Thriving Through the Energy Transition Investor Presentation

PERTH, Australia--(BUSINESS WIRE)--Woodside CEO Meg O’Neill will brief investors on Woodside’s Climate Transition Action Plan (CTAP) and 2023 Progress Report today at 09:30 AEDT / 06:30 AWST / U.S. 17:30 CDT (Monday, 11 March 2024). The CTAP was released on 27 February 2024.

A live webcast of the briefing will be available at https://webcast.openbriefing.com/wds-march-update-2024/, and a presentation will be available at www.woodside.com.

Ms O’Neill said the CTAP contained additional information, requested by investors, about Woodside’s approach to climate change and the energy transition. This includes further detail on Woodside’s potential pathway to net zero Scope 1 and 2 net equity emissions by 2050, and the introduction of a new Scope 3 target to take final investment decisions for 5 million tonnes of CO₂ equivalent abatement capacity per annum. This complements the existing target to invest $5 billion, in new energy products and lower carbon services by 2030.

“I firmly believe Woodside is built to thrive through the energy transition and our Climate Transition Action Plan shows how we plan to achieve this. Our climate strategy is integrated throughout our corporate strategy as we provide the energy our customers need today and into a lower carbon future, create and return value to shareholders, and conduct our business sustainably.

“We have engaged extensively and listened carefully to feedback from our shareholders, who have asked for more detailed information about our climate action plans and the role of gas in a lower carbon world.

“Our Climate Transition Action Plan delivers on this feedback, outlining Woodside’s confidence in a sustained role for natural gas through the energy transition, while providing additional information on our plans and progress to reduce net equity Scope 1 and 2 emissions and to invest in new energy products and lower carbon services for the transition.”

Woodside’s CTAP will be put to an advisory vote of shareholders at the company’s 2024 Annual General Meeting to be held on 24 April 2024 at 12:00 AEST / 10:00 AWST / 21:00 CDT (Tuesday, 23 April 2024).

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.