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Woodside signs COP28 decarbonisation pledge

Woodside Energy

Woodside Energy has signed the Oil & Gas Decarbonisation Charter launched at the United Nations Climate Change Conference (COP28).

While the charter was signed by 50 global oil and gas companies, Woodside Energy is the only Australian signatory.

Woodside chief executive officer Meg O’Neill said signing the charter reinforced the company’s commitment to reducing carbon and methane emissions.

“The Charter is dedicated to speeding up climate action and achieving high-scale impact across the oil and gas sectors, including through cooperation with governments to support national policies that accelerate net zero delivery; partnering with the technology and financial sectors to drive holistic outcomes; and engaging with customers and other energy-intensive industries to reduce emissions,” O’Neill said.

“Woodside is already committed to reducing our net equity Scope 1 and Scope 2 emissions by 15 per cent by 2025 and 30 per cent by 2030, and an aspiration for net zero by 2050 or sooner.

“We have also had a strong historic focus on minimising methane emissions. This meant that in 2022, our methane emissions were around 0.1 per cent of our production by volume, well below the Oil and Gas Climate Initiative (OGCI)’s methane intensity target of below 0.2 per cent.”

According to O’Neill, the COP28 charter is a significant step forward for the company.

“The COP28 Charter recognises that a differentiated approach to the energy transition is required to take advantage of the diversity of capabilities across the oil and gas sector,” she said.

“By signing this important industry Charter, Woodside is reaffirming its strong commitment to working with our peers to take action on climate change.”

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