Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health and safety
• Environment
• Social
• Economic
• Governance and compliance

Environmental Achievements

• Flaring intensity of 10 t/kt (24% better than the target of 13.1 t/kt)
• 7% reduction in energy consumption intensity
• Awarded the inaugural Western Australia Department of Fisheries Excellence in Marine Biosecurity Award for risk-based management of marine biofouling

Social Achievements

• Launched the A$20 million Woodside Development Fund for early childhood development
• Exceeded social investment target of 0.5% of three-year average PBT, achieving 0.7%
• Increased Indigenous contracts to 135 (exceeding the target of 100)

Governance Achievements

• Implemented a company-wide tool for the declaration, review and monitoring of potential conflicts of interest by employees
• Enhanced anti-bribery and corruption due diligence procedures
• Implemented a new Regulatory Compliance Management Operating Standard

Climate Goals & Targets

Environmental Challenges

• Gender diversity fell short of targets
• Four environmental incidents reported to regulators
• City of Karratha experienced a significant slowdown in economic activity

Mitigation Strategies

• Increased focus on mid-career professional development and graduate opportunities for women in 2015
• Implementation of a Community Relations framework for improved stakeholder engagement and impact management
• Productivity program to improve organisational efficiency by 10 to 20% by end 2016

Supply Chain Management

Responsible Procurement

• Contract Lifecycle Management System
• Early engagement with contractors
• Regular supplier performance reviews

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI G3.1, IPIECA

Third-party Assurance: Ernst & Young

Awards & Recognition

• Western Australia Department of Fisheries Excellence in Marine Biosecurity Award
• Professor David Dolan 2014 Western Australian State Heritage Award (for Weerianna Street Media project)

Environmental Metrics

ESG Focus Areas

• Major incident prevention and response
• Climate change policy and response
• Global health and safety performance
• Technical integrity
• Regulatory compliance
• Biodiversity and ecosystems
• Social and cultural impacts
• Supply chain and local content
• People capability and diversity

Environmental Achievements

• 8% reduction in flared gas intensity through sustained focus on eliminating flaring and improving facility reliability
• Zero significant environmental incidents

Social Achievements

• Implementation of a community grievance mechanism procedure in Karratha and Myanmar
• Increased overall percentage of women employed by Woodside to 28.2%
• Increased senior female representation to 13.8%
• A$13.9 million contributed through voluntary social investment

Governance Achievements

• Granted membership to the Voluntary Principles on Security and Human Rights Association
• No legal findings against Woodside in relation to harassment, discrimination or equality in employment
• No violations of anti-bribery and corruption laws detected

Climate Goals & Targets

Environmental Challenges

• Low oil prices impacting profits
• Falling short of Indigenous employment target (2.7% vs 3.3%)
• Need to continue to focus on delivering sustainable high performance in some health and safety functions

Mitigation Strategies

• Productivity initiatives to achieve economic resilience
• Focus on reducing turnover rates and raising Indigenous employment levels
• Consistent emphasis on visible leadership and supervisor engagement in health and safety

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Anti-bribery and corruption due diligence procedures
• Contract audit program encompassing sustainability

Climate-Related Risks & Opportunities

Transition Risks

• Uncertainty surrounding future regulatory and policy frameworks
• Increasing social pressure for action on climate change

Opportunities

• Increase use of natural gas to support renewable energy

Reporting Standards

Frameworks Used: GRI G4 core level reporting, IPIECA Oil and Gas Industry Guidance on Voluntary Industry Reporting (2015)

Third-party Assurance: Ernst & Young

Awards & Recognition

• APPEA Environment Excellence Award
• 2015 APPEA Health and Safety Conference Health and Safety Innovation Award
• Delegates Choice Award for Health and Safety

Environmental Metrics

ESG Focus Areas

• Climate change
• Major incident prevention
• Major incident response
• Transparency, anti-bribery and corruption
• Health and safety performance

