Woodside becomes signatory to COP28 Oil & Gas Decarbonisation charter

Australia’s Woodside Energy has become a signatory to the Oil & Gas Decarbonisation Charter launched at the United Nations Climate Change Conference COP28 in the UAE, it said on December 4.

The voluntary charter was launched by COP28 president Sultan Al Jaber and signed by 50 global oil and gas companies, including some that have adopted net zero 2050 targets for the first time.

Woodside said it is the only Australian signatory to the charter. The company CEO Meg O’Neill said signing the charter reinforced Woodside’s existing commitments to reducing carbon and methane emissions and to investing in the products and services customers need as they do the same.

“The COP28 Charter recognises that a differentiated approach to the energy transition is required to take advantage of the diversity of capabilities across the oil and gas sector. By signing this important industry Charter, Woodside is reaffirming its strong commitment to working with our peers to take action on climate change,” she said.

According to COP28, the charter signatory companies represent more than 40% of global oil production.