Environmental, Social & Governance (ESG)

Investing responsibly. Protecting value. Inspiring trust.

Responsible investment is a core principle of Blue Water Energy as we work to build world-class energy companies.

Ours is a sustainable strategy: we routinely work with companies within our portfolio to promote the principles of ESG, understand their individual priorities and support their activities in the long term.

We take an integrated approach, promoting a culture of communication, engagement and transparency across all stakeholders, and encourage the sharing of best practice. This is further underpinned by a formal BWE roadmap which sets out how our interlinked practices and processes – inherent to our portfolio – direct us towards a first-class ESG environment.

It is also knowledge-based: with our specialist experience, international reach and diverse industry partnerships, we understand the ESG imperatives of the international energy sector.

It is not an ancillary consideration: ESG informs our thinking as we analyse potential investment opportunities, as we make decisions on those opportunities and as we first engage with portfolio companies.

We devote time, deliberation and resources to ESG because we appreciate how it can directly influence long-term company value.

But we also do it because it is the right thing to do in the modern-day commercial world: businesses can make a tangible contribution in safeguarding our environment, supporting local communities and promoting the principles of good governance. We believe the dividend of good ESG practice extends beyond material interests.

We are committed to a fair and sustainable future

Responsible Investment

Responsible investment is a core principle of BWE, and one that we nurture and advance with all businesses in our portfolio.

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Responsible Investment

Responsible investment is a core principle of BWE, and one that we nurture and advance with all businesses in our portfolio.

It is central to our thinking, from the time we first explore and assess prospective investment opportunities through to our everyday engagement with portfolio company senior management.

This philosophy reflects our firm belief not only in the positive impact of good ESG practice on company value, but also in the significant contribution businesses can make in addressing wider social, community and environmental issues.

Carbon Neutrality

Our support for the principle of carbon neutrality reflects our status as a responsible business and helps us meet our wider goal of protecting the communities where we, and our portfolio companies, operate.

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Carbon Neutrality

Our support for the principle of carbon neutrality reflects our status as a responsible business and helps us meet our wider goal of protecting the communities where we, and our portfolio companies, operate.

We encourage portfolio companies to identify and pursue opportunities to decrease their energy consumption wherever and whenever practicable. Similarly, we promote the sourcing and use of sustainable energy solutions where feasible, in pursuit of the ambition of a net zero carbon footprint.

Diversity & Inclusion

At BWE, and across our portfolio companies, we advocate the principles of an inclusive work environment and a diverse workforce.

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Diversity & Inclusion

At BWE, and across our portfolio companies, we advocate the principles of an inclusive work environment and a diverse workforce.

We actively encourage the hiring of the best talent in the market, regardless of race, gender, age, sexual orientation or religion.

We believe the formation of diverse teams is not only the right thing to do; it also adds value – and strength – by bringing together individuals with different perspectives, ideas and creative talents.

Modern Slavery Act

BWE adheres to its legislative obligations as they relate to modern slavery and human trafficking, and engage with our portfolio businesses to confirm they both recognise and meet their statutory responsibilities.

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Modern Slavery Act

BWE adheres to its legislative obligations as they relate to modern slavery and human trafficking, and engage with our portfolio businesses to confirm they both recognise and meet their statutory responsibilities.

More than that, we seek to ensure such practices are not present in supply chains associated with portfolio companies.

We provide guidance when sought or required, and support companies in the implementation of any such guidance.

Anti-Bribery / Corruption policy

In maintaining the highest standards of integrity and honesty, we promote awareness of anti-bribery and corruption risks within BWE and among our portfolio businesses.

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Anti-Bribery / Corruption policy

In maintaining the highest standards of integrity and honesty, we promote awareness of anti-bribery and corruption risks within BWE and among our portfolio businesses.

We ensure that they operate in compliance with national and local laws and regulations, and that they address any legislative changes that impact upon their operations.

We also verify that businesses with which BWE and portfolio companies engage uphold policies and practices that are consistent with our own.

Cyber Security & Data Protection

The development and implementation of robust data and cyber security strategies are key in averting potential risks to the everyday operations of BWE and our portfolio companies. They also play a central role in reputation management.

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Cyber Security & Data Protection

The development and implementation of robust data and cyber security strategies are key in averting potential risks to the everyday operations of BWE and our portfolio companies. They also play a central role in reputation management.

We work to ensure such strategies, as well as the resources and expertise required to apply them, are a priority for the businesses in which we invest.