Environmental Achievements

• Implemented 61 ktCO2e sustained emissions savings in calendar year.
• Achieved a 99% Global Assurance Benchmark Spill Preparedness rating (RETOS 2)
• Reduced water use by 5% in absolute terms
• 41% decrease in waste over the past four years

Social Achievements

• 21% reduction in the total recordable injury rate
• Exceeded targets for Indigenous employment and business contracts
• Introduced Board-approved policy to respect Human Rights
• Launched the first LNG-fuelled marine support vessel Siem Thiima in the southern hemisphere

Governance Achievements

• Zero violations of anti-bribery and corruption laws within or in connection with Woodside
• Woodside’s Fraud and Corruption Control Program was strengthened
• Updated e-learning corruption training to 1,918 managers and personnel

Climate Goals & Targets

Environmental Challenges

• Did not achieve additional 1% fuel intensity improvement and 7.5 t/kt flaring intensity targets due to lower than expected onshore gas plant reliability in H1 2017.
• Operational flaring in 2017 exceeded target by 50,000 tonnes due to defects in main heat exchangers at Karratha Gas Plant.
• Shortage of quality short-term accommodation in Karratha due to non-renewal of Woodside’s lease for Gap Ridge Village workers accommodation facility.

Mitigation Strategies

• Equipment repairs are underway to get back on track for fuel intensity and flaring intensity targets.
• Scheduled repairs in 2018 will reduce flaring from Karratha Gas Plant.
• Woodside is proposing to redevelop the existing Bay Village site to deliver a new 700-bed workers’ accommodation facility.

Supply Chain Management

Responsible Procurement

• Supplier Code of Business Conduct
• Australian Supplier Payment Code

Climate-Related Risks & Opportunities

Physical Risks

• Sea level rise

Transition Risks

• Reduced demand for fossil fuels

Opportunities

• Demand for lower carbon fuels
• Energy efficiency

Reporting Standards

Frameworks Used: GRI G4 core-level reporting, IPIECA

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• Goal 7: Affordable and clean energy
• Goal 9: Industry, innovation and infrastructure
• Goal 13: Climate action
• Goal 14: Life below water
• Goal 17: Partnerships for the goals

Woodside's activities and operations contribute to all 17 SDGs, with a focus on these five goals.

Sustainable Products & Innovation

• LNG as a cleaner alternative fuel to diesel

Awards & Recognition

• Dow Jones Sustainability Index Silver Class award
• APPEA Safety and Environment Excellence awards
• World Petroleum Council Excellence Award
• State Arts and Culture Partnership Honours

Environmental Metrics

ESG Focus Areas

• Climate change
• Community engagement
• Health and safety
• Diversity and inclusion
• Responsible waste management

Environmental Achievements

• Developed a world-class mercury recycling facility in Karratha, reducing reliance on overseas disposal and creating local jobs.
• Implemented energy efficiency improvements across operated assets, resulting in a reduction of fuel usage and flaring.
• Supported the Ningaloo Turtle Program, contributing to sea turtle conservation efforts.

Social Achievements

• Launched the online Karratha Jobs Portal to boost local employment opportunities.
• Supported the establishment of an institute in Senegal to train future leaders in the country’s petroleum industry.
• Partnered with a university in Myanmar to provide practical work experience for petroleum engineering students.
• Made positive improvements on female diversity, with females making up more than 50% of the 2019 graduate cohort.
• Recognized for supporting LGBTI staff through Spectrum, receiving the award for best New LGBTI Employee Network at The Australian LGBTI Awards.

Governance Achievements

• Completed Environment and Social Impact Assessments (ESIA) in Senegal and Myanmar.
• Implemented new leadership programs to build leadership skills across the company.

Climate Goals & Targets

Environmental Challenges

• Managing climate change risks and opportunities.
• Ensuring responsible community engagement in diverse regions.
• Meeting domestic gas objectives in Western Australia.

