6.1Glossary
Term
Definition
A&RC
Appointment and Remuneration Committee
AGM
Annual General Meeting
API
American Petroleum Institute
boe
Barrel of Oil Equivalent
bopd
Barrels of Oil Per Day
BP
Basis for Preparation
BPS
Brownfield Project Services
CALM
Catenary Anchor Leg Mooring
CAPEX
Capital Expenditure
CBSC
Corporate Business Solutions Center
CDP
Carbon Disclosure Project
CMFL
China Merchants Financial Leasing
CMHI
China Merchants Heavy Industry Co. Ltd.
CSRD
Corporate Sustainability Reporting Directive
DNSH
Do No Significant Harm
EBIT
Earnings before Interest and Tax
EBITDA
Earnings before Interest, Taxes, Depreciation and Amortization
EPC
Engineering Procurement and Construction
EPCI
Engineering Procurement Construction and Installation
ERM
Enterprise Risk Management
ERP
Enterprise, Resource, Planning
ESG
Environmental, Social and Governance
ESRS
European Sustainability Reporting Standards
Euribor
Euro Interbank Offered Rate
FEED
Front-End Engineering and Design
FLNG
Floating Liquefied Natural Gas
FOW
Floating Offshore Wind
FPSO
Floating Production Storage and Offloading
FSO
Floating Storage and Offloading
GEMS
Global Enterprise Management System
GHG
Greenhouse Gases
GJ
Gigajoules
GOV
Governance
GRI
Global Reporting Initiative
GTS
Group Technical Standards
GW
gigawatt
HEMP
Hazards and Effects Management Process
HR
Human Resources
HSS
Health, Safety and Security
HSSE
Health, Safety, Security & Environment
HSSEQ
Health, Safety, Security and Environment, Quality
IASB
International Accounting Standards Board
IBOR
Interbank Offered Rates
ICOFR
Internal Control Over Financial Reporting
IEA
International Energy Agency
IFC
International Finance Corporation
IFRS
International Financial Reporting Standards
IFS
Industrial and Financial Systems
ILO
International Labour Organization
IM/CAPA
Incident Management/Corrective Action Preventive Action
IOGP
International Association of Oil and Gas Producers
IP
Intellectual Property
IPCC
Intergovernmental Panel on Climate Change
IPIECA
International Petroleum Industry Environmental Conservation Association
IRO
Impact, Risk and Opportunity
ISM
International Safety Management
ISO
International Organization for Standardization
ISPS
International Ship and Port Facility Security
IUCN
International Union for Conservation of Nature
JV
Joint Venture
KPI
Key Performance Indicator
LIBOR
London Interbank Offered Rate
LOPC
Loss of Primary Containment
LTI
Long-Term Incentive
LTIFR
Lost Time Injury Frequency Rate
LUCY
Let Us Connect You
MDR-A
Minimum Disclosure Requirement – Actions
MDR-M
Minimum Disclosure Requirement – Metrics
MDR-P
Minimum Disclosure Requirement – Policies
MDR-T
Minimum Disclosure Requirement – Targets
MHI
Mitsubishi Heavy Industries
MNOPF
Merchant Navy Officers Pension Fund
MOPU
Mobile Offshore Production Unit
MPF
Multi-Purpose Floater
MW
megawatt
NES
New Energies & Services
NGOs
Non-Governmental Organizations
NOx
Nitrous Oxides
NZE
Net Zero Emissions
O&M
Operations and Maintenance
OECD
Organization for Economic Co-operation and Development
OIFR
Occupational Illness Frequency Rate
OMEA
Operations and Maintenance Enabling Agreement
OPEX
Operating Expenditure
PFC
Production Field Center
PP&E
Property, Plant & Equipment
PSE
Process Safety Events
PSM
Process Safety Management
PV
Photovoltaic
R&D
Research and Development
RAC
Risk Assurance Committee
RCF
Revolving Credit Facility
RCP
Representative Concentration Pathway
ROAE
Return on average equity
RP
Remuneration Policy
RSU
Restricted Share Unit
SASB
Sustainability Accounting Standards Board
SBM
Strategy and Business Model
SCF
Supply Chain Financing
SDG
United Nations Sustainable Development Goals
SIF
Serious Injuries and Fatalities
SOFR
Secured Overnight Financing Rate
SOx
Sulphur Oxides
SPV
Special Purpose Vehicle
SRS
Single Reporting System
STEM
Science, Technology, Engineering and Mathematics
STI
Short-Term Incentive
SWS
Shangahi Waigaoquiao Shipbuilding
TCFD
Task Force on Climate-Related Financial Disclosures
TLP
Tension-Leg Platform
TMS
Turret Mooring System
TRIFR
Total Recordable Injury Frequency Rate
TRL
Technology Readiness Level
UN
United Nations
WEC
Wave Energy Converter