Sustainability Governance
At Subsea7, we recognise the importance of embedding solid governance around sustainability to ensure our agenda is supported through effective leadership.
“Incorporating sustainability within our business strategy is important to Subsea7.”
John Evans
Chief Executive Officer
The Board
Subsea 7 S.A. Board of Directors is responsible for guiding the Group's strategy in relation to sustainability and climate-related matters, and when defining the objectives, strategies, and risk profiles for the Group's business activities, sustainability risks and opportunities are considered. Sustainability represents a permanent feature on every routine Board agenda, allowing the Board of Directors to monitor and oversee the Group’s progress in relation to its sustainability strategy and targets and aligning with the Board’s objective to operate in a way that benefits the company shareholders while considering financial, social, and environmental factors. These meetings take place a minimum of once per quarter and include the Executive Management Team.
Board Committees
The Board has four standing committees to assist them in effectively fulfilling the diverse range of tasks and responsibilities that come with running a global company, including on sustainability-related matters.
In late 2024, the remit of the Audit Committee has been expanded to include oversight of sustainability and renamed as the Audit and Sustainability Committee. The Audit and Sustainability Committee assists the Board to meet its oversight responsibilities in relation to, among other things, monitoring and reviewing the annual sustainability disclosures (including the sustainability disclosure process) and submitting recommendations or proposals to ensure their integrity before their approval by the Board of Directors and monitoring the effectiveness of internal controls and risk management systems regarding sustainability disclosures.
Sustainability Committee
At management level, our Sustainability Committee, composed of the Executive Management Team, promotes and fosters a culture that supports and drives the implementation of our sustainability ambitions and objectives. This committee enables a clear communication channel to the Board and meets quarterly to review performance against our ambitions. Reporting to our CEO, our Executive Vice President Strategy and Sustainability, has the responsibility to drive our sustainability agenda and further embed the integrated link between strategy and sustainability within the business. The work of the Sustainability Committee is complemented by the work of our Risk Committee and Ethics Committee, which helps to align management’s approach on material topics.
Sustainability Focused Workgroup
Each material topic defined through a double materiality assessment is sponsored by a member of the Executive Management Team and is supported by a focused workgroup of Subsea7’s functional leads and subject matter experts.. The sponsor ensures the alignment of the sustainability strategy with business priorities and the long-term direction of Subsea7. The focused workgroups are responsible for implementing Subsea7's sustainability ambitions and for managing relevant risks and performance across the organisation as well as considering their implication for the business.
Corporate Sustainability Team
A Corporate Sustainability Team, led by a Director of Sustainability, facilitates the Group’s sustainability efforts including tracking stakeholders’ expectations, communicating and reporting on our sustainability performance, and working with our focused workgroups to ensure successful implementation of our sustainability strategy.
Global Functions and Regional Management
To ensure regional focus, our global business functions work with our regional management to support the Group’s efforts by integrating sustainability ambitions and actions into their operations.