Boskalis

Royal Boskalis Westminster N.V.
Quick Facts
Type	Public
sector	Dredging & other maritime services
Headquarters (Benelux Organization)	Papendrecht, Netherlands
Year of Origin	1910
Emissions (Scope 1&2)	1.078 Megatons of CO2 (2021)
Total Revenue	XXX
Stock Exchange	Amsterdam (Euronext)
Key People	Peter Berdowski (CEO), Carlo van Noort (CFO)
Number of employees	10,250 (2021)
Subsidiaries	Boskalis Dragamex Cofra Boskalis Australia Boskalis Nederland Boskalis Environmental SMIT Salvage Boskalis Hirdes Boskalis Russia Boskalis Rockfall Boskalis Terramare Boskalis Westminster Nigerian Westminster Dredging Irish Dredging Llanelli Sand Boskalis Brazil

Company Name, stylized as Company, short description of the company. Founded in what year? Active in which business? Active in how many countries? Where is its headquarter? How many employees? Size and scope of company? Private/public? Net (balance) worth? Revenue and profit? Key player?

Company Structure

Boskalis was established in 1910 by a group of families in Sliedrecht, the Netherlands. Back then, the dredging company did not go by the name Boskalis. In 1930, the name was changed into a more similar name to the current one: NV Baggermaatschappij Bos & Kalis. In 1971 the company went to the stock market and lost its family character.

Rijkswaterstaat was and still is an important commissioning party for Boskalis. Rijkswaterstaat is part of the Dutch Ministry of Infrastructure and Water Management and in charge of the design, construction, management and maintenance of the main infrastructure facilities in the Netherlands.

Boskalis has a long history of becoming less dependent from Rijkswaterstaat. In doing so, it entered the foreign market with varying success. Boskalis initially focused on neighboring countries (particularly Great Britain) and subsequently, via the Dutch East Indies, on Thailand, China and Japan. From 1950 onwards the Middle East and the expanding oil industry offered many new opportunities. In recent decades the tourist industry has become more important. This went hand in hand with financial risks.

After 1960 Boskalis also followed a strategy of growth through diversification by providing different services. These strategies did not turn out to be a success. At the beginning of the 80s, the company was almost bankrupt. By focusing again on dredging and selling all the services that did not have anything to do with that, the company could survive.

Since 2000, Boskalis is again looking for ways to grow, although it focuses on maritime services. Present day, Boskalis has over 130 group companies in around 40 countries over the world. Furthermore, Boskalis has over 25 joint operations.

Board of Management

The board of management consists of four members and is chaired by Peter Berdowski. They are responsible for the day-to-day management of the company.

Board of Management

Name	Function	Remuneration x1000 EUR
Peter Berdowski	Chairman	2,486 EUR
Theo Baartmans	Member	1,715 EUR
Bart Heijermans	Member	1,291 EUR
Carlo van Noort	Chief Financial Officer	1,244 EUR

Supervisory Board

Supervisory Board

Name	Function	Remuneration x1000 EUR
Jeroen van der Veer	Chairman	>60 EUR
Jack de Kreij	Deputy Chairman	>45 EUR
Daan Sperling	Member	>45 EUR
Jacqueline Tammenoms Bakker	Member	>45 EUR
Jaap van Wiechen	Member	>45 EUR
Renée Jones-Bos	Member	>45 EUR

Accountant

From the 2022 financial year on, KPMG is Boskalis’ auditor. Before, the external auditor was Ernst & Young Accountants LLP (EY), but the maximum term of appointment has expired.

Main Activity

In a few sentences, describe the core activities of the company. In a bit more detail than in the introduction.

Government

To what extent can the government influence company policy? (shareholder, licensing authority, client etc.) Has company received NOW support or royal status?

Paris Agreement untill Today

What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.

Financial Results since 2015

This table is meant to indicate that the companies have plenty of money to make their company more sustainable. Clearly distinguish between Dutch data and international data.

Financial situation

Year	Revenue	Profit	Dividend
2015	XXX Billion EUR	XXX EUR	XXX EUR
2016	XXX Billion EUR	XXX EUR	XXX EUR
2017	XXX Billion EUR	XXX EUR	XXX EUR
2018	XXX Billion EUR	XXX EUR	XXX EUR
2019	XXX Billion EUR	XXX EUR	XXX EUR
2020	XXX Billion EUR	XXX EUR	XXX EUR
2021	XXX Billion EUR	XXX EUR	XXX EUR

Scandals and controversies

Any dirt on the companies can be added here.

Current Emissions

In their annual sustainability report, Boskalis does not mention anything about the greenhouse gas emissions of scope 3. Furthermore, they do not show separate numbers for scope 1 and 2. According to Boskalis, their total scope 1 and 2 CO2 emissions amounted to 1.08 million tonnes in 2021. The largest part of the CO2 footprint is linked to the vessels. Emissions from the fleet amounted to 1.06 million tonnes. The reported emissions are from the Offshore Energy division, the Dredging and Inland Infra division and from Offices. They do not include the emissions from the Towage and Salvage division, because the Towage business is incorporated in joint ventures and the Salvage operations rely on vessels from the other divisions or third parties.

Total emissions since 2018

Year	Scope 1 & 2
2021	1.078 Megatonnes CO2
2020	.984 Megatonnes CO2
2019	1.111 Megatonnes CO2
2018	1.180 Megatonnes CO2

Climate Policy and Plans

Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?

Due Diligence

Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.

Conclusion

Recap of the position and influence of the company. Are the climate plans of the company enough to be in line with goals of the Paris Agreement? Is the company doing enough? Are the company's targets realistic?