About the Report

This report has been prepared in accordance with Global Reporting Initiative (“GRI”) standards core option and follows the Oslo Stock Exchange Euronext guidance on ESG reporting of January 2020. We have also used reporting recommendations from the Task Force of Climate-related Financial Disclosure as well as the Norwegian Shipowners’ Association’s Guidance on ESG reporting in the shipping and offshore industries.

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These reporting standards have influenced the structure of our report, which is now divided into three main sections: Environmental, Social, and Governance. This structure reflects our work in a more complete way and enabling synergies with our company strategy.

Statement from the Board & CEO

Good management of Environmental, Social and Governance (ESG) opportunities and risks is essential to business success. It motivates employees, investors, customers, and other stakeholders on whom businesses rely to operate successfully and safely.

This is our fourth corporate responsibility report shaped by the UN Sustainable Development Goals, introduced in 2015. The Board of Directors and the CEO actively ensure that the Company properly responds to ESG challenges.

During 2020, we have renewed our materiality assessment. The Board and the CEO have been actively involved in this process, as well as the assessment of the Company’s impact on ESG development goals. The material indicators on which this report is focused were discussed and selected during several Board and management meetings.

The Board and the CEO regularly discuss ESG opportunities, risks and goals to ensure that they are integrated into the operations, culture, values, incentives and business practices of PGS. This report documents how PGS performed against the commitments we set in 2019 and the way forward for 2021.


Oslo, February 23, 2021
Board of Directors PGS ASA
Walter Qvam Chairperson | Anne Grethe Dalane | Marianne Kah | Richard Herbert | Trond Brandsrud
Anette Valbø | Hege Renshus | Grunde Rønholt | Rune Olav Pedersen Chief Executive Officer