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Boskalis jaarverslagen 2012

About this report

Purpose and process of the report

In this Corporate Social Responsibility (CSR) report we provide an account to all our stakeholders of the CSR policy we pursued in 2014. The Board of Management is responsible for the preparation of our CSR report, which is compiled by a multidisciplinary CSR team. Our consolidation takes place at successive levels, starting with the projects and local office organizations, moving on through the relevant business units and staff departments and ending with the consolidated group reports. The criteria are set out in our CSR Reporting Manual that our Group Accounting & Reporting department uses to monitor and validate the content of this sustainability report. The report is subject to approval by the Board of Management of Boskalis and its contents are discussed in their entirety with the Supervisory Board.

Following the guidelines

We have been publishing a CSR report alongside our annual report since 2009. We report in accordance with the international guidelines set out by the Global Reporting Initiative (version G3.1), at application level B. We are preparing for the new GRI 4 guideline. The GRI table shows which indicators we report on.

Scope

We report on Boskalis, including the activities of SMIT, Dockwise, and Fairmount.
The CSR accounting principles for 2014 changed due to the implementation of the new IFRS 11 Joint Arrangements that revised the accounting for joint ventures (in the new standard called ‘joint arrangements’). Joint arrangements are divided in joint ventures (‘strategic alliances’) and joint operations (‘project driven consortia’). Most important change is that for joint ventures only the equity method can be applied, meaning that these are not consolidated proportionally anymore. As a result, joint ventures and associated companies and other companies in which the Group does not have control have been excluded from the CSR data. The accounting for joint operations is not changed as a result for IFRS11; these are still consolidated proportionally in the CSR-data. To secure comparability, the CSR-data regarding 2013 have been restated accordingly; primarily affecting our Harbour Towage accounting and to a lesser extent our Offshore Energy and Dredging & Inland Infra accounting. Applying the same financial consolidation principles to CSR data helps us establish the sustainability indicators, which can be compared directly with financial data, thereby providing context for our performance.

In addition, the following considerations apply to our environmental performance:

  • Applying a quantitative target to our annual fuel consumption is not meaningful as long as the carbon emissions of our fleet cannot be linked to the relative emissions for each production unit. It is our aim to establish an industry standard and we are in talks with others in the sector to achieve this.
  • Our CO2 reporting comprises our ships and permanent offices, which together account for around 95% of emissions.

Estimating, measurement and calculation methods

CO2 conversion

ISO and ISM norms were used for the conversion of fuel to CO2:
  • For the conversion of volume to weight, ISO specification 8217E was followed and the following specific gravity per liter was used:
    – MGO/MDO 0.845kg
    – HFO 0.991kg.
  • For the conversion of MT fuel to CO2, the IMO RESOLUTION MEPC.212(63) was followed and the following conversion factor was used per MT fuel:
    – MGO/MDO 3,206 MT CO2
    – HFO 3,114 MT CO2.

LTI Lost Time Injury

Expresses the number of workplace accidents serious enough to result in absence from work per 200,000 hours worked. The LTIF overview in this report states how this has been worked out in the various business units.

Reliability

In 2014, many of our efforts have targeted the preparations for the new organizational model. In the years to come, the focus will be on ongoing implementation and streamlining. The ambition stated in 2013 of having the entire CSR report verified by an independent external party remains. This report takes an important step in that direction with the extension of the scope. We expect to continue this development in 2015 and therefore to be in a position to present a fully verified report within two or three years.

Publication Date

The 2014 CSR report was published simultaneously with the 2014 Annual Report on 12 March 2014 on the corporate website www. boskalis.com.

Contact

We greatly appreciate any suggestions you may have for improving our CSR policy and the way we report on it. We are happy to engage with you on this subject and cordially invite you to contact: Martijn L.D. Schuttevâer Director of Investor Relations & Corporate Communications Telephone: +31 (0)78 6969822 E-mail: csr@boskalis.com Website: http://www.boskalis.com/csr

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