Sustainability
Recognising our part in making the world a more sustainable place, Vantage is dedicated to integrating sustainability into our business plan.
Vantage values and promotes sustainability across our environmental, social and governance framework. We have reporting mechanisms in place to track our progress and enhance our sustainability strategy.
OUR APPROACH
A Company priority
Vantage gives sustainability equal priority and attention as our other business goals. As part of our continuous improvement approach, we review and update policies and procedures on a regular basis to make sure they remain current with best practices and technology. At a minimum we adhere to all regulatory requirements where we operate.
ENVIRONMENTAL IMPACT
Reducing our environmental footprint
Vantage is dedicated to reducing the negative effects of our operations on the environment. This entails concentrating on cutting emissions through the application of our offsetting activities, energy efficiency measures, avoiding spills at sea and the use of more environmentally friendly chemicals and products.
GOVERNANCE
Ethical business practices and regulatory compliance
Ethical business practices are integral to our operations. We have implemented a comprehensive compliance and ethics program-based on three key principles – regular training, due diligence and auditing.
Climate Change and GHG Emissions
Vantage is aiming to reduce GHG emissions from its operations through investment in energy efficiency and innovative solutions. Scope 1 emissions are primarily from MGO fuel used in well construction activities. Vantage is establishing intensity metrics and calculating Scope 2 emissions. Some of the alternative solutions include LED lighting and smart energy monitoring systems which are applied to reduce emissions.
Waste Management
Vantage has implemented a comprehensive waste management plan. This plan includes initiatives like garbage compactors, fluorescent bulb crushers and minimising plastic packaging. Our waste targets focus on:
1. Reducing total waste generated
2. Increasing waste recycling
3. Reducing single use plastics
Water and Effluents
Vantage rigs produce potable water through saltwater desalination using reverse osmosis to minimise regional freshwater usage. Our marine environment protection strategy prioritises water discharge control using approved ballast water treatment systems in line with the International Convention for the Control and Management of Ships’ Ballast Water and Sediments (BWM Convention). We have strict policies against taking or discharging seawater from water-stressed or environmentally sensitive areas. Vantage prioritises protecting the marine environment, complying with local and international legislation and corporate responsibility.
Biodiversity conservation and prevention of marine pollution
We control the impact of our offshore operations on marine ecosystems, including noise, water pollution and invasive species spread. We train our people in best practices, maintain rig infrastructures and have strict control standards.
Diversity
Vantage values diversity (nationality, culture, ethnicity, gender, age, etc.) and encourages a diverse workforce. This fosters an organization with shared values, that is inclusive and welcomes differences and ideas. Our workforce comes from Europe, UK, US, the Americas, Australasia, Asia, Africa and the Middle East. We have a strong track record on diversity of employment and continually generate local employment and expenditure in the countries where we operate.
Safety Management
Vantage prioritises personal safety, establishing internal controls and risk management procedures in an industry exposed to hazards. We adhere as a minimum to all regulations and our own HSE Policy to ensure safe daily operations. We established the Vantage Perfect Day Leadership program that is focused on a mature safety culture and a world-class HSE management system. The Company regularly reviews its performance and implements a structured process to drive continuous improvement. As a part of this continuous improvement process any non-conformity in the system is identified and corrected accordingly.
A Perfect Day at Vantage involves:
1. No Incidents
2. No Non-Productive Time
3. A Fully Satisfied Client
Zero incidents
Vantage aims for zero incidents. This includes defined QHSE goals for both the company and rigs, quarterly reviews, continuous improvement of the safety culture, implementation of world-class management systems, hazard identification and control, and continuous HSE performance monitoring.
Health and Wellbeing
The Company prioritises employee health and wellbeing by ensuring adequate protection against the elements and workplace hazards. Employees are required to undergo regular medical examinations that comply with international best practice. Operations are supported by local medical facilities and emergency assistance providers and offshore installations have a dedicated clinic. We regularly promote health campaigns onshore and offshore.
Human Rights
The Company upholds fundamental human rights in our daily operations and corporate strategy. Our core principles focusing on human rights are:
1. We support and respect the protection of internationally proclaimed human rights
2. We are not complicit in the abuse of human rights
3. We do not tolerate any form of forced or compulsory labour
4. We do not employ child labour and support its effective abolition
5. We support the elimination of employment discrimination
6. We work against corruption in all its forms, including extortion and bribery
7. We ensure our contractors, at a minimum, comply with Vantage’s strict standards
Governance
Our commitment to sustainability and responsible offshore drilling practices is centered on effective governance which includes ethical decision-making, stakeholder engagement and strategic planning, aiming to minimise environmental impact, ensure workforce safety, and foster positive community relationships.
Ethical business practices and regulatory compliance are integral to our operations.
We have implemented a comprehensive compliance and ethics program-based on three key principles.
1. Regular Training: All our employees receive annual training on anti-bribery and anti-corruption policies and procedures. We also conduct specialised training sessions in countries where we operate or have operated.
2. Due Diligence: Vantage uses third party-owned software for vendor vetting, categorising them as high, medium, or low risk based on their profile and the country in which they operate; we also conduct additional due diligence for medium to high-risk vendors.
3. Contract protection and auditing: We require our contracts to include anti-corruption principles, requiring counterparties to adhere to these principles and applicable laws, with Vantage having audit and termination rights.
Internal audits, third-party audits, and employee interviews ensure compliance with ethics standards. Employees, officers, and board members are required to uphold Vantage’s commitment to ethical business practices.
Anti-corruption
Vantage follows a strict code of business conduct, including an anti-corruption policy, adhering to regulations such as the U.S. Foreign Corrupt Practices Act and the UK Bribery Act, through communication, training, and regular audits.
Our whistleblower line is communicated throughout our operations, and is managed independently to maintain confidentiality and impartiality, promoting open communication and a transparent work environment.
SOCIAL IMPACT
Considering what really matters
People are at the core of our Company. Our responsibilities are to provide a positive and engaging safe working environment with a zero-injury approach to occupational health and safety. We also ensure that human rights are upheld in our daily operations.