Fair Money & Economic Opportunity

Gulf Marine Services PLC (GMS) is a provider of self-propelled self-elevating support vessels for the offshore oil and gas industry.

The company's core business does not involve offering lending, deposit, or other financial services to consumers. Consequently, all KPIs related to fair money and economic opportunity, which are designed for financial institutions, are not applicable to GMS's operations.

Fair Trade & Ethical Sourcing

GMS identified no suppliers in breach of the UK Modern Slavery Act and received no reports from contractors regarding modern slavery for the year ended 31 December 2020.

The company maintains a Code of Conduct that applies to all suppliers and conducts risk assessments for new and existing suppliers to identify modern slavery risks.

Honest & Fair Business

No specific, concrete evidence was found in the provided articles to assess GMS.LSE against any of the 'Honest & Fair Business' KPIs. While a tax assessment of US$7.3 million for 2017-2019 was disclosed, it is outside the past three years and is currently under appeal, thus not qualifying as an ethics-related regulatory fine within the specified timeframe.

General statements about compliance with anti-bribery and corruption regulations being crucial do not provide sufficient detail to score the strength and enforcement of a policy.

Planet-Friendly Business

GMS aims to reach net-zero Scope 3 emissions by 2035.

The company is compliant with TCFD recommendations and considers different climate-related scenarios, including a 2°C or lower scenario. GMS tracks operational data to assess and manage emissions across all business areas, reporting Scope 1, 2, and 3 Greenhouse Gas (GHG) emissions. In 2022, Scope 1 bunker fuel use increased by 10.1%, while Scope 3 emissions saw a 49% decrease in purchased goods and services and a 77% decrease in business travel, resulting in a 22.5% overall decrease for Scope 3. The company safeguards marine biodiversity by adhering to MARPOL, flag-state, and host-country environmental requirements.

Safe & Smart Tech

No specific, concrete data points were found in the provided articles for any of the 'Safe & Smart Tech' KPIs. The articles mention general cybersecurity defenses

, engagement with third-party security specialists , and a commitment to complying with laws and regulations , but lack details on specific metrics such as data breach incidents, cybersecurity investment percentages, privacy certifications, or the scope and effectiveness of security and privacy training and testing. There is also no information regarding AI ethics, algorithmic transparency, or user data control.

Zero Waste & Sustainable Products

GMS has implemented five waste reduction initiatives, which include enhancing segregation, handling, storage, and disposal of all waste streams

, enforcing strict waste segregation and disposal across vessels , reducing material use through recycling and efficient planning , monitoring waste streams to minimize offshore environmental impact , and promoting crew participation in sustainable waste management practices . The company conducts its waste management in line with MARPOL and local regulatory requirements and holds ISO 14001 certification .