1.3.2Mission and Strategy
SBM Offshore has developed its mission and strategy framework by developing a strong understanding of mega trends, with associated scenario-planning and detailed strategies. Combined with feedback from stakeholders, as defined in 1.2.2, SBM Offshore’s aims that its strategy addresses stakeholders' needs.
SBM Offshore’s mission between now and 2030 is to grow and create long-term value for its stakeholders. SBM Offshore is committed to a responsible energy transition, reducing emissions of oil and gas while developing cleaner solutions from new energies.
In order to do so, it has set targets and indicators in three main areas: grow free cashflow over the period, ensure a steady flow of new contracts within SBM Offshore’s core business and position SBM Offshore in the new energy market.
In line with its vision and mission, SBM Offshore’s strategy is founded on the three components of Environmental, Social and Governance
- Environmental – focusing on energy transition towards net-zero
- Social – creating a safe and inclusive environment where people inspire and empower each other
- Governance – carrying out values-based actions to achieve high ethical standards
SBM Offshore manages its performance through a balanced scorecard framework.