Sustainability as a strategy

Head Energy’s Sustainability Commitment

Climate change has emerged as one of the most significantglobal challenges of our time. The accumulation of greenhousegases in the atmosphere, primarily carbon dioxide(CO2), has led to unprecedented shifts in weather patterns,rising temperatures, and a multitude of environmentalconsequences.

Acknowledging the urgency to curb emissions, organizationsworldwide are increasingly adopting carbon accounting asa vital tool to understand and manage their environmentalimpact. 2022 was Head Energy Group’s base year for carbonaccounting and 2023 represents our first opportunity tomeasure development.

Head Energy’s Sustainability Commitment

Head Energy has long recognized its responsibility to reduceits environmental foot-print and contribute to sustainabledevelopment. With a focus on providing compre-hensiveenergy solutions, the company strives to deliver innovationwhile minimizing its impact on the planet. By embracingcarbon accounting, Head Energy aims to gain a deeperunderstanding of its emissions profile, identify areas forimprovement, and implement effective strategies to mitigateits impact on climate change.

Carbon Accounting Methodology

To accurately assess and quantify its carbon footprint, Head Energy employed a robust carbon accounting methodologyaligned with internationally recognized standards. The companycollected data from various sources, including its operations,supply chain, and employee activities. By calculatingemissions associated with business travels, commuting, andthe purchase of steel, Head Energy obtained a comprehensiveoverview of its carbon footprint for the base year of 2023.

Business Travels: Navigating Emissions

Business travels constitute a significant component of HeadEnergy’s carbon footprint. As a global company, travel is anessential aspect of its operations, facilitating collaborations,client interactions, and project management. However, italso represents a source of carbon emissions. This reportprovides an in-depth analysis of the carbon emissionsassociated with Head Energy’s business travels, exploringboth short-haul and long-haul flights, ground transportation,and accommodation.

Commuting: A Sustainable Workforce

Another key driver of Head Energy’s carbon footprint isemployee commuting. With a diverse workforce dispersedacross multiple locations, commuting emissions presentboth challenges and opportunities. By examining commutingpatterns, alternative transportation options, and telecommutingpractices, this report delves into Head Energy’s efforts toreduce its carbon footprint related to employee commuting.

Steel Purchases: Building Responsibly

The purchase of steel materials is an integral part of HeadEnergy’s operations, particularly in EPCIC projects onshoreand offshore. However, the production of steel is knownto contribute to substantial carbon emissions. This reportinvestigates Head Energy’s steel procurement practices,analyzing the lifecycle emissions associated with the steelsupply chain and exploring potential strategies to minimizeits carbon impact.

2023 – More Sustainable Growth

Head Energy Group delivered record revenues and solid growth in 2023. In absolute numbers, this contributed to20,7% higher CO2 emissions compared to 2022. Consideredthat Head Energy has experienced a total growth in numberof employees at over 26%, we have reduced CO2 emissionsper employee in 2023.

Further, due to modification projects being postponed in2023, our emissions connected to purchase of steel hasbeen substantially lower than in 2022.

In total, Head Energy Group has a 42,9% decrease in carbonemissions per employee from 2022 to 2023 (scope 1-2) anda 4,5% reduction in carbon emissions per employee from 2022 to 2023 (scope 1-3).