McDermott Sustainability Report Spotlights Progress, Anchors Targets in Emission Reductions, Community Engagement, Governance

News provided by

Aug 02, 2021, 07:00 ET

HOUSTON, Aug. 2, 2021 /PRNewswire/ -- McDermott International, Ltd will accelerate its contributions to a low-carbon economy through its sustainability targets, which are outlined in the company's latest sustainability report, released today. The company's targets include:

50 percent reduction in scope 1 and 2 greenhouse gas (GHG) emissions by 2030
35 percent reduction in scope 3 GHG emissions for ten key supply chain categories by 2030
Zero office waste-to-landfill by 2025
50 percent reduction in waste generation by 2030
Specific milestones for advancing social investment, local content and human rights

The targets leverage years of analysis and the company's long history of delivering—and continuously improving—responsible energy infrastructure across the energy value chain.

"McDermott is a trusted business partner helping our clients energize the world," said Rachel Clingman, McDermott's Executive Vice President, Sustainability and Governance. "Our talented global workforce is proactively partnering with clients to design and deliver critical infrastructure with lower environmental impact throughout every phase of development and beyond."

McDermott supports the global energy transition and has delivered award-winning work, studies and developments to expand possibilities in net-zero construction, carbon capture, hydrogen storage solutions, net-zero liquified natural gas and offshore wind. The company has the same aspirations for its own operations as reflected in the sustainability program and proactive targets. The result is an integrated sustainability strategy with a governance framework applied globally across all aspects of the business.

"Our sustainability report identifies the progress we have already made," Clingman said. "And it confirms our commitment to reducing GHG emissions, managing water use, reducing waste-to-landfill and improving socially responsible investments that support the communities where we operate."

Learn more about McDermott's Sustainability Targets.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
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 targets and the associated timing to achieve those targets. Although we believe that the expectations reflected 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 qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications 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 reflects 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.

Contacts:

Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636
[email protected]

SOURCE McDermott International, Ltd