Environmental, Social, And Corporate Governance
Sustainability Matters
These underlying core values guide our focus to ensure sustainability is embedded across all our operations as a company. We work closely with our partners and our stakeholders to improve energy efficiency globally and reduce the carbon footprint across the world.
We believe technological innovation is key to improving energy efficiency and providing people around the world with universal access to reliable, affordable, clean energy. By doing so, we stimulate economic growth and enhance the standard of living for all, improving health and creating employment opportunities globally.
"We are committed to operating in a manner that promotes human rights, health and safety, and ethical behavior in all the countries in which we conduct business, reducing our own greenhouse gas emissions footprint, and helping the world transition to a low-carbon future.”
Making Sustainability A Core Value
Our focus on sustainability, and the core values underlying them, extends throughout Dril-Quip. We work closely with partners and stakeholders to improve energy efficiency and reduce the carbon footprint on a global scale.
Technological innovation is key to improving energy efficiency and providing people around the world with universal access to reliable, affordable and clean energy. We’ve made this our mission, stimulating economic growth, enhancing the universal standard of living, improving health and creating employment opportunities around the world.
Supporting The UN Global Compact
As an active signatory of the United Nations (UN) Global Compact, Dril-Quip supports the organization's Ten Principles on human rights, labor, environment, and anti-corruption.
Incorporating these principles into our culture, strategy and day-to-day operations, we engage in collaborative projects to advance the broader UN objectives, particularly its Sustainable Development Goals (SDGs), and reporting on our progress towards the Ten Principles and SDGs to the stakeholders and the general public.
Sustainability begins with supporting the Ten Principles of the UN Global Compact that advance societal goals, across human rights, labor, environment, and anti-corruption.
Human RightsOpen
Dril-Quip, along with our subsidiaries, supports universal human rights described in the UN’s Universal Declaration of Human Rights. We believe governments have the primary responsibility of protecting and upholding the human rights of their citizens. We respect the sovereignty of governments throughout the world, we recognize our responsibility to respect human rights, and we are committed to preserving these rights within our operations. We also recognize that we can make a positive contribution to promoting human rights by respecting the rights of people in the communities where we operate and those of Dril-Quip suppliers and business partners and by opposing human trafficking and the exploitation of children.
LaborOpen
Dril-Quip supports the protection and safety of our employees. Committed to providing equal opportunities in all aspects of employment, we maintain policies that prohibit discrimination or harassment based on race, color, national origin, genetic information, religion, gender, pregnancy, marital status, sexual orientation, age, disability or military services. In the United Kingdom, we maintain programs to ensure compliance with the U.K. Modern Slavery Act and the U.K. Gender Pay Gap requirements.
We have made commitments to the following labor and human rights issues globally:
- Human Trafficking and Forced Labor
- Fair Wages, Working Conditions, and Benefits
- Child Labor
- Diversity, Equity, and Inclusion
- Anti-harassment
- Parental Leave
EnvironmentOpen
Sustainability has always been at the core of our operations. We believe our technology enables customers to reduce operational and environmental risks, empowering their efficiency and reducing their overall carbon footprint. This is ingrained in our culture of The Power of e™ and exemplified by our Green By Design™ solutions that link a focus on sustainability across our entire product portfolio.
Committed to environmental stewardship, we actively engage in sustainable practices throughout our operations. As a member of the greater energy industry, we strive to deliver products that allow our customers to responsibly provide greater access to affordable, reliable energy for people everywhere.
Anti-CorruptionOpen
At Dril-Quip, our reputation for conducting business lawfully and ethically is essential to our continued success. Our policy is to comply with the United States Foreign Corrupt Practices Act (FCPA), the U.K. Bribery Act and all other applicable laws against corruption.
We Are Committed To UN Sustainable Development Goals
In 2015, all UN Member States adopted the 2030 Agenda for Sustainable Development as a shared blueprint to eradicate poverty, protect the planet and promote peace. At the heart of this agenda are 17 Sustainable Development Goals (SDGs) that serve as a blueprint for a more sustainable future.
Taking Tangible Steps To Achieve SDG Benchmarks
SDG Goal 4: Quality Education
To ensure inclusive and equitable quality education and promote lifelong opportunities for all, Dril-Quip has made commitments to community involvement, STEM education, young-professional development, and workforce engagement.
SDG Goal 5: Gender Equality
To achieve gender equality and empower all women and girls, Dril-Quip has made commitments to employee engagement and development of peer networks, community investment, talent retention and recruitment, and Board, and employee diversity.
SDG Goal 7: Affordable And Clean Energy
To ensure access to affordable, sustainable and modern energy for all, Dril-Quip has made commitments to energy efficiency, industry-leading environmental management systems, evolutionary technology solutions, and renewable energy.
SDG Goal 13: Climate Action
To take urgent action to combat climate change and its impact, Dril-Quip has made commitments to energy efficiency and industry-leading environmental management systems.
SDG Goal 15: Life on Land
To prevent biodiversity loss, Dril-Quip has made commitments to using environmentally sound practices, developing and implementing biodiversity management plans across operations, conducting regular site assessments, monitoring, and reporting progress to stakeholders, while training and engaging in other corporate initiatives to preserve the environment.
Fundamentals Of Achieving Long-term ESG Goals
People
Our global, cross-functional teams collaborate with leading environmental experts to identify next-generation drilling and completion technologies, helping our customers mitigate climate risk, reduce costs, and drive operational efficiency.
Processes
We follow leading industry standards to manage health, safety, and environmental risks. Working closely with customers, we incorporate their feedback and identify technologies to enable, empower and equip them to drive energy efficiency, reducing the industry’s overall carbon footprint.
Technologies
With numerous differentiating technologies, we help our customers save time and money while reducing safety and environmental risks. Our Green By Design™ initiative is our latest example of how we improve energy efficiency and contribute to environmental sustainability.
Comprehensive Yet Straightforward: Our Approach To Energy Transition
In a rapidly changing market and regulatory environment, we listen closely to our customers, which allows us to develop solutions that directly benefit them. Our approach has resulted in products that are lighter, more compact, require less hardware, and reduce time to first oil, which naturally contributes to lower carbon emissions.
Whether it’s meeting UN SDG goals or business objectives, we continually evolve and align our capabilities to our customers’ needs, enabling the energy transition.
ENGAGE: Continuous engagement with customers to better understand their strategic priorities, centered on driving efficiency and reducing carbon emissions across operations.
INVEST: Heavily focused on R&D, as innovation has been central to the evolutionary technologies that we have brought to market since 1981.
INNOVATE: Based on customer feedback and needs, continually improving our product portfolio to offer game-changing technology.
EMPOWER: Enabling customers to minimize operational, health and safety risks while reducing their carbon footprint.
SUPPORT: Help for our local communities and making clean, affordable energy available, raising the standard of living for all people with our technology.
Three Strategic Pillars
For the benefit of all our stakeholders —customers, investors, employees and communities — Dril-Quip has prioritized our three strategic pillars.
Protecting The Environment Through Innovation
We have invested heavily in R&D and technology to protect the planet, enhance safety, drive operational efficiency and reduce the overall carbon footprint.
Empowering Our Employees Through DEI
We have empowered our workforce by supporting diversity, equity and inclusion, providing employee training and development, and driving excellence in workplace health and safety.
Supporting Our Local Communities On A Global Scale
We engage actively in the local communities in which we operate around the world, pulling together for the benefit of all.