Transocean

Sustainability strategy and accountability
The company discloses its process for identifying and prioritising its most relevant sustainability impacts in relation to its sustainability strategy.

GHG emissions
The company reduces its scope 1 and 2 greenhouse gas emissions.

Solid and air pollution
The company reports regularly on air quality parameters of emissions of harmful air pollutants.

Water
The company discloses its processes for managing and monitoring discharge water quality.

No leading practices were identified in the social inclusion and community impact area.

Act ethically
The company maintains a publicly available policy statement explicitly prohibiting bribery and corruption, applicable to all board members, executives, employees, and business partners, including suppliers. Violations of this code can result in disciplinary actions such as compensation reductions or termination. The policy also specifies a ban on political contributions by the company and on its behalf by employees. Additionally, the company provides a website for reporting grievances, offering options for anonymity to ensure complainants can report without fear of reprisal.

Provide and promote decent work
The company publicly commits to the health and safety of workers, disclosing policies to respect and continually improve health and safety in a sustainable framework. It expects the same commitment from its business relationships, requiring all associated parties to maintain a safe and healthy working environment and adhere to health and safety policies. The company also actively monitors its suppliers, performing continuous restricted party screening and conducting both formal and informal site visits. Furthermore, it embeds personnel on-site where practicable, enhancing the ability to identify potential health and safety violations directly.

Respect human rights
The company conducts Human Rights Impact Assessments (HRIAs) to identify risks of adverse impacts on human rights. It carries out risk-based due diligence including qualification and background screenings of suppliers with detailed questionnaires and policy analysis. Suppliers are contractually required to comply with human rights audits conducted by the company or appointed third parties. Continuous restricted party screenings and both formal and informal site visits are performed to ensure compliance. These measures are integrated with ongoing assessments tailored to factors like geographic and industry risks, regulatory frameworks, and political environments. The company also maintains robust policies against child labour, forced labour, and discrimination, reinforcing its commitment to fundamental human rights as declared by the ILO.

Lobbying
The company does not report on its lobbying and advocacy practices on nature-related issues, nor whether these activities align with its sustainability strategy.

Stakeholder engagement
While the company discloses an overview of its stakeholder engagement plan, it has an opportunity to disclose more comprehensive details including an overview of the issues raised or its process for engaging with stakeholder groups, including frequency and channels.

Sustainability strategy and accountability
While the company has set some targets, it does not disclose group-wide, time-bound targets on all key sustainability topics for the most material parts of its value chain, nor does it report against all of its targets. No evidence was found that the company links performance criteria in senior executives’ remuneration policies to targets and objectives which cover nature, including biodiversity, and social issues. The company does not disclose whether its highest governance body has expertise regarding nature-related topics.

Ecosystem conversion and restoration
No evidence was found regarding the company’s efforts to avoid ecosystem conversion, including deforestation, or promote restoration. The company has an opportunity to develop a strategy and publicly report on specific, time-bound targets.

GHG emissions
While the company has a target to reduce scope 1 and 2 greenhouse gas emissions, it is based on intensity, rather than absolute reduction. The company has an opportunity to reduce its scope 3 greenhouse gas emissions and set a time-bound target to reduce it. The company has an opportunity to report progress against the emission targets it has set, and align them with a 1.5-degree trajectory.

Impact and dependencies assessment
The company has not holistically assessed its impacts or how it depends on nature, including biodiversity. It has an opportunity to start such an assessment across its value chains, focused on quantification of its impacts or dependencies.

Invasive species
The company has not identified any activities that could lead to the introduction of invasive alien species in its own operations.

Key areas and species
The company does not disclose key species or areas important for biodiversity affected by its operations or suppliers. It has an opportunity to increase its transparency.

Resource exploitation and circularity performance
No evidence was found regarding the company’s efforts to work towards a circular economy or which organisms it exploits. The company has an opportunity to develop a strategy and publicly report on specific, time-bound targets.

Solid and air pollution
The company is not reducing the production of hazardous substances and does not commit to avoiding the development or marketing of new chemicals or products with SVHC (substance of very high concern) properties. Additionally, it is not reducing the production of hazardous waste. The company has an opportunity to disclose quantitative evidence regarding plastic use reduction and the use of sustainable packaging. It does not report on the amount of plastic waste generated or the proportions directed to or diverted from disposal. Furthermore, the company does not report time-bound targets to reduce air pollutants across the most material parts of its value chain.

Water
The company does not disclose relevant information for water withdrawals. It does not report a qualitative decrease in water pollution. The company does not regularly report on water pollution metrics, nor targets to reduce water pollution. The company has an opportunity to publicly commit to the right to water and to provide its processes for implementing preventive and corrective action plans for identified specific risks to the right to water and sanitation in its own operations.

Indigenous Peoples’ and land rights
The company does not show if it is committed to respecting Indigenous Peoples’ rights or land rights of local communities.

Safe, clean, healthy and sustainable environment
The company has an opportunity to commit to respecting local communities’ right to a safe, clean, healthy and sustainable environment, and to zero tolerance for acts of violence, threats, intimidation or judicial harassment committed against land and environmental rights defenders. Moreover, it should track its actual or potential negative impacts on the health of local communities.

Act ethically
The company outlines a risk-based approach to ethics and compliance but lacks a detailed process for identifying specific bribery and corruption risks across its operations. There is also no publicly available policy statement on its lobbying and political engagement strategy, nor disclosure of lobbying expenditures. The company has an opportunity to formalise its approach to identifying bribery risks and to articulate and publish its policies on lobbying and political engagement.

Provide and promote decent work
Although the company provides some health and safety data, it lacks disclosure on the types of injuries. It claims to offer competitive compensation but has not confirmed these meet living wage standards, nor does it show support for living wages in its business relationships. The company’s commitment to gender equality is reflected in its support for women offshore but lacks specific empowerment targets. The company has an opportunity to enhance its reporting on health and safety, define living wage commitments, and establish clear goals for gender equality and empowerment.

Respect human rights
The company has policies expecting business relationships to respect non-discrimination but lacks clear commitments to collective bargaining and freedom of association as fundamental human rights. It performs ongoing human rights impact assessments considering various risk indicators but does not sufficiently describe these processes or publicly disclose assessment results. The company has an opportunity to define its process for identifying human rights risks more explicitly and to publicly share outcomes to enhance transparency.