Sustainability Targets

page_header_targets.jpgEach year we set targets for the coming year and measure our ongoing performance.

Our internal business planning process involves setting targets at the following levels: Corporate Scorecard targets, Corporate Executive Committee Dashboard targets, Divisional Performance Agreement targets, and Functional Performance Agreement targets.

Targets presented in this report reflect our key sustainability areas and help us monitor and drive continual improvement.

Achieved  Underway  Not achieved 

Key 2015 targets

​How we performed

​2016 Key targets

People*

Increase representation of women in middle and senior management roles.Through internal promotion and improved retention, senior female representation increased to 13.8% in 2015.Increase representation of women in middle and senior management roles.
Increase overall percentage of women employed by Woodside.The percentage of women at Woodside increased in 2015 to 28.2%.Increase overall percentage of women employed by Woodside.
Achieve 30.0% female representation on Woodside Board by 2016.There was no change to Board membership in 2015. ​■Achieve 30.0% female representation on Woodside Board by 2016.
Woodside Australian-based workforce to reflect the demographics of the Western Australian Indigenous population by 2015 (3.3%).Our Indigenous workforce represents 2.7% of our Australian-based workforce.Increase percentage of Indigenous people employed by Woodside.
​Conduct employee survey to assess employee engagement and enablement.​Survey conducted with a 79% response rate. Results show an 11% increase in engagement levels and a 5% increase in enablement.
* Additional People targets are reported on pages 30 to 31 of the Sustainable Development Report

Safety

Achieve a total recordable incident rate (TRIR) target of 2.0 to demonstrate sustained progress towards global
top-quartile health and safety performance by 2017.

2015 TRIR was 1.71, representing a 10% improvement from 2014.Achieve a TRIR target of 1.5 to demonstrate sustained progress towards global top-quartile health and safety performance by 2017.
An outcome of zero Tier 1 process safety events (PSEs) and three or fewer Tier 2 PSEs in 2015.Zero Tier 1 PSEs and two Tier 2 PSEs.An outcome of zero Tier 1 PSEs and three or less Tier 2 PSEs in 2016.

Environment

Maintain a low level of environmental incidents – three or fewer reportable environmental incidents to regulators.​Two environmental incidents were reported to regulatory authorities as part of our licence conditions. The incidents were of minor environmental impact. ​Maintain a low level of environmental incidents – three or fewer environmental incidents that are required to be reported to regulatory authorities as part of our licence conditions.
Flaring intensity less than 11 t/kt.

Flaring intensity:

  • Including Balnaves (from August 2015) is 9.2 t/kt.
  • Excluding Balnaves is 8.4 t/kt.
Flaring intensity less than 9 t/kt.
Review Woodside’s environment standards against good industry practice and top-quartile performance of our oil and gas peers.​Benchmarking completed and results included in strategic plan.Reduction of energy intensity by 1% (TJ per kt of hydrocarbon production) in 2016.

​Society

Programs funded by Woodside Development Fund deliver agreed outcomes.Approximately A$2 million and eight initiatives committed during 2015.Programs funded by Woodside Development Fund deliver outcomes that are reported through the monitoring and evaluation framework.
Develop sustainable social investment strategy for implementation post 2015.​Revised social contribution strategy approved and aligns to business activities and impacts. ​Implement 2016 sustainable social contribution strategy to increase spend in host communities.
Increase Reconciliation Interest Group (RIG) membership levels 100% from the 2010 membership base.RIG membership increased from 192 to 219 in 2015, which is a 44% increase on 2010 base.Implement transition to new Reconciliation Action Plan (RAP) and report outcomes.
25 employees to attend expert stakeholder engagement training as part of the 2014 target for improved stakeholder engagement.​37 employees attended stakeholder engagement training.
Implement community grievance mechanism procedure and report on content.Community Grievance Mechanism procedure completed and applied in Karratha and Myanmar.

Economic

Achieve top-quartile total shareholder returns relative to our oil and gas peer group.​Achieved a ten-year total shareholder return (TSR) of 2.5%, ranking second against our peers. Achieve top-quartile total shareholder returns relative to our oil and gas peer group.
Meet 2015 production guidance of
84–91 MMboe.
​Achieved production of 92.9 MMboe, our second highest annual result. Meet 2016 production target range of 86–93 MMboe.
Replace production through additional reserves.​Increased 2P Developed and Undeveloped Reserves by 12.7%.​Replace production through additional reserves.
A stretch RAP target of 150 cumulative Indigenous contracts between 2011 and 2015.​Exceeded target; delivery of 175 contracts.