Oceaneering Announces Release of Inaugural Climate Change Report

HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (NYSE:OII) today announced that it has released its first Climate Change Report. The report aligns with the framework developed by the Task Force on Climate-related Financial Disclosures (“TCFD”) and includes analysis and progress updates across each of the four TCFD pillars: Governance, Strategy, Risk Management, and Metrics and Targets.

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, "We are pleased to issue our inaugural Climate Change Report. We recognize the risks posed by climate change and are actively working on our own initiatives and with our customers to mitigate the impacts of our operations on the environment. The TCFD framework gives us a widely accepted methodology that increases transparency in connection with our climate risk reporting and planning to limit the environmental impacts of our businesses and those of our customers. We have increased management engagement through our management-level Sustainability Committee, chaired by Holly Kriendler, our Chief Human Resources Officer, and Board oversight of sustainability issues and the strategies necessary to pivot portions of our business into less carbon intensive areas. We are also advancing an initiative in 2022 to baseline our Scope 1 and Scope 2 greenhouse gas, or GHG, emissions. This data will be used to develop ambition levels and action plans for short- and long-term emission reduction targets. We are committed to following and adapting to best practices to ensure our stakeholders have access to consistent and transparent climate change information."

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries.

For more information on Oceaneering, please visit www.oceaneering.com.