With the General Data Protection Regulation (GDPR) in effect from May 2018, we also take steps to ensure the relevant people within our business, as well as within our portfolio businesses, both understand their obligations under GDPR and fully comply with them.

View our ESG Policy

Environmental, Social and Governance (ESG) Policy

Vision Statement

Blue Water Energy (BWE) believes that responsible investment is core to our firm’s ambition: to build world-class energy companies. We recognise that ESG can influence long-term company value and that it is in the best interest of our investors to incorporate ESG into our investment analysis, decision-making and portfolio company engagement processes.

Policy Scope

This Responsible Investment policy applies to all of BWE’s investments.

In cases where BWE determines that it has limited ability to conduct diligence or to influence and control the integration of ESG considerations in the investment (for example in cases where BWE is a minority shareholder) reasonable efforts will be made to encourage these portfolio companies to consider relevant ESG-related policies.

Management of ESG

BWE’s ‘buy and build’ strategy includes consideration of material ESG aspects for all potential investments. For the purposes of this policy, ‘material ESG’ topics are defined as those which BWE considers have the potential to, or will, create, preserve or erode portfolio company value. BWE’s understanding of energy sector ESG priorities is founded on BWE’s deep energy sector and geographical expertise and our investment partnerships with seasoned management teams and external ESG advisors.

We seek to engage with our portfolio companies to understand their ESG priorities, provide support as appropriate to drive improvement initiatives on material ESG topics, and to share best practice within the BWE portfolio.

Organisational Arrangements

The investment team is responsible for considering ESG in investment decisions and for ongoing portfolio company engagement regarding ESG matters through Board-level representation. Additional external ESG support is sought by BWE and our portfolio companies as required.

BWE’s Chief Financial Officer serves as the firm’s ESG Officer, reporting in to BWE’s Partners on ESG matters.

Commitments

We are an active and responsible owner and promote uptake of this Responsible Investment Policy and the adoption of appropriate and company-specific ESG policies by our portfolio companies.

BWE and our portfolio companies operate in compliance with national and local anti-bribery and corruption, environment, health, safety and social laws and regulations.

Monitoring and Reporting

BWE encourages portfolio company management to identify and raise material ESG matters and performance to relevant decision makers, in addition to maintaining regular communication with BWE Board representatives regarding such ESG topics and improvement initiatives.

BWE is transparent in its approach to incorporating ESG through the investment cycle and shares updates on progress and outcomes with our investors at least annually through both formal and informal mechanisms.

We encourage our portfolio companies to develop their own reporting to stakeholders on relevant ESG matters as appropriate.

Concluding remarks

This Policy will be reviewed and updated as appropriate and is signed by BWE’s Founding Partners.

Our portfolio of investment companies consider ESG a part of their daily responsibilities.

We have a strong global portfolio and its benefits are significant. Watch the video to see the true power of our portfolio.

  • Education Funding

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    Education Funding

    For over 5 years, Unique Group has been supporting 50 schools through the EKAL Vidyalaya foundation, a registered non-profit service organisation dedicated to education and village development in rural India. It runs a non-formal education program that is run on the children’s terms - helping in eradicating illiteracy from rural and tribal India.

    Unique Group believes that every child has a right to education not just in the form of a functional literacy, but also a child’s overall development and empowerment. The initiative to sponsor 50 schools per year is led by Harry Gandhi, CEO of UG, who along with a team of like-minded individuals and the staff of UG formed a group “Unique Friends Group” with one objective in mind: “If the child cannot go to school, the school must go to the child” as stated by Swami Vivekanandji.

  • Reduction of CO2 Emissions

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    Reduction of CO2 Emissions

    Through small-scale Distributed LNG Production, Galileo reduces the size of the gas volume by 600 times, facilitating its transportation through the Virtual Pipeline. Hence, a direct connection between gas sources and the people who benefit the most from a clean and cheap fuel – LNG, is established.

    Through this pioneering technology, Galileo is actively working to reduce CO2 emissions through its Cryotrucks, which produce far greener, more efficient energy.

  • short version

    Environmental Risk Awareness Training

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    • The application of technology:

      Connecting up the Kentech world



    • The connectivity challenge

       

      •  International network of offices & scale of diversity:

      • 3,350 employees
      • 43 nationalities
      • Operating in 16 countries worldwide
      • 96% of workforce involved in field operations.

