The primary aim of this research is to consider the correlation among environmental factors in calculating 100 and 1000 years of extreme load design criteria. This is done by considering load as energy transferred from external environment to the offshore system. Also, incorporating spatial and temporal dependence of environmental variables in the context of offshore design. A bivariate extreme value distribution and a conditional joint return level function are developed using the Gumbel–Hougaard copula. The offshore design risk criteria are developed for the finer grid locations (0.1 deg × 0.1 deg latitude/longitude grid) considering joint extreme wind and wave energy. The developed approach is tested using data for the Flemish Pass basin off the east coast of Canada. Along with the primary aim, the impact of climate change is investigated (time and space variability) by implementing the proposed methodology in two cases: the periods from 1959 to 1988 and 1989 to 2018. This study observed that climate change has caused 30% less correlation between wind speed and wave height in recent years (1989–2018) compared to the period of 1959–1988. The proposed extreme design wind speed is 39.7 m/s, and significant wave height is 16.4 m; their joint exceeding probability is 5.80 × 10−5 over an annual basis for a scenario of 100-year.