1.3.2Mission and Strategy
SBM Offshore underpins its mission and strategy framework by an understanding of mega trends and associated scenario-planning.
SBM Offshore’s mission is to enable the energy transition by leveraging SBM Offshore’s unique capabilities in floating solutions, thus contributing to the growth and creation of sustainable, 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 alternative 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 alternative energy market.
In line with its vision and mission, SBM Offshore’s strategy aims to enable the energy transition, addressing material impacts:
- 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 – aligned with long-term (>6 years), medium-term (2-6 years) and short-term (1 year) planning cycles. It is funded and resourced, as explained in this report, and is approved by the Management Board and the Supervisory Board.