      The challenge:

      • Keeping everyone connected
      • Sharing information, experience and good practice
      • Workforce engagement in HSE considerations
      • People working away from home for long periods
      • Improving HSE culture
    • The Kentech solution: Employee Engagement APP - Workvivo - Desktop & Mobile

      • Communication game-changer

        • Desktop & Mobile

        • Ability to communicate across language, culture and geography – connecting the Kentech family.

      • Employees connect in real time

        • All employees submit a personal commitment.

        • All entries visible to all, regardless of role or location.

      • Groups & Discussions

        • Discussion on activities associated with ‘Zero In’ initiative, which has been set up to form a collective focus on individual HSE issues on a rolling basis.

    • Hse & Communication Outputs

       

      •  New dimension in Safety culture through technology

        Sharing of HSE lessons learned and the application of best practice through dedicated areas for to discuss incidents and near misses

        Although still in it’s infancy (launched in Dec 2018), one of the main objectives of the App going forward is to

      • Foster a global culture of communications
      • Care for Kentech people and their wellbeing.

    Environmental Risk Awareness Training

    The application of technology: connecting up the Kentech world

    Many businesses with an international network of offices and bases face stern challenges when it comes to creating, and maintaining, a truly joined-up organisation.

    Our leadership team appreciates how important it is to keep everyone connected: not only to share information, experience and good practice, but to promote a spirit of unity and common purpose across the business.

    At Kentech we embrace a ‘family’ philosophy in our workforce engagement – not least as it applies to health, safety and environment – so such links become all the more important.

    The Connectivity Challenge

    That is why we decided to take on the connectivity challenge and deal with it in a practical but progressive way, with the introduction of an innovative internal communications tool.

    We partnered with Workvivo and launched an employee engagement App that breaks down communications barriers for our geographically and culturally diverse workforce.

    The scale of the diversity is evident in our business profile: we have a total of 3,350 employees, representing no fewer than 43 nationalities and operating in 16 countries worldwide. 96% of our workforce are involved in field operations.
    Our employees – wherever they are based, whatever their role or level of seniority – can now connect

    in real time to ensure we derive maximum benefit from lessons learned and the application of best practice, as we deliver best-in-class work for clients around the world.

    It positions us to take our service delivery on behalf of clients to even higher levels of performance as we create – and draw from – this growing pool of enhanced knowledge and experience.

    Accessed via desktop or mobile and with a built-in translation function, the platform allows for two-way communication in a safe and secure space. View the App in action.


    The HSE and Communication Outputs

    Its value lies in harnessing the power of technology not only to enable everyone across our business to reach out, but also to foster the values that shape our business. In particular, it has added a new dimension to our safety culture.

    For us, safety is about more than recorded statistics – it is about promoting a set of shared principles; about looking out for each other and making sure everyone goes home safely at the end of the working day.

    Each and every entry in the App is visible to everyone in Kentech, regardless of role or location, increasing Health & Safety awareness and sharing of information.


    We Are Family Campaign

    To that end, we launched our We Are Family campaign in 2018. It was welcomed across our business as a way to promote a sense of togetherness and mutual respect, which in turn serves to protect everyone working for Kentech.

    As part of the campaign, we asked people across the company to write a personal safety commitment in 2018. Now, in 2019, with the help of the Workvivo platform, we have been able to reach even more of our employees. Everyone was asked to prepare their own safety commitment and share it with the rest of the organisation when we held our first Global Commitment Day in February.

    It exemplified how this technological advance is helping to ensure the Kentech family delivers safely on behalf of clients as we look to sustain and enhance our service offering.


    Making Space for Sharing

    One section of the App, called Spaces, enables us to set up groups around specific topics.

    These can be open to the whole organisation or defined groups of people and, reflecting our unremitting focus on safety, one of the first groups to be established allows for the sharing of lessons from any HSE incidents.

    Its membership includes all our HSE teams internationally, but it is an open forum: anyone in Kentech can see notifications and join the group. It means, in effect, we have a dedicated area for people to share learnings from incidents and near misses. It also allows employees to discuss activities associated with our ‘Zero In’ initiative, which has been set up to form a collective focus on individual HSE issues on a rolling basis.

    Other Spaces – including, for example, a private group in which our global HR teams draw on the knowledge and experience of counterparts across the organisation – are also now enhancing collaboration across the Kentech world.

    ‘The Workvivo App is a complete game-changer in terms of how our company is wired to communicate. We like to think we’re different and this App is another success story, differentiating us from our competitors.’

    John Gilley, Chief Operating Officer

     

    ‘For the first time, we have the ability to communicate across language, across culture and across geography – we’ve connected our Kentech family.’