Mitigation Strategies

• Developed a climate change strategy and policy to reduce net emissions intensity.
• Undertook materiality assessments to identify and understand topics of importance to stakeholders.
• Established a domestic pipeline gas facility at the Pluto LNG plant.
• Engaged with communities and local authorities to ensure project approvals and support.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Top Resources Industry graduate employer for 2019 (AFR)
• Award for best New LGBTI Employee Network at The Australian LGBTI Awards (Spectrum)

Environmental Metrics

ESG Focus Areas

• Climate change and greenhouse gas emissions
• Health, safety and wellbeing
• Social and cultural impacts on communities
• Business continuity
• Fraud, anti-bribery and corruption
• Human rights
• Innovation and technology
• Regulatory compliance
• Supply chain and local content
• Transparency
• Business resilience
• Corporate governance
• Cybersecurity
• Environment
• Major incident preparedness
• People and culture

Environmental Achievements

• 8% improvement in energy efficiency against baseline, 2016–2020
• Received the 2019 National APPEA award for environmental leadership and performance

Social Achievements

• Best-ever personal safety performance with a TRIR of 0.88
• Established the COVID-19 Community Fund providing direct support to local community organisations
• Completion of the 2016–2020 RAP with positive outcomes
• Increased Indigenous participation in our directly employed workforce to 3.9%
• Increased female representation across all levels of management at or above targets
• A$23.5 million contributed to communities through strategic partnerships, the Woodside Development Fund, value of staff time spent volunteering and our COVID-19 Community Fund

Governance Achievements

• No significant regulatory fines or sanctions
• Completed our anti-fraud and corruption compliance program review and audit
• Achieved a 100% completion rate for our Code of Conduct and anti-bribery and corruption training
• Zero violations of anti-bribery and corruption laws within or in connection with our operations during 2020

Climate Goals & Targets

Environmental Challenges

• Failure to achieve Woodside’s Scope 1 and 2 emissions reduction targets
• Cost of abatement increases e.g. through inefficient regulation
• Market for LNG and new energy products develops differently to range of expectation
• Adverse impacts on cultural heritage
• Inadequate consultation with community stakeholders
• Failure to manage adverse social impacts of our activities
• Suboptimal outcomes from our social contributions
• Increase in overall cyber-attacks and the sophistication and prevalence of targeted attacks
• Adapting to new ways of working in response to COVID-19

Mitigation Strategies

• Commence delivery of new 2025 and 2030 emissions reduction targets
• Embed the social performance framework across the business, with a focus on operations and projects
• Enhance local employment and contracting opportunities
• Measure progress by reporting on community dashboard indicators
• All known cyber risks are under active management
• Promptly enabled our workforce to securely work from home in response to COVID-19
• Identification of Crown Jewel assets complete, allowing for a prioritised approach to addressing cybersecurity threats

Supply Chain Management

Responsible Procurement

• Australian Supplier Payment Code

Climate-Related Risks & Opportunities

Transition Risks

• Failure to achieve Woodside’s Scope 1 and 2 emissions reduction targets
• Cost of abatement increases e.g. through inefficient regulation
• Market for LNG and new energy products develops differently to range of expectation

Opportunities

• Reduce cost and emissions, and increase sales gas volumes, through increased energy efficiency
• Accelerate deployment of new energy technologies through government and customer partnerships

Reporting Standards

Frameworks Used: GRI Standards core option, IPIECA API and IOGP (2020) Sustainability Reporting Guidance

Third-party Assurance: Deloitte Touche Tohmatsu (limited assurance); GHD (Scope 1 and 2 emissions); Business for Societal Impact (social investment)

UN Sustainable Development Goals

• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action
• Goal 4: Quality Education
• Goal 9: Industry, Innovation and Infrastructure
• Goal 14: Life Below Water
• Goal 15: Life On Land
• Goal 11: Sustainable Cities and Communities
• Goal 17: Partnerships for the Goals

Woodside's strategy aligns with these SDGs through its operations, community engagement, and commitment to reducing emissions and developing lower-carbon energy sources.

