Woodside Energy Group Ltd · ASX:WDS
Woodside Energy — ESG Presentation (March 2024)
33 slides from Woodside Energy's sustainability presentation, Mar 12, 2024
Slide 1: ASX announcement: Thriving through the energy transition investor presentation
Woodside Energy Group Ltd ACN 004 898 962 Mia Yellagonga 11 Mount Street Perth WA 6000 Australia T +61 8 9348 4000 www.woodside.com ASX: WDS NYSE: WDS LSE: WDS Announcement For personal use only Tuesday, 12 March 2024 THRIVING THROUGH THE ENERGY TRANSITION INVESTOR PRESENTATION Woodside CEO Meg O’Ne
Slide 2: Contacts
Contacts: INVESTORS MEDIA Marcela Louzada Christine Forster M: +61 456 994 243 M: +61 484 112 469 E: investor@woodside.com E: christine.forster@woodside.com This announcement was approved and authorised for release by Woodside’s Disclosure Committee. For personal use only Page 2 of 2
Slide 3: Thriving through the Energy Transition: Climate Briefing Presentation
DRAFT 1 MARCH For personal use only THRIVING THROUGH THE ENERGY TRANSITION Climate Briefing Presentation 12 March 2024 www.woodside.com investor@woodside.com This presentation contains extracts of some of the key climate strategy and 2023 progress information from Woodside's Climate Transition Actio
Slide 4: Disclaimer, risks and other important information
Disclaimer, risks and other important information Climate Transition Action Plan and 2023 Progress Report net equity Scope 1 and 2 greenhouse gas emissions targets and aspiration or Woodside’s Scope 3 targets. Statements that describe the The purpose of this presentation is to enable readers to obta
Slide 5: Agenda
AGENDA Welcome Marcela Louzada, Vice President Investor Relations For personal use only Chair address Richard Goyder, Chair of the Board Presentation Meg O’Neill, CEO and Managing Director Q&A Meg O’Neill, Marcela Louzada Close Marcela Louzada 3
Slide 6: Chair address
VIDEO For personal use only Play video Chair address Richard Goyder Chair of the Board 4
Slide 7: Woodside is built to thrive through the energy transition
Woodside is built to thrive through the energy transition For personal use only Providing energy Firm conviction in sustained demand for our products and services through a high-quality portfolio, geographically advantaged to meet Geographically advantaged to meet LNG demand in Asia growing LNG dema
Slide 8: Our strategy is designed for the energy transition
See page 14 of the Climate Transition Action Plan Our strategy is designed Thrive through the energy transition for the energy transition Profit able For personal use only 1 b on Re ar si l C ie er nt Low CO2 OPTIMISE D i v e r s i f ied Low c o s t VALUE AND The world must There is no single or SHA
Slide 9: Delivering on our climate targets
See pages 6-7 of the Climate Transition Action Plan Delivering on our climate targets For personal use only Scope 1 and 2 emissions Scope 3 targets Net equity Scope 1 and Pathway to achieve our Investment target New complementary 2 emissions reduction1 aspiration of net zero equity progress3,4 emiss
Slide 10: Range of climate pathways assessed in keeping with the science
See page 45 of the Climate Transition Action Plan Range of climate pathways assessed in For personal use only Potential global use of gas in pathways that limit global warming1,2,3 keeping with the science We support the goals of the Paris Agreement IPCC included 97 pathways that can limit global wa
Slide 11: Gas can support lower emissions power
See page 46 of the Climate Transition Action Plan Gas can Fuel mix and emissions intensity of Australia’s National Electricity Market (NEM) and the South West Interconnected System (SWIS)2,3 support lower NEM SWIS emissions For personal use only South New South Western Australia Wales Queensland Vic
Slide 12: LNG supports customer and country decarbonisation goals
LNG supports 2023 total energy demand for key Asian countries1 customer and country China India Japan South Korea For personal use only decarbonisation 11% 12% 20% 17% goals 29% 28% 63% 55% 21% 17% Substituting coal for gas can help states and nations decarbonise 9% 5% 38% 38% Gas can be an attracti
Slide 13: Woodside's advantage
See pages 54-55 of the Climate Transition Action Plan Woodside’s advantage For personal use only Project Contracting Deep customer competitiveness strategy relationships • Proximity to Asian markets • Diverse and flexible marketing • Dedicated offices in Tokyo, Seoul, portfolio Beijing and Singapore
Slide 14: Assessing investment opportunity and risk
See pages 50-51 of the Climate Transition Action Plan Assessing investment opportunity and risk For personal use only Investment Cashflow scenario Potential demand attractiveness analysis impact resilience analysis Robust assessment of future Test against a range of Compare impact of opportunity Tes
Slide 15: Disciplined capital allocation
See page 49 of the Climate Transition Action Plan Disciplined capital allocation For personal use only OIL GAS NEW ENERGY OFFSHORE PIPELINE LNG DIVERSIFIED FOCUS Generate high returns to fund Leveraging infrastructure New energy products and lower diversified growth, focusing on to monetise undevelo
Slide 16: Trion final investment decision considered climate-related factors
See pages 45, 51 and 52 of the Climate Transition Action Plan Trion final investment decision considered climate-related factors Climate considerations For personal use only Expected >16% IRR and <four-year payback period, exceeding capital allocation framework targets1 1 Investment attractiveness E
