Woodside derives value from membership of peak industry organisations that play multiple roles: setting technical standards, sharing best practice, facilitating stakeholder engagement and giving members a forum for policy discussion.
The vital role that these groups can play was evident during and after the devastating Australian bushfire season of 2019-20 and during the unfolding COVID-19 pandemic, with peak organisations rallying response and relief efforts and coordinating industry actions to support economic stability, including BCA’s BizRebuild bushfire support and CMEWA COVID-19 Community Support Initiative. During the COVID-19 pandemic, industry associations have provided an interface between government and industry, facilitating a joint effort to minimise risk to Australia from health and economic crises.
Woodside’s oversight and governance of memberships include an approval process for new memberships, continuous monitoring of their positions and regular review of how they align with Woodside’s objectives, policies and principles, including our Climate Change Policy.
Internal Company deliberations on the merits of memberships take into account the full range of issues covered by these organisations and the multiple roles they play.
These organisations do not represent the views of any individual member. Woodside has one voice amongst many in these groups and, as such, seeks to influence their positions on a range of policy issues including their planned advocacy activities. This influence can be exercised at working group level or through senior representation on an association’s board or governing body.
In joining an association, we consider whether the association’s views are aligned with Woodside’s policies and objectives, applying an approval framework that is outlined in the company’s management processes.
A regular review of memberships is overseen by an Executive Steering Group, made up of the most senior representatives from Corporate Affairs, Investor Relations, Legal and Environment.
This Steering Group meets at least twice a year to monitor alignment, which involves considering the public statements made by each relevant association, relevant media reports and our own understanding of an association’s positioning, and comparing this to Woodside’s policies and objectives.
Woodside makes its own views known through its own public statements and will not always be in lockstep with every view articulated by industry associations that the company belongs to. In the event that divergence is identified, the Steering Group considers the significance of the issue and what scope Woodside has to influence the organisation through constructive engagement. Divergence on some issues may be outweighed by the benefits of membership but if there were a material difference that could not be addressed, Woodside would assess whether the membership should continue.
Woodside’s membership of associations is also reviewed by the CEO and the Board annually.
We are broadly aligned with the views of the associations of which we are a member. Significant memberships are identified on this page.
It is Woodside’s intention to publish a summary of findings of its 2020 industry association review by November 2020. In reviewing alignment with industry associations, consideration is given to how their stated views and their advocacy align with the following climate policy positions:
- Support for Paris Agreement and global net zero aspiration by 2050.
- Support for appropriate protection to manage the social and economic costs of transition.
- Support for lower emissions technologies and other pathways to reducing/offsetting emissions.
These climate policy positions also inform Woodside’s direct advocacy, as reflected in executive speeches, interviews and announcements.