Bristow Unveils Sustainability Achievements in Latest Report

Rhea-AI Summary

Bristow Group (NYSE: VTOL) released its third annual Sustainability Report on May 15, 2024, detailing significant achievements in 2023. The company highlighted a 50% reduction in Lost Work Cases and a 39% decrease in Total Recordable Incident Rate. The UK Search and Rescue team rescued 523 people in 2,596 missions. Bristow complied with Global Reporting Initiative standards and completed ISO 27001 certification in two regions. The company also made strides in Advanced Air Mobility (AAM), adding a new strategic partner and completing the first electric aircraft flight in Louisiana. Furthermore, Bristow introduced a Human Rights Framework and appointed Shefali Shah to its Board of Directors.

Positive

• Achieved a 50% reduction in Lost Work Cases.
• Experienced a 39% decrease in Total Recordable Incident Rate.
• UK Search and Rescue team rescued 523 people in 2,596 missions.
• Complied with Global Reporting Initiative standards for sustainability reporting.
• Completed ISO 27001 certification in two regions, with plans for global extension.
• Added a new strategic partner in Advanced Air Mobility, totaling eight partners.
• Completed the first electric aircraft flight in Louisiana, marking a significant milestone.
• Introduced a new Human Rights Framework and comprehensive Human Rights Policy.
• Appointed Shefali Shah as a new independent member of the Board of Directors, enhancing governance.

Negative

• No concrete financial data disclosed, lacking specific impact on revenue and profitability.
• Unclear timeline and financial commitment for global ISO 27001 certification extension.
• Potential high costs associated with Advanced Air Mobility initiatives and electric aircraft developments.
• details on the impact of sustainability initiatives on long-term financial performance.

• Rescued 523 people during 2,596 missions by our UK Search and Rescue (SAR) team
• Achieved compliance with internationally recognized benchmarks for sustainability reporting by adhering to Global Reporting Initiative (GRI) standards
• Continued success in Advanced Air Mobility (AAM) initiatives
• Completed ISO 27001 certification in two key regions with plans to extend globally
• Bolstered commitment to protecting human rights by implementing a new Human Rights Framework and management system

HOUSTON, May 15, 2024 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL) announced today the release of its third annual Sustainability Report, which underscores Bristow's ongoing commitment to responsible growth and sustainable practices, as well as aligning with internationally recognized frameworks and standards to offer stakeholders a transparent view of the Company's efforts.

"Our core mission remains focused on providing exceptional service and maintaining the safety standards our customers have trusted for over 75 years," said Bristow President and CEO Chris Bradshaw. "Our overall sustainability goal is to minimize our environmental footprint and maintain the resilience of our operations and competitive advantage, which we accomplish through an inclusive workforce and active employee outreach in the places we work and call home."

This year's report highlights Bristow's updates to its materiality assessment, ensuring that the Company's sustainability efforts remain aligned with stakeholder expectations as well as the most relevant areas of potential impact.

Bristow achieved a 50 percent reduction in Lost Work Cases and a 39 percent decrease in Total Recordable Incident Rate in 2023, compared to the previous year, reaffirming the Company's commitment to safety as its #1 core value and highest operational priority.

Bristow is also making significant strides in AAM. In 2023, the Company added a new strategic partner bringing the total number of leading AAM manufacturers to eight. Bristow continues helping to pioneer the development and certification of aircraft powered by electric and hybrid propulsion technologies that will reduce greenhouse gas (GHG) emissions.

"We offer decades of extensive experience that place us at the forefront of the AAM industry contributing critical safety, operations, certification, and logistics expertise. Together with our partner, BETA Technologies, we completed the first ever electric aircraft flight in the state of Louisiana marking a significant milestone," Bradshaw added.

Bristow also reinforced its dedication to ethical business practices and human rights with the creation of a Human Rights Framework and a comprehensive Human Rights Policy. These initiatives not only strengthen the Company's commitment to global standards but also set the stage for enhanced oversight.

This commitment to excellence extends to Bristow's governance, as evidenced by the addition of Shefali Shah as a new independent member of the Board of Directors. Her extensive industry insight enriches Bristow's strategic deliberations and helps guide the Company forward.

Bristow's full 2023 Sustainability Report is available on the Company's website at https://www.bristowgroup.com/sustainability-report-2023.

About Bristow Group

Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. The Company's aviation services include personnel transportation, search and rescue ("SAR"), medevac, fixed-wing transportation, unmanned systems, and ad hoc helicopter services. 

Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Ireland, the Kingdom of Saudi Arabia, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the UK and the U.S.

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SOURCE Bristow Group

FAQ

What sustainability achievements did Bristow report in 2023?

Bristow achieved a 50% reduction in Lost Work Cases and a 39% decrease in Total Recordable Incident Rate. They also rescued 523 people during 2,596 missions through their UK Search and Rescue team.

What standards did Bristow comply with in their 2023 Sustainability Report?

Bristow complied with Global Reporting Initiative (GRI) standards for sustainability reporting.

What advancements did Bristow make in Advanced Air Mobility (AAM)?

Bristow added a new strategic partner, bringing the total to eight AAM partners, and completed the first electric aircraft flight in Louisiana.

What certifications did Bristow achieve in 2023?

Bristow completed ISO 27001 certification in two key regions, with plans to extend this certification globally.

How did Bristow reinforce its commitment to ethical practices in 2023?

Bristow introduced a new Human Rights Framework and comprehensive Human Rights Policy.

What new board appointment did Bristow announce in 2023?

Bristow announced the appointment of Shefali Shah as a new independent member of its Board of Directors.

How did Bristow's UK Search and Rescue team perform in 2023?

Bristow's UK Search and Rescue team rescued 523 people during 2,596 missions.

What was a significant milestone for Bristow in electric aircraft development?

Bristow completed the first-ever electric aircraft flight in the state of Louisiana.