Slide 17: Asset Decarbonisation
VIDEO For personal use only Play video Asset Decarbonisation Liz Westcott Executive Vice President Australian Operations 15
Slide 18: On track to meet Scope 1 and 2 net equity emissions reduction targets
See page 17 of the Climate Transition Action Plan On track to meet Scope Woodside net equity Scope 1 and 2 emissions targets 2022–20301 1 and 2 net equity emissions reduction 8 For personal use only targets1,2 Merged entity starting base1 6 11% below 2023 net equity Scope 1 and 2 emissions 12.5% sta
Slide 19: Pathway for net zero equity Scope 1 and 2 by 2050 aspiration
See pages 18-19 of the Climate Transition Action Plan Pathway for net zero Woodside net equity Scope 1 and 2 emissions 2023-2050 equity Scope 1 and 2 by 2050 aspiration1,2 8 For personal use only Merged entity ~16 Mt CO2-e savings cumulative to 2050 have been 6 starting base3 incorporated in design
Slide 20: High-quality carbon credit portfolio
See section 3.4 on page 30 of the Climate Transition Action Plan High-quality carbon credit portfolio For personal use only Woodside’s integrity assessment for carbon credits1 Abatement is High Accurate Environmental demonstrably likelihood of quantification and social additional permanence of abate
Slide 21: New Energy Opportunities
VIDEO For personal use only Play video New Energy Opportunities Shaun Gregory Executive Vice President New Energy 19
Slide 22: Hydrogen portfolio designed to help customers reduce emissions
See page 37 of the Climate Transition Action Plan Hydrogen portfolio designed to help customers reduce emissions Hydrogen Refueller @ H2OK H2Perth H2Perth For personal use only Commercial scale. Opportunity1 Hydrogen production, Low carbon hydrogen demand outlook (Mtpa)7 Commercial scale. Hydrogen a
Slide 23: CCS portfolio designed to help customers reduce emissions
See page 39 of the Climate Transition Action Plan CCS portfolio designed to help customers reduce emissions South East Australia CCS Angel CCS (Non-operated) For personal use only CCS capacity outlook (Mtpa)3,4 Status Target Opportunity1 Large-scale multi-user CCS hub Multi-phased CCS project with t
Slide 24: Scope 3 targets to track progress and impact
See page 34 of the Climate Transition Action Plan Scope 3 targets to track progress and impact For personal use only Scope 3 targets Existing New complementary 2023 progress investment target1,2 emissions abatement update target1,2 H2OK electrolyser Investment in new Take FID on new Cumulative total
Slide 25: Listening and acting: Response to investor feedback
See page 9 of the Climate Transition Action Plan Listening and acting Response to investor feedback For personal use only Updated content in the Climate Transition Action Plan and 2023 Progress Report relative to the Woodside Climate Report 2022 includes the items below: Targets and Woodside’s plans
Slide 26: Accountability
See page 12 of the Climate Transition Action Plan Accountability Executive Leadership Scorecard drives 30% Individual performance For personal use only metrics VARIABLE 70% ANNUAL Company REWARD metrics Changes to Board composition and Committees Executive team’s performance-based pay 15% Climate me
Slide 27: Our business is built to thrive through the energy transition
Our business is built to thrive through the energy transition For personal use only Providing energy through a high-quality portfolio, geographically advantaged to meet growing LNG demand1 Strong demand for our products backed by customer action Creating and returning value Developing new energy pro
Slide 28: Footnotes
Footnotes Slide 5 1. Global LNG demand is forecast to grow 53% to 2033, supported by Europe, China and emerging Asia. Base case scenario. Wood Mackenzie Global Gas Investment Horizon Outlook, October 2023. 2. Targets and aspiration are for net equity Scope 1 and 2 greenhouse gas emissions relative t
Slide 29: Footnotes
Footnotes Slide 11 1. Scarborough sell-down to LNG Japan is subject to completion of the transaction, targeted in the first quarter of 2024. 2. Scarborough sell-down to JERA is subject to completion of the transaction, targeted for the second half of 2024. The sale and purchase agreement is with JER
Slide 30: Footnotes
Footnotes Slide 18 1. Informed by standards such as the Integrity Council on the Voluntary Carbon Market (ICVCM) Core Carbon Principles. https://icvcm.org/the-core-carbon-principles For personal use only Slide 20 1. Proposed opportunities are subject to commercial arrangements, commercial feasibilit
Slide 31: Glossary
Glossary $, $m, $B US dollar unless otherwise stated, millions of dollars, billions of dollars For personal use only A$, AUD Australian dollar EJ Exajoule Woodside uses this term to describe an aspiration to seek the achievement of an outcome but Emissions Emissions refers to emissions of greenhouse
Slide 32: Glossary
Glossary Mtpa Million tonnes per annum Other indirect GHG emissions. Scope 3 is a reporting category that allows for the treatment of all other indirect emissions. Scope 3 emissions are a consequence of the activities of the company, but For personal use only Net equity greenhouse gas Woodside’s equ
Slide 33: Head Office
Head Office: For personal use only Woodside Energy Group Ltd Mia Yellagonga 11 Mount Street Perth WA 6000 Postal Address: GPO Box D188 Perth WA 6840 Australia T: +61 8 9348 4000 F: +61 8 9214 2777 E: companyinfo@woodside.com Woodside Energy Group Ltd ABN 55 004 898 962 woodside.com 31
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