Woodside claims its emissions are falling – but only by using the ‘last resort’ of offsets

Woodside, Australia's biggest oil and gas company, says its emissions were down 11% but without offsets they went up 3.5%. Photograph: David Gray/Reuters

Australia’s biggest oil and gas company, Woodside, came out with its annual climate change report this week.

“Woodside aims to thrive through the energy transition by building a low-cost, lower-carbon, profitable, resilient and diversified portfolio,” the company said, while also reporting an eye-watering $7.7bn profit for 2022.