Awards & Recognition

• 2019 National APPEA award for environmental leadership and performance

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Achieved 10% reduction in net equity Scope 1 and 2 greenhouse gas emissions compared to the 2016-2020 gross annual average.
• Methane emissions were less than 0.1% of production by volume (below OGCI 2025 target of below 0.2%).
• Pluto Train 2 design resulted in significantly improved design efficiency, estimated savings of 425 kt CO2-e p.a.
• Karratha Gas Plant turbine optimization estimated savings: 55–150 kt CO2-e p.a.

Social Achievements

• Not disclosed

Governance Achievements

• Established a specific measure for equity Scope 1 and 2 greenhouse gas emissions reduction in the Corporate Scorecard for executive remuneration.
• Board regularly discussed climate change and incorporated climate-related matters into its decision-making.
• Reviewed and updated Climate Policy in 2021 and 2022.

Climate Goals & Targets

Environmental Challenges

• Precise measurement of greenhouse gas emissions from individual units of plant and equipment is challenging.
• Customer demand for new energy products and lower-carbon services is still relatively small.
• Challenges to robust Scope 3 emissions reporting include inconsistent reporting regimes across the global value chain, boundaries that ignore the real-world emissions reduction impact of offsets and coal-to-gas switching, and average end-use emissions factors that fail to identify differences in end-use emissions between customers.
• The policy options to address climate change are diverse and contested in political and community debate.

Mitigation Strategies

• Woodside plans to improve emissions measurement in 2022.
• Woodside is working with customers to invest in the infrastructure and equipment needed to consume new energy products.
• Woodside's Scope 3 emissions plan aims to find solutions to address inconsistent reporting regimes, and average end-use emissions factors.
• Woodside aims to be transparent about its actions and engage with stakeholders.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Hotter working conditions
• Lower rainfall in tree planting areas
• Rising sea levels and storm surge risk
• Reduced access to water

Transition Risks

• Policy and legal risks
• Delays to project approvals
• Increased pricing or other regulatory control of emissions
• Mandates or controls on hydrocarbon product use
• Unsuccessful investment in new technologies
• Faster than expected substitution of hydrocarbon products
• Slower than expected adoption of new energy and lower-carbon services
• Increased stakeholder concern

Opportunities

• Fuel gas savings diverted to sales gas
• More efficient shipping fleet
• More efficient building stock
• Recycling of decommissioned materials
• Use of renewable energy generation
• Use of efficient technologies
• Use of energy storage
• Paris-aligned portfolio of products and services
• Development of new business lines
• Use of public sector incentives
• Access to new markets
• Access to sustainable finance

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Null

Third-party Assurance: GHD

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 13 (Climate Action)
• SDG 8 (Decent Work and Economic Growth)

Woodside's contribution to supplying energy in the form of LNG and new energy products; aiming to be a supportive and responsible employer and provide opportunities across its value chain; and supporting economic diversification and resilience.

Sustainable Products & Innovation

• Hydrogen
• Ammonia
• CCUS

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Achieved 11% reduction in net equity Scope 1 and 2 greenhouse gas emissions compared to the starting base.
• Methane emissions were around 0.1% of production by volume.
• Became a signatory to the Aiming for Zero Methane Emissions initiative.

Social Achievements

• Not disclosed

Governance Achievements

• Established a new Strategy and Climate Group to integrate climate strategy with corporate strategy.
• Included a specific measure for gross equity Scope 1 and 2 greenhouse gas emissions in the Corporate Scorecard for performance-based remuneration.

Climate Goals & Targets

Environmental Challenges

• Uncertainty surrounding the pace and shape of the energy transition.
• Challenges to robust Scope 3 emissions reporting (inconsistent reporting regimes, boundaries ignoring real-world impact of offsets, average end-use emissions factors failing to identify differences between customers).
• Potential for carbon credits with varying integrity to be available on the market.

