Woodside scraps long-term emissions and clean energy targets despite windfall oil profits caused by Iran war
Australian oil and gas giant Woodside has scrapped its long-term clean energy and emissions targets, citing a shift in market context. The decision follows a period of record profits driven by global supply disruptions caused by the Iran conflict.
Why it matters
The move highlights the tension between corporate profitability in fossil fuels and global commitments to decarbonization during geopolitical instability.
Woodside said it would drop its commitment to invest $US5bn in new energy products, such as hydrogen, by 2030. Woodside said it would drop its commitment to invest $US5bn in new energy products, such as hydrogen, by 2030. Woodside Woodside scraps long-term emissions and clean energy targets despite windfall oil profits caused by Iran war Australia’s biggest oil and gas company recorded a 27% increase in sales profit to $1.67bn in the six-month reporting period
Follow our Australia news live blog for latest updates
Get our breaking news email , free app or daily news podcast
Prefer the Guardian on Google Woodside Energy has scrapped its long-term emissions and clean energy targets, even after enjoying a period of windfall oil profits caused by the Iran conflict.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in