Woodside recognises the scientific consensus on climate change and the challenge of providing safe, clean, affordable and reliable energy whilst reducing emissions. We also acknowledge that investors, regulators and other stakeholders are increasingly demanding transparency over how a carbon-constrained world may impact our business
We can play an important role in supplying sustainable and affordable energy supporting the growth of renewables, while reducing climate change and air quality impacts. In 2016 we elevated climate change in our registered and refined how we will manage this risk. We have refined our approach to Carbon and Climate Change and published a Climate Change Policy
Woodside’s greenhouse gas emissions come from three main sources:
- Fuel gas used to power our facilities.
- Flaring to ensure safe production.
- Vented carbon dioxide from our reservoirs.
Each of the three main sources require different management techniques.
In recent years, we have made dramatic improvements in reducing flaring, but increases in fuel use due to acquisitions and new equipment have offset these emissions savings, resulting in a stable emissions profile. The expected efforts to limit climate change will have a significant impact on the energy mix over the next few decades and Woodside is adapting to these changes. These changes will bring both risk and opportunities to Woodside’s business. We are well positioned to assist in reducing climate change impacts while also providing a reliable and long term energy supply.
Find out more
about how we are adapting to the risks and opportunities of climate change.