    Sarah Kent, Chief Executive Officer

     

    *Kentech provides engineering contracting services globally, working in some of the world’s harshest and most remote locations. As a privately-owned services provider, we offer multi-discipline engineering, procurement, construction, commissioning and maintenance services across a range of energy and industrial facilities in key growth regions.

  • short version

    Responsible Offshore Drilling

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    • Wellesley Petroleum's HSE principles in action:

      Proving a fast-track approach to environmental protection.

    • The drilling operations challenge

      Drilling Exploration wells is a complex task that carries inherent risks

      •  Macondo 2010 brought those risks sharply into focus.

      •  Key learnings from Macondo:

      • Failure in HSE culture lay at the core of the incident.
      • Always plan for a problem well.

      •  Current industry plans for accident / problem well: 50-100 days

      •  Focus on risk prevention:

      • Securing the safety of personnel on the rig.
      • Minimising the environmental impact. 
    • Wellesley's initiative to shake up the way in which the industry responds to an accident

      • The Challenge

        Going further to safeguard environment

        Wellesley set about reducing the time it takes to isolate the well.

      • Why

        To mitigate potential human and environmental risk -

        With speed, effectiveness and safety as the defining principles.

      • How

        A "capping stack" (50-100 tons) was placed over a blown-out well to stop or redirect the flow of hydrocarbons

    • The Outcome

      Wellesley's trials capped the well safely in just 72 hours.

      Watch a brief video of the trails here

      •  The programme:

      • Two full scale mobilisation exercises offshore Norway
      • Oil wells
      • Gas wells

      Demonstrated mobilisation outcomes in 72 hours:

      • Technology
      • Equipment 
      • Trained personnel

      A first in Norway, Wellesley are leading the way in Health, Safety and Environmental risk reduction in drilling operations.

    Responsible Offshore Drilling

    HSE principles in action: proving a fast-track approach to environmental protection


    At Wellesley Petroleum, prevention is our primary focus when it comes to meeting our health, safety and environmental (HSE) objectives. However, we also understand that the drilling of exploration wells is a complex task that carries inherent risks. The Macondo incident of 2010 brought those risks sharply into focus. One of the key learnings from Macondo – often not discussed – was that a failure in HSE culture lay at the core of the incident. We must always plan for a problem well.

    We believe a robust HSE culture provides the foundation for stopping minor incidents escalating into major accidents.

    Our HSE culture is built on three core values:

    • Humility: our suppliers have experience that we actively use
    • Ownership: we expect all to own the operation – ‘it’s my well’
    • Teamwork: a team performs better than the best individual.

    We recognise that unwanted or unplanned events can occur during drilling operations; to imagine all incidents and accidents are avoidable is naïve. We prepare and train accordingly, with one prime goal in mind: preventing escalation. It was with this priority in mind that we chose to explore ways to mitigate a potential environmental risk – with speed and effectiveness as the defining principles.

    WELL CONTROL: DEALING WITH A KEY RISK

    Well control is one of the key risks we manage during drilling operations.

    To cite one plausible scenario: on a problem well, it is decided to disconnect the drilling rig from the well head and move off-location. Subsea blowout preventers (BOPs) enable such a disconnection to occur safely, after the BOP has been closed. The BOP, however, may not seal the well; from an environmental perspective, the worst-case scenario is that the BOP is leaking, and the well flows directly into the sea. This may not be very likely but, as Macondo and other well blowouts have demonstrated, it can happen.

    In such circumstances, our focus would be on minimising the environmental impact of any spill after first securing the safety of personnel on the rig. If an incident occurs with a problem well, current industry plans typically take 50-100 days and a lot of oil can be spilt over such a period.


    THE CHALLENGE: GOING FURTHER TO SAFEGUARD THE ENVIRONMENT

    Seeing real merit in pursuing a much faster response rate, Wellesley set about reducing the time it takes to isolate the well using a capping stack. A “capping stack” is placed over a blown-out well to stop or redirect the flow of hydrocarbons, giving engineers time to permanently seal the well. Weighing as much as 50 to 100 tons, it can present logistical challenges in emergency situations.

    That is why we decided to set our Well Incident Team the challenge of formulating a plan to cap a well within a set timescale: 72 hours. This programme culminated in a full-scale mobilisation exercise being conducted offshore Norway to demonstrate the required equipment and trained personnel could be mobilised and deployed within the target time period.


