Woodside released its full-year 2023 results this morning showing that it continues to profit from its climate-wrecking pollution.
In 2023, total emissions of Woodside’s operated projects increased 17% from 2022 levels, and a massive 78% from 2021 levels.
For the same year, Woodside increased its scope 3 emissions by 20% (60,699Kt in 2022 to 72,825Kt in 2023). Scope 3 emissions are emissions created as a consequence of the company's activities, but not produced by the company itself. For example, emissions produced from gas that is exported from WA as LNG and burnt in China, Japan or South Korea. When comparing 2023 figures to 2021, Woodside’s scope 3 emissions have almost doubled, with a staggering increase of 96%. Woodside does not have a substantial scope 3 target, despite scope 3 emissions accounting for over 90% of emissions. Woodside set an abatement target of 5 MtCO2e per annum, which accounts for just 7% of scope 3 emissions.
The emissions figures were part of Woodside’s Climate Transition Action Plan, titled “Thriving through the energy transition”.
Anna Chapman, CCWA Fossil Fuels Program Manager comments “Increasing greenhouse gas emissions at a time like this is unacceptable. Global temperatures soared in 2023, and Perth has been experiencing unprecedented heatwaves.
“Gas is not a transition fuel or a bridging fuel. The emissions from Woodside’s Burrup Hub mega gas project expansion plans, including opening the Scarborough gas field, the extension of the Northwest Shelf processing facility, and the Browse gas field, are choking WA’s energy transition. Science has repeatedly shown that to limit global warming to 1.5C, fossil fuels – including gas – must decline this decade. This means there should be no new gas developments. Yet, Woodside is allocating the majority of its capital to the development of new projects. In fact, Woodside continues to profit at the expense of our climate and environment.”
The new Climate Transition Action Plan notes that a key request from investors is for Woodside to explain future gas demand. Yet as the world ramps up decarbonisation efforts in the face of a global energy transition, the demand for gas is increasingly uncertain.
Woodside will be relying on carbon offsets for decarbonisation which have faced integrity issues. Offsets have been roundly criticised as ‘greenwash’ by climate experts for diverting attention away from actually reducing emissions and allowing existing emissions to continue or even increase.
“Woodside have highlighted their spending on carbon capture and storage. Carbon capture and storage is a mechanism to prop up the fossil fuel industry and obtain approvals from government. WA already has Chevron’s gorgon project that has failed to meet capture requirements, demonstrating the technology does not work effectively. Instead, we should prioritise actions that have an immediate and substantial impact on reducing emissions, such as investing in renewables and developing a comprehensive plan to phase out gas.” - Anna Chapman.
ENDS
MEDIA INFORMATION: The Conservation Council of WA (CCWA) is the state’s foremost nonprofit, non-government conservation organisation representing nearly 100 environmental organisations across Western Australia. For more information, visit: ccwa.org.au.
CONTACT: For any enquiries relating to this release, please call 0412 272 570