GlobalData offers a comprehensive analysis of Woodside Energy Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Woodside Energy Group‘s ESG performance. GlobalData’s company profile on Woodside Energy Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Woodside Energy Group, an Australian oil and gas company, has set a net-zero target for its operations. The company aims to achieve net-zero emissions by 2050, with a focus on reducing scope 1, scope 2, and scope 3 emissions. Scope 1 emissions refer to direct emissions from owned or controlled sources, scope 2 emissions refer to indirect emissions from the generation of purchased electricity, heating, and cooling consumed by the company, and scope 3 emissions refer to all indirect emissions that occur in the value chain of the company. The company’s net equity for scope 1 and 2 greenhouse gas emissions totaled 4,615 kt CO2-e in 2022, which was 11% below the starting base for its targets. For scope 3 emissions (use of sold product – equity – Traded Hydrocarbons) was 4,768 kt CO₂-e in 2022. Woodside Energy Group has taken steps to reduce its emissions, including investing in renewable and lower carbon services and new energy projects.
According to its 2022 Sustainable Development Report, Woodside Energy Group has undergone a reasonable assurance engagement in accordance with Australian Standard on Assurance Engagements ASAE 3410 Assurance Engagements on Greenhouse Gas Statements (ASAE 3410) to obtain evidence about the quantification of emissions. The company has also received an independent assurance statement on its greenhouse gas statement for its Sustainable Development Report 2022.
In conclusion, Woodside Energy Group is dedicated to achieving net-zero emissions by 2050 through reducing scope 1, scope 2, and scope 3 emissions. The company's net equity for scope 1 and 2 emissions in 2022 was 11% below the starting base for its targets, and it has invested in renewable and lower carbon projects to further reduce emissions, as stated in its 2022 Sustainable Development Report.