OGDC commitments
In 2023, Woodside became the first Australian company to sign the Oil & Gas Decarbonization Charter (OGDC).1 During COP28, the COP28 presidency and the Kingdom of Saudi Arabia announced 50 oil and gas companies had joined the Charter, a global industry initiative dedicated to high-scale impact, and accelerating climate action within the industry. Signatories to the Charter aim to achieve net-zero operations by or before 2050, near-zero upstream methane emissions and zero routine flaring by 2030, and transparent disclosure of 2030 Scope 1 and 2 emissions ambitions.
| 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 has achieved its 2025 target reduction of 15% net equity Scope 1 and 2 greenhouse gas emissions.2,3,4 Woodside is targeting a reduction of net equity Scope 1 and 2 greenhouse gas emissions of 30% by 2030, with an aspiration of net zero by 2050 or sooner.3,5 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.6 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 2017.7 Refer to “Our Performance" on the Climate page 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. During late 2025 many national governments including Australia updated their Nationally Determined Contributions (NDCs) to the Paris Agreement, to include targets for 2035 or later. These updated NDCs and associated policy implementation measures such as the Australian SGM are being reviewed by Woodside for their potential impact on our own climate plans, including whether any additional targets in excess of regulatory requirements are suitable, and if so what form they might take. This review is expected to continue into 2026. |
| 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 'Reducing net equity Scope 1 and 2 GHG emissions' section and 'methane management' on our Scope 1 and 2 GHG emissions page. Refer to our Scope 1 and 2 industry initiatives on our Scope 1 and 2 GHG emissions page. Refer to '2025 climate-related advocacy' on the Climate governance page. |
| Transparency | Facilitate cooperation and transparency across the sector and commit to publish emissions performance annually through the OGDC annual report. | In 2023, Woodside became the first Australian company to sign the Oil and Gas Decarbonization Charter.8 We have shared emissions performance data with OGDC - Refer to our 2025 Climate and Sustainability Summary for more information on emissions performance. |
| 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-recognised frameworks. | In 2025, Woodside submitted its inaugural report to OGMP2.0, the UN Environment Programme’s flagship oil and gas methane mitigation and measurement programme. Woodside’s OGMP2.0 Implementation Plan was also awarded ‘gold standard’ pathway by the UN Environment Program. Refer to 'methane management' on our 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 the industry benchmark due to higher weighting of natural gas in our portfolio. Refer to the 2025 Climate and Sustainability Summary for more information on emissions performance. Refer to the 2025 Annual Report for more information on 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 decarbonisation best practices related to ambition setting and transition planning. | Woodside actively collaborates with industry initiatives. Refer to our 2025 Climate and Sustainability Summary for more information on our stakeholder engagements. Refer to 'Scope 1 and 2 industry initiative' on our Scope 1 and 2 GHG emissions page. Refer to Scope 3 industry on our Scope 3 GHG emissions 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 and Sustainability Summary. Refer to 'Scope 1 and 2 industry initiative' on our Scope 1 and 2 GHG emissions page. Refer to Scope 3 industry on our Scope 3 GHG emissions page. Refer to '2025 climate-related advocacy' on the Climate governance page. |