Our commitment to ESG principles is reflected in our core values and in various ongoing initiatives, including the following:
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maintaining the highest standards of business conduct and ethics by conducting our affairs in an honest and ethical manner with unyielding personal and corporate integrity at the foundation of our business;
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adhering to our core values and striving to continually improve our ESG systems and processes to enhance our performance;
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demonstrating integrity and respect for others by setting goals and objectives that enhance our commitment to a safe workplace;
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protecting the environment by focusing on operational efficiencies that promote the reduction of emissions through fuel and environmental monitoring;
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ensuring that the safety of our employees, as reported in industry-leading metrics, is our highest priority;
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actively embracing, valuing and encouraging the diversity of our directors, officers and employees and ensuring this culture remains an integral part of our employment and retention policies;
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communicating our expectation that Tidwater, including our suppliers, contractors, and employees, achieves and promotes strong ESG performance;
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ensuring a positive community impact in the areas in which we operate;
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focusing on developing and implementing sustainable practices that promote human rights, health and well-being, fair dealing and compliance throughout our business;
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responsibly recycling vessels in a sustainable and socially-responsible manner, safeguarding the environment and human health and safety in accordance with applicable laws and regulations, including the 2009 “Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships,” the “Basel Convention on the Control of the Transboundary Movements of Hazardous Wastes and their Disposal” and, where applicable, EU and U.S. EPA Ship Recycling Regulation;
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regularly reporting our ESG results, while continuing to evaluate ways to improve; and
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developing frameworks and metrics to present our ESG results in an effective and transparent manner.
In recognition of the importance of ESG principles to our business, the initiatives set forth above are being undertaken with the unanimous support of our Board.
In 2022, significant progress was made in many of these areas, including, but not limited to, the following:
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Tidewater improved the gender diversity of its Board;
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Tidewater recorded no material incidents nor any incidents related to significant or harmful accidental spills;
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our cybersecurity initiatives were expanded to ensure compliance with IMO Resolution MSC.428(98)—Maritime Cyber Risk Management in Safety Management Systems; and
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as a signatory to the UN Global Compact, we continued to progress our commitment to align our operations and strategies in the areas of human rights, labor, environment, and anti-corruption, and to take action in support of the UN goals and issues embodied in the Sustainable Development Goals (SDGs).
In March 2023, we published our 2022 Sustainability Report, in alignment with the SASB Marine Transportation Standard (2018), TCFD climate-related disclosure recommendations and GRI’s reporting standards. A review of Tidewater’s progress in 2022, including a summary of the materiality analysis