    THE TRIAL: DEMONSTRATING THE FEASIBILITY OF CAPPING A WELL IN 72 HOURS

    The trial involved simulating a blow-out incident offshore, with the rig disconnecting from the well above the BOP and our Well Incident Team being called upon to perform the capping work.

    High quality plans and well-specific procedures are prepared for each well that Wellesley drills, and these plans were tested during the trial. For the simulated scenario, the Well Incident and Capping Teams were mobilised with two subsea vessels. The capping stack was loaded onto one of the vessels and sailed out into the fjord; the capping stack was deployed and function tested in accordance with the prepared procedures.

    All physical activities were performed on time and, allowing for sailing durations and mobilisation times, it enabled us to lay claim – with confidence – to a 72-hour capping capability.

     

    GAS WELLS: TRIALLING A SPECIALIST APPROACH TO MEET SPECIFIC CHALLENGES

    There are particular challenges associated with the location of the deployment vessel when a capping stack is being applied over a blowing gas well.

    A further trial was therefore completed to test an alternative deployment concept and the associated equipment. Instead of being lowered from a single vessel, the stack was floated into place using a ballast arrangement, with the stack slung between two boats. This allowed the boats to be 1km apart, and away from any gas plume emanating from a blowing gas well.

    The trial proved the system design and demonstrated our ability to cap a problematic gas well within 72 hours.

    Operationally, it creates fresh confidence in Wellesley’s ability to respond to an incident on any gas well we might drill.

     

    WELLESLEY: ACHIEVING AN OFFSHORE ‘FIRST’ IN NORWAY

    Oil spill contingency plans in Norway typically assume:

    • A blowout has occurred with drill pipe out of the hole (largest flow potential)
    • A capping stack must be available and used if possible
    • A relief well should be ready within as short a time as possible. There are requirements to:
    • Have mature relief well plans (two locations)

    • Identify what rigs can be used

    • Have access to relevant equipment.

     

    Oil spill recovery plans in Norway are based on certain assumptions, and are dimensioned around the volume of oil that could be spilt while a relief well is drilled. For a typical exploration well, the spill duration is estimated to be between 50 and 100 days. We have shown, through our trials programme, that we can cap an oil or gas well within 72 hours.

    Wellesley’s 72-hour capping plan is a ‘first’ in Norway and demonstrates exceptional environmental readiness in the event of such a serious incident.

    Watch a video of the 72-hour well capping below:

  • Safety Training with Reduced Footprint

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    Safety Training with Reduced Footprint

    3T is a technology focused organisation that uses training methods such as simulators, e-learning, virtual reality, iPads and integrated software to enhance the skills, knowledge and performance of energy sector personnel.

    One example of this technology already being used in the field is the On-The-Rig (OTR) product – a mobile simulator using extremely realistic scenarios. OTR allows engaging training, competency and assessment to be conducted on-site, however remote the location, removing the need for personnel to be transported elsewhere for continuous learning and assessment. This keeps skills standards consistent and high in the most efficient way.

    3T’s aim is to substantially reduce the amount of time and cost involved in managing skills and competencies, at the same time as delivering better trained personnel, improving levels of safety and increasing profitability.

"We believe that responsible investment is core to our firm’s ambition of building world-class energy companies."

Graeme Sword

Founding Partner

Our ESG Policy

Blue Water Energy (BWE) believes that responsible investment is core to our firm’s ambition: to build world-class energy companies. We recognise that ESG can influence long-term company value and that it is in the best interest of our investors to incorporate ESG into our investment analysis, decision-making and portfolio company engagement processes.

This Responsible Investment policy applies to all of BWE’s investments and covers:

  • Organisational Arrangements
  • Commitments
  • Monitoring and Reporting
  • Vision Statement
  • Policy Scope
  • Management of ESG
View our ESG policy
Blue Water Energy takes an active involvement in supporting local charities & community initiatives.

BWE believe strongly in supporting charities and good causes, especially in the local communities of our office and our portfolio company offices. Our core theme is the welfare of children and we currently support 6 different charities where this principal is at the heart of what they do. We also support on an ad-hoc basis a number of other charities where child welfare is their core purpose. Visit our charities section to find out more about the charities we support.

Visit our charities section
Some of the Blue Water Energy Team take on the Ragnar Relay Race!

Some of the Blue Water Energy team signed up to a unique challenge where they ran 3 'legs' each ranging between 3-11 miles starting in Faversham and finishing off in Brighton. The team did an amazing job and raised £10,650 for Greenhouse Sports through Ragnar sponsorship.
Enjoy the video here!