Weatherford Releases Annual Sustainability Report

Rhea-AI Summary

Weatherford International plc (NASDAQ: WFRD) has released its annual Sustainability Report, highlighting the company's progress in environmental, social, and governance (ESG) practices. CEO Girish Saligram noted significant growth in 2023 and advancement towards their Net-Zero by 2050 goal.

The report emphasizes Weatherford's commitment to supporting customers in the energy transition through:

• Innovation
• Technology leadership
• Strategic partnerships
• Exceptional safety and quality performance

Weatherford aims to balance meeting current energy needs while preparing for future demands. The full report is available on the company's website for stakeholders to review.

News Market Reaction

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On the day this news was published, WFRD gained 4.16%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” the “Company,” “we,” “us,” and “our”) announced today the release of its annual Sustainability Report, which shares the Company’s latest advancements in environmental, social, and governance (“ESG”) practices and sustainability efforts.

Girish Saligram, President and Chief Executive Officer, commented, “In 2023, Weatherford experienced significant growth, and we continued to make progress on our sustainability initiatives, advancing our Net-Zero by 2050 goal. We remain dedicated to supporting our customers in advancing the energy transition through innovation, technology leadership, strategic partnerships, and exceptional safety and quality performance while meeting the energy needs of today and tomorrow.”

We invite you to explore the annual Sustainability Report, which is available on the Company’s website.

About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

Contacts
For Investors:
Mohammed Topiwala
Vice President, Investor Relations and M&A
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Senior Director, Communications & Employee Engagement
media@weatherford.com

FAQ

What did Weatherford (WFRD) announce on August 7, 2024?

Weatherford (WFRD) announced the release of its annual Sustainability Report, detailing the company's latest advancements in environmental, social, and governance (ESG) practices and sustainability efforts.

What is Weatherford's (WFRD) long-term sustainability goal?

Weatherford (WFRD) has set a goal to achieve Net-Zero emissions by 2050, as mentioned in their 2023 Sustainability Report.

How is Weatherford (WFRD) supporting the energy transition?

Weatherford (WFRD) is supporting the energy transition through innovation, technology leadership, strategic partnerships, and maintaining exceptional safety and quality performance.

Where can investors find Weatherford's (WFRD) 2023 Sustainability Report?

Investors can access Weatherford's (WFRD) 2023 Sustainability Report on the company's official website.

What areas of focus does Weatherford's (WFRD) Sustainability Report cover?

Weatherford's (WFRD) Sustainability Report covers the company's progress in environmental, social, and governance (ESG) practices and sustainability initiatives.