Corporate Responsibility

Abaco’s corporate responsibility Program Overview

Abaco’s commitment to excellence in the design and manufacture of our products runs core to our being, allowing us to provide the best quality power sections in the industry while serving as a reliable business partner across our value chain. Abaco is building its corporate responsibility journey upon this foundation—an evolution of our unwavering commitment to our customers and business partners. We internally track corporate responsibility data for critical topics year-over-year to monitor our performance. Through our advanced data analytics and adaptable position within the power section industry, Abaco is positioning itself to maintain our high standards of quality, service, safety, and business resilience into the future.

Climate Change

Our work with climate and energy is guided by a physical and transition climate risk assessment conducted in 2022, which allows us to plan our business operations in a way that (1) mitigates the risks of climate change while (2) maximizing opportunities in the energy transition.

  • Abaco has tracked its Scope 1 and 2 emissions since 2019, and in 2022 implemented a GHG Inventory Monitoring Plan to ensure consistent, accurate, and verifiable accounting of our climate impact. Abaco has implemented several emissions reductions and energy efficiency initiatives to continue improving our performance.

  • Abaco is strengthening its position in the expanding renewable energy sector by partnering with geothermal companies to utilize our existing drilling products for clean energy development.

Environmental Stewardship & Circular Economy

Abaco’s operations actively promote the principles of the circular economy and effective resource management. A key component of our business is refurbishing customer parts for reuse, which is an efficient method of reducing raw materials consumption. Abaco applies tracking systems to optimize resources in our value chain, such as GPS tracking of deliveries to minimize emissions. Abaco has set up recycling initiatives such as:

  • Recycling paper, glass and plastic

  • Supplying eco-friendly cups, plates in break rooms

  • Eliminating purchase of single-use water bottles, installing reverse osmosis water coolers and providing employees with insulated cups

Additionally, Abaco uses data analytics to monitor and control water consumption and limit air pollutants.

Health, Safety & Wellbeing

Our most critical responsibility is to ensure our employees’ health, safety, and wellbeing. Committed to safety, Abaco boasts a robust culture guided by senior leaders in our Safety Committee and overseen by our President and HSE Manager. Our goal is to achieve zero injuries annually, and key safety metrics are incorporated into our company bonus compensation plan for executives and all employees.

Our safety commitment extends to the overall health and wellbeing of our employees. Wellness programs include:

  • Onsite Preventative Health Checkups & Wellness Clinics

  • 4-week nutrition program

  • Provision of healthy food and beverage options for employees

  • Financial wellbeing programs

  • Participation in volunteer programs that promote community wellbeing

Diversity, Equity & Inclusion (DE&I)

Diversity, equity and inclusion power our success at Abaco, fostering deeper connections and stronger partnerships. Our Houston workforce reflects the diverse demographics of the local community.

  • Our DE&I policy is included in detail within our Corporate Responsibility Policy, outlining the actions and expectations we have undertaken to promote our company ideals.

Talent Management

Our approach to employee success is captured in our talent management strategy, which emphasizes our priorities of engagement and growth. In addition to competitive compensation and benefits, Abaco encourages participation in a range of development and engagement activities including:

  • Prioritize promotions from within

  • Regular leadership training programs

  • Continuing education programs

  • Quarterly employee luncheons

  • Tuition reimbursement programs

  • Active participation in professional organizations

Product Quality

Our mission is founded upon providing the best quality service to our customers. We deeply appreciate the role we play in our value chain and aim to be the most reliable and responsible business partner in our industry. Our product quality process is guided by our robust Quality Management System, aligned with ISO 9001 standards.

  • For more information on our commitment to service and quality, please visit our About Us page.

Business Ethics & Risk Management

Business ethics and risk management are crucial pillars of Abaco’s business success, supported by our comprehensive policies and training including Code of Business Conduct and Ethics, our whistleblower policy, and mandatory anti-corruption trainings. Our risk management strategy also includes a strong cybersecurity program, which includes mandatory employee training and third-party IT assessments.

Corporate Responsibility Governance

Corporate responsibility at Abaco is managed by an ESG Committee composed of senior leadership and guided by our Corporate Responsibility Policy. The Board of Directors receive quarterly updates on our corporate responsibility program. The Corporate Responsibility Committee meets regularly to ensure we manage risks, execute strategies, and advance our priorities.

Supply Chain

At Abaco, we hold our suppliers to the same standards of excellence in business operations and quality that we impose on our own operations.