Sustainability

Committed to safe, ethical, and sustainable practices

Our commitment to sustainability is a core value at Weatherford and we recognize that our actions today have an impact on the future for our stakeholders, community, and environment. We take this responsibility seriously and we are committed to making progress on our goals each year, some of which are captured below.

Our sustainability program is comprised of four pillars—sustainable performance, responsible operations, world-class people, and global citizenship. Each pillar incorporates relevant environmental, social, and governance (ESG) issues which are managed through a series of dedicated policies, standards, procedures, and practices.

Summary of 2018 goals

Achieved
In progress

Sustainable Performance

We continually evaluate our practices to identify areas for improvement.

Last year, we significantly reduced water, waste, and electricity use following the introduction of an annual Facility Environmental Improvement Plan which requires each facility to identify and implement reduction opportunities. These are primarily identified during Environment Month when locations perform an ‘opportunities hunt’ to identify areas for improvement and formalize a plan of activities they will implement to make these a reality. Implementation is tracked on a quarterly basis.

6% reduction in total electricity use*
5% reduction in total water use*
5-15% reduction depending on 2017 spill incident rate
3% reduction in hazardous waste produced*
3% reduction in non-hazardous waste produced*
Our target for the year is as follows: TRIR: 0.34
Our target for the year is as follows: LTIR: 0.07
Our target for the year is as follows: PVIR: 0.23
Our target for the year is a 10% reduction in NPT YoY

* normalized to revenue

Responsible Operations

We look for ways to do things smarter, safer, better – the right way, the first time, and always.

We do this by operating ethically and transparently across all facets of our work and in unison with our suppliers and customers, keeping our Code of Business Conduct top of mind with our employees and suppliers, and promoting a culture where people are empowered to come forward and share concerns.

Formally define elements of our Company’s culture of integrity and launch employee awareness campaign regarding same
Launch revised Supplier Code of Conduct including enhanced supplier obligations regarding human rights and other matters
Develop training for the Weatherford Supply Chain team and others in the organization regarding the risks of modern slavery and our commitment to eradicating the same in our supply chain
Survey our operations and implement controls to ensure that proof of age and proof of payment are uniform requirements globally
Issue Disruptive Event Management Standard, triggering formation of Disruptive Event Management Teams in each of Weatherford’s 14 geozones, responsible for identifying risks through workshops, preparing responses to scenarios or incidents that could befall the company

World-Class People

We have some of the best people in the industry and we are committed to ensuring they feel appreciated and valued.

Fostering diversity and inclusion are top priorities for us. In fact, our employees represent more than 114 nationalities in approximately 80 countries. One step we have taken to support inclusion is creating various diverse and inclusive groups, including the Young Professionals, GLOW (Gay, Lesbian + of One Weatherford), Veterans, and Women of Weatherford networks. These programs help to provide employees with an environment where they feel comfortable, respected, and can thrive. By providing an environment that celebrates diversity across all facets of life, we aim to bring the best out of our employees, further our own goals, and even improve our rapport with customers.

Drive support for our Networks and establish new ones desired by our employee base
Implement advancements to our recruitment process inclusive of blind resume review to tackle biases in hiring. Issue Diversity and Inclusion training on bias – conscious and unconscious – so that we raise our enterprise culture bar to ensure respect and inclusivity always and for everyone

Global Citizenship

We are committed to enriching the communities in which we live and work by engaging with local communities, volunteering our time, and donating much needed resources.

Our employees are passionate about their work and about making a difference. We encourage them to participate in causes they feel strongly about and offer them opportunities to engage.

Issue Charitable Giving Standard to all employees, triggering employees to record charitable giving and sponsorship requests in a central portal. Ultimately, this will provide the Company greater visibility into our spend and ensure alignment with Company goals.