OGDC commitments

The OGDC provides discrete commitments for members to progress. Woodside’s efforts to align with OGDC commitments in 2024 are presented in the table below.

OGDC Commitments	Description	Woodside activities
Net-Zero Operations by or before 2050	Aim to reach net-zero CO₂-e emissions (Scope 1 and 2) for operations under their control and, as applicable, engage with joint operating partners towards net-zero CO₂-e emissions (Scope 1 and 2), by or before 2050.	Woodside is targeting a reduction of net equity Scope 1 and 2 greenhouse gas emissions of 15% by 2025 and 30% by 2030, with an aspiration of net zero by 2050 or sooner.¹ Refer to Our approach and our performance on the Climate page.
Aiming for Near-Zero Upstream Methane Emissions by 2030	Aim to implement the action and practices needed to achieve near-zero methane emissions by 2030 at upstream operations under their control and, as applicable, engage with joint operating partners to achieve near-zero methane emissions.	Woodside’s methane management strategy is to measure, reduce, and report methane emissions and lead the adoption of leading practices in industry and regulations. Aiming for Zero Methane Emissions Initiative.² Refer to our methane management plan on the Scope 1 and 2 GHG emissions page.
Zero Routine Flaring by 2030	Aim to implement the action and practices needed to eliminate routine flaring by 2030 on all operations under their control and leverage their influence to achieve the same in their non-operated portfolio.	Woodside joined Zero Routine Flaring by 2030 (ZRF) Initiative in 2017.³ Refer to the 2024 Climate Update for more information on emissions performance.
Continuous improvement and interim ambitions	Make public their 2030 target for Scope 1 and 2 emissions by 2025, and update that target by 2028.	Woodside net equity Scope 1 and 2 GHG targets for 2030 are public. Refer to our Net equity Scope 1 and 2 greenhouse gas emissions reduction targets on the Climate page. National governments are expected to publish their next Nationally Determined Contributions (NDCs) to the Paris Agreement during 2025, and these may contain commitments beyond 2030. These updated NDCs will be a component of the information needed to inform analysis of potential targets beyond 2030, and we expect to further consider this topic during 2025.
Implementing best practices	Aim to implement current best practices by 2030 to reduce global average emissions intensity of the oil and gas industry.	Woodside’s emissions intensities are lower than industry benchmarks. Avoiding and reducing emissions is part of our daily operation. Refer to the Avoid and reduce GHG emissions section and methane management plan on the Scope 1 and 2 GHG emissions page. Refer to our Scope 1 and 2 industry initiatives on the Scope 1 and 2 GHG emissions page. Refer to climate advocacy activities on the Climate governance page.
Transparency	Facilitate cooperation and transparency across the sector and commit to publish emissions performance annually through the OGDC platform.	In 2023, Woodside became the first Australian company to sign the Oil and Gas Decarbonization Charter.⁴
Measuring and reporting progress	Aim to measure, monitor, publicly report and independently verify GHG emissions and progress in reducing emissions, and to support continuous improvement in data quality, in accordance with internationally-recognized frameworks.	Woodside joined OGMP2.0 in January 2024 and are preparing for inaugural report submission in 2025. Refer to Methane management plan on the Scope 1 and 2 GHG emissions page.
Contributing to the energy transition	Invest in the energy system of the future, such as renewables, lower-carbon fuels, carbon capture and storage (CCS), low-carbon hydrogen, etc. contribute to achieving a net-zero economy.	Woodside has better GHG emissions life cycle intensity performance than industry benchmark due to higher weighting of natural gas in our portfolio.⁵ Refer to the 2024 Climate Update for more information on emissions performance. Refer to 2024 Annual Report for more information of how we are supporting the energy transition: New energy opportunities Projects: Lower-carbon ammonia: Beaumont New Ammonia.
Cooperation and collaboration	Facilitate cooperation between the sector and advocate, influence and share oil and gas decarbonization best practices related to ambition setting and transition planning.	Woodside actively collaborates with the industry initiatives. Refer to Scope 1 and 2 industry initiatives on the Scope 1 and 2 GHG emissions page. Refer to Scope 3 industry initiatives on the Scope 3 GHG emissions page. Refer to climate advocacy activities on the Climate governance page.
Partner with other sectors and customers	Engage with customers, policymakers, partners, other energy-intensive industries, technology and service providers and the financial sector to help accelerate the transition to a net-zero society.	Woodside actively engages with our stakeholders. Refer to our Climate-related Investor Engagement document. Refer to Scope 1 and 2 industry initiatives on the Scope 1 and 2 GHG emissions page. Refer to Scope 3 industry initiatives on the Scope 3 GHG emissions page. Refer to climate advocacy activities on the Climate governance page.