Mitigation Strategies

• Uses a range of climate scenarios to inform strategy and planning and test financial resilience.
• Developed asset decarbonisation plans to identify opportunities to reduce emissions.
• Developed a methane emissions reduction plan.
• Established a due diligence process to assess the integrity of carbon credits acquired through market purchases.
• Investing in new energy products and lower carbon services to reduce Scope 3 emissions.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Embedding climate expectations and emissions reporting in new contracts.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (tropical cyclones, hurricanes, rainfall, flooding, storm surge, lightning, squalls, bushfires, heat waves)
• Longer-term shifts in climate patterns (warmer temperatures, rising sea levels, coastal erosion, reduced water availability, lower rainfall)

Transition Risks

• Policy and legal risks (litigation, increased operating costs, regulatory approvals, asset valuation changes, legal costs and fines, shareholder divestment, access to capital)
• Technology risks (unsuccessful investments, higher costs, overreliance on policy support, technology disruption)
• Market risks (faster substitution of hydrocarbon products, demand destruction, slower adoption of new energy, uncertainty in transition pathways)

Opportunities

• Resource efficiency (fuel gas savings, more efficient shipping, recycling)
• Energy source (renewable energy generation, efficient technologies, energy storage)
• Products and services (diverse portfolio, new business lines, new technologies)
• Markets (public sector incentives, collaborative partnerships, access to new markets)
• Resilience (broader portfolio, access to sustainable finance)

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Null

Third-party Assurance: GHD

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Liquid hydrogen (H2OK)
• Hydrogen and ammonia (H2Perth, Southern Green Hydrogen, H2TAS)
• Carbon capture and storage (Browse Basin, Northern Carnarvon Basin, Bonaparte Basin, Gippsland Basin)
• Carbon to products (collaboration with ReCarbon, LanzaTech, String Bio)

Awards & Recognition

• Game Changer Award (methane emissions reduction plan)

Environmental Metrics

ESG Focus Areas

• Climate
• Health, safety and wellbeing
• Environment and biodiversity
• First Nations cultural heritage and engagement

Environmental Achievements

• 12.5% reduction in net equity Scope 1 and 2 greenhouse gas emissions below starting base in 2023 (compared to 11% in 2022)
• Secured planning approvals and State and Federal environmental approvals for the proposed Woodside Solar Project near Karratha.
• Completed the development of decarbonisation plans across its merged portfolio of operated assets.

Social Achievements

• Continued proactive community engagement and relationships
• Steady improvement in workforce engagement scores reflecting improved organisational climate
• Progress made with improvements to recruitment process, digital accessibility, introduction of a Workplace Adjustments Guide and awareness raising events held by the Employee Resource Group ADAPT (Advocates for Different Abilities and Personal Traits).

Governance Achievements

• Adopted a Mandatory Clawback Policy consistent with the requirements of Section 303.A14 of the New York Stock Exchange Listed Company Manual.
• Completed a significant internal investigation into the incident at North Rankin Complex and presented the findings and agreed actions to the Board and the National Offshore Petroleum Safety and Environmental Management Authority.
• Facilitated an external review of its integrated safety and operational systems.

Climate Goals & Targets

Environmental Challenges

• Fatality of a colleague at the North Rankin Complex in June 2023.
• Total recordable injury rate (TRIR) of 1.86 increased with 39 recordable injuries in 2023, compared to 30 in 2022.
• Process safety performance below target with three Tier 1 or 2 process safety events recorded.

Mitigation Strategies

• Commissioned an external review of its safety systems.
• Implementation of additional operational controls based on preliminary investigation insights into the incident at North Rankin Complex.
• Focus on field leadership and engagement, risk assessments and equipment management processes.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of storms, wildfires, floods and other climatic events
• Chronic shifts in temperature and precipitation patterns

Transition Risks

• Impacts to demand for oil and gas
• Policy and legal environment changes
• Reputational risks

Opportunities

• Resources efficiency
• Energy sources
• Products and services
• Markets and resilience

Reporting Standards

Frameworks Used: TCFD

Sustainable Products & Innovation

• Hydrogen
• Ammonia
• CCS
• Solar energy