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Woodside keeps up with climate promises

The energy giant is committed to delivering its climate targets in a timely manner.

“Our targets are critical, and we are on track to meet them”, Woodside Energy chief executive officer Meg O’Neill said..

“Our first target is to reduce our net equity Scope 1 and 2 emissions 15 per cent, below our starting base, by 2025.

“In 2023 we reduced our emissions to 12.5 per cent below this and are on track to meet our target next year.”

Reducing the company’s net equity Scope 1 and 2 greenhouse gas emissions is supported by three levers: avoiding emissions in design, reducing emissions in operations, and offsetting the remainder with carbon credits.

Investing in products and services is also supported by three levers: assessing investments for their resilience to the energy transition; diversifying products and services; and supporting customers and suppliers to reduce their emissions.

These levers are supported by Woodside’s work to promote global measurement and reporting – including our own publication of transparent disclosures.

Climate change is a standing agenda item at each regular meeting of the Woodside sustainability committee, or the board when the sustainability committee does not meet, with information presented by management, external advisers or third-party specialists where appropriate.

In 2023, Woodside completed the development of decarbonisation plans across our merged portfolio of operated assets including identifying potential large scale opportunities to reduce emissions beyond 2030.

“We achieved this,” O’Neill said, “by designing and operating out emissions, and using carbon credits as offsets. We aspire to achieve net zero equity Scope 1 and 2 emissions by 2050, or sooner.”

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