52 Woodside Petroleum Ltd|Annual Report 2018
Working sustainably is one of our core values
and ensures we are here for the long term.
We look after each other, our communities and
the environment. This value is embedded at every
level within our organisation and is fundamental
to realising our vision to be a global leader in
upstream oil and gas.
These themes are underpinned by our sustainability principles
which provide the foundation for ensuring we operate in a
+ Creating shared value: We believe there is shared
value for our business and the communities in which we
operate in the co-creation of opportunities in education,
employment and enterprise.
+ Operating with transparency and integrity: We are open,
honest and fair and we have the courage to do what’s right,
balancing short- and long-term interests.
+ Building a resilient business: We are committed to
supporting a sustainable energy future.
+ Operating safely and responsibly: Eective risk
management is essential to ensuring that we are best
positioned to prevent and respond to any incidents that
have the ability to impact our people, our communities and
+ Fostering the organisation and culture: We focus on having
a values-led, high-performance culture.
Sustainable Development Report
The Sustainable Development Report 2018 provides a complete
overview of our sustainability performance and outlines our
approach to addressing our material sustainability topics.
Woodside considers sustainability topics to be material if they
have a signiﬁcant economic, environmental and social impact,
or if they substantively inﬂuence the assessments and decisions
of our stakeholders. In 2018, our material topics include climate
change and greenhouse gas emissions; social and cultural
impacts on communities; health and safety; and fraud, anti-
bribery and corruption.
Woodside’s sustainability performance is linked to
remuneration for employees and executives, and is measured
through metrics within our corporate scorecard. We also
measure our performance against our material topics with
More information on how we engage with our stakeholders,
as well as our approach to material topics and our overall
sustainability performance, can be found in our Sustainable
Development Report 2018, released in March 2019.
Taxes and royalties
paid in Australia
per million work hours
1. Approximately US$668 million equivalent.
2. Approximately US$12.7 million equivalent.
3. Against baseline performance, which is measured relative to product energy eciency prior to 2016.