number of initiatives that demonstrate our ongoing commitment to responsibly impact positive sustainable change to the benefit of all our stakeholders, and of our continued efforts to inspire our peers to follow our example. If you have any comments or feedback on this report or any related issues we would be delighted to hear from you.

Duncan Eley
CEO

  

 

 

 

  

  

Responsibility: we dig into the Polarcus Explore Green™ agenda to demonstrate just how far Polarcus has gone to pioneer environmental leadership in our industry, in addition to delivering unwavering focus on safety, security, business ethics and contributing to the communities in which we work and live.

  

Innovation: the unique design and functionality of Polarcus vessels have been differentiating features of the Company from the outset. Our innovative approach has continued, and has evolved further, through exciting new mechanical, maritime and geophysical initiatives. Such initiatives have enabled Polarcus to continuously challenge and re-define the norms of our industry.

  

Excellence: here we focus on the glue that holds everything together - our people. Attracting, developing and engaging our highly talented workforce enables us to deliver our industry-leading performance and maintain our safety, operational and geophysical excellence.

 

 

 

 

  

 

 

 

Sustainability Reporting

 

We continuously strive to improve the sustainability of our operations through appropriate application of our policies and procedures on which we report in this document. Our first CSR report was published in 2014 and since then we have committed to publish our CSR contribution annually in order to outline our business impact on the industry and the world around us. Our 2018 Sustainability Report has been has been produced in accordance with the GRI standards: “Core Option”, in an effort to maintain and continually improve transparency in our reporting.

  

 

 

  

 

 

Innovation

 

We strive to continually change and improve our industry through innovation. Through innovation we aim to make our offerings more competitive through improved quality and efficiencies. By staying true to our Core Values we have been able to recognize additional benefits through innovation such as:

  • Raising client awareness of vessel emissions and environmental impact in the tender review process through the innovative Explore Green™ agenda
  • Driving improved towing capability of our vessels in combination with reduced fuel consumption through our innovative approach to drag reduction across our fleet
  • Providing clients with a vastly improved combination of acquisition efficiency in combination with data imaging quality through our innovative XArray™ acquisition technique which has driven a significant number of contract awards during 2016
  • Delivering tangible value to our clients for their exploration cycles by providing high quality on-board processing products directly from our vessels within very short timelines through our innovative Priority Processing initiative that we have developed in combination with DownUnder GeoSolutions.