Letter from Weatherford's Sustainability Committee

Letter from Weatherford's Sustainability Committee

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MSCI 2016

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Monday, July 10, 2017 - 8:00am

CAMPAIGN: Weatherford 2016 Annual Report

CONTENT: Article

Weatherford is a global company that helps to provide energy to the world for today and tomorrow while ensuring benefits for all of our stakeholders through responsible operations, sustainable performance, world-class people, and global citizenship. We are guided by our operational principles and Code of Conduct and will operate our business of providing services to the upstream oil and gas industry in an ethical, safe, and profitable manner.

In late 2016, Weatherford launched a formal Sustainability Committee comprised of leaders from a cross-section of our organization who are committed to advancing our sustainability agenda and further weaving its values into the fabric of our organization. The Sustainability Committee reports to the Board on progress and areas that need additional support. The Board extends their full support to ongoing sustainability initiatives to ensure they are a priority for the organization. Our leaders have each dedicated time becoming familiar with the strengths and weaknesses of our sustainability program and are setting KPIs and objectives to ensure measureable progress is attained. We are pleased with the progress made in 2016, some of which is outlined in our 2016 Annual Report - Our Sustainability section, and plan to report further on our progress in 2017. Technology has, and will continue to be, a key factor in achieving our progress.

Together, we look to build upon the foundation that was set in years prior and bring an added level of structure and focus. This past year, Weatherford was honored to be included in the MSCI Global Sustainability Index as well as the Euronext Vigeo U.S. 50 Index. We were also added to the Euronext Vigeo World 120 Index which is comprised of the 120 most advanced companies in the European, North American, and Asia Pacific Regions. We remain committed to making a positive impact on our company, our people, the environment, and the industry.

Each of us brings a particular perspective to the conversation and understands the importance of a strong sustainability program. We are honored to help guide the program forward as we make material progress.

Respectfully,

- Weatherford Sustainability Committee 

See the complete Weatherford Annual Report 2016