Materiality Assessment
Materiality Assessment
Williams identified the ESG topics discussed in our sustainability report through a double materiality assessment conducted in late 2024 and early 2025. Please note that ESG materiality, as discussed here, is specific to this report and is not synonymous with the definition of materiality applied by the U.S. SEC. Our reports and other documents filed with the SEC adhere to the SEC’s rules and standards, which differ from the standards, goals and disclosures outlined in this sustainability report.
We engaged internal and external stakeholders to prioritize ESG topics. This process applied the GRI stakeholder inclusiveness and materiality principles, including GRI’s definition of “material” topics, defined as topics “that reflect the organization’s most significant impacts on the economy, environment and people, including impacts on human rights.”
Our process began with in-depth research of our current ESG landscape, including relevant industry and global sustainability trends, which was conducted to refine a list of potentially material ESG topics. We also revisited and refreshed our understanding of our full value chain based on recent changes to our business. We then conducted a stakeholder engagement phase where key internal and external stakeholders were interviewed to identify and assess each topic’s impact on Williams, as well as Williams’ impact on the environment, people and the economy. This allowed us to prioritize topics based on the significance of impacts, risks and opportunities as perceived by Williams’ stakeholders. The ESG topics were then scored and ranked based on this analysis, producing a final, refined list of ESG material topics. The results of this assessment were validated by Williams senior management and board members.
In our sustainability report, we refer to ESG “material topics” as the 11 topics ranked highest during our materiality assessment; we also discuss a variety of additional topics that are also important to Williams and our stakeholders.
Williams’ Material Topics
| Material Topic | Description | Key Stakeholders |
| Energy Access, Affordability & Reliability | Williams’ ability to meet the demand for affordable, reliable natural gas domestically and globally. Includes maintaining dependable service and minimizing customer impacts. Development of expansion projects to deliver additional volumes of natural gas to areas of growing domestic demand. Providing access to affordable natural gas, which can positively impact local economies and improve living standards by providing a clean and reliable source of energy for residential, commercial, and power-generating uses, and provide reliability as a backup energy source as the world shifts to more renewable energy. | Company leaders; Regulators; Customers; Board of Directors; Industry associations |
| Public Policy & Perception | Public policy outreach and political engagement, including educating public officials and other stakeholders around the benefits of natural gas development in the United States. Participating in industry associations to exchange best practices, develop industry standards, and influence the development of energy policy. Includes the effect that evolving federal, state, and local legislative and regulatory developments have on Williams’ ability to maximize its existing operations and expand its asset network (e.g., barriers in the permitting process). Transparency and practices related to payments to governments and political contributions. The effect that changes in public perception of Williams or natural gas have on Williams, including stakeholder concerns around greenwashing or anti-ESG sentiment. | Board of directors; Company leaders; Customers; Regulators; Communities; Investors |
| Pipeline & Asset Integrity | The integrity of Williams’ pipeline systems and assets and the effect that this has on both Williams’ business and the environment. Includes upholding the integrity of pipeline systems through effective controls and digital monitoring systems such as LiDAR and aerial inspections to the uncontrolled release of hydrocarbons and hazardous substances at Williams’ facilities. Managing releases, including Loss of Primary Containment (LOPC) events from Williams’ operations through operating practices and compliance with regulations. Implementing processes, procedures, and equipment to prevent the uncontrolled release of hydrocarbons and hazardous substances at Williams facilities. | Customers; Board of directors; Company leaders; Investors; Industry associations; Communities |
| Operational Greenhouse Gas Emissions | Scope 1 and Scope 2 greenhouse gas emissions generated from Williams’ operations and purchased energy. Includes the impacts generated by these emissions on the environment and Williams’ approach to reducing Scope 1 and Scope 2 greenhouse gas emissions from operations by enhancing operational efficiency, reducing energy use, and increasing renewable energy use to power operations. Includes a focus on reducing fugitive methane emissions associated with natural gas transport and risks related to methane fees. | Regulators; Industry associations; Investors; Board of Directors; Company leaders; Customers |
| Public Safety | The threat that accidents occurring with Williams’ pipelines and assets could have on the safety of surrounding communities. Includes emergency preparedness and educating the public on steps to prevent and respond safely to a pipeline emergency or critical incident. Providing public awareness initiatives to prevent accidental damage or unintended contact with pipelines and equipment associated with Williams’ facilities and operations. Includes other disturbances caused by Williams’ activities, such as vehicle use, construction, and maintenance. | Board of directors; Investors; Communities; Company leaders; Industry associations; Customers |
| Employee Attraction, Retention & Development | The effect recruiting, hiring, developing, and retaining talent has on Williams’ business success and employee career advancement. Includes Williams’ approach to attracting and retaining employees by offering competitive compensation and benefits, developing a robust talent pipeline, and promoting employee engagement through remote working policies, flexible work hours, etc. Providing training and growth opportunities, including regular performance reviews, leadership development programs, and employee resource groups. Includes employment security, layoffs, and responsible workforce restructuring. | Board of directors; Company leaders; Investors; Communities; Industry associations |
| Transition to a Lower Carbon Economy | Williams’ strategy in relation to the transition to a low-carbon economy. Transition risks related to climate change mitigation, including the effects that alternative fuel sources, technological advances, and renewable energy sources could have in reducing demand for natural gas. Supporting the reduction of Scope 3 greenhouse gas emissions in Williams’ value chain and global energy value chain, including emissions associated with consumer use of products and procurement of materials and services. Williams’ contributions to the low-carbon economy by deploying new technologies and decarbonization projects, including NextGen Gas; carbon capture, utilization & storage (CCUS); renewable natural gas; and hydrogen. | Company leaders; Board of directors; Customers; Industry associations; Regulators; Communities; Investors |
| Cybersecurity | The threat posed by cybersecurity to Williams’ business, systems, and reputation, as well as the impact cybersecurity incidents have on customers, energy users, and national security. Includes managing the evolving risks of cyberattacks on Williams’ assets and business-critical information and protecting data privacy through policies, training programs, audits, and risk assessments. Safeguarding technology critical to providing services for Williams’ customers and protecting business-sensitive and personal information that is entrusted to the company. | Board of directors; Company leaders; Regulators; Industry associations |
| Stakeholder Relations | Facilitating open and informed dialogue and working to build constructive relationships with Williams’ diverse stakeholder groups, recognizing the expectations of those groups. Includes cultivating and maintaining positive relations with local communities where Williams operates through town halls, language interpretation, key partnerships, grievance mechanisms, and transparent communications. Managing customer experience and satisfaction. Maintaining successful partnerships with landowners that grant Williams permanent easements by engaging in proactive communication, providing reasonable financial compensation, and respectfully operating on private property. | Regulators; Customers; Company leaders; Board of directors; Industry associations; Communities |
| Workforce Safety | The safety of Williams’ employees and contractors while working at operational sites and facilities, including motor vehicle safety. Includes designing and operating Williams’ facilities and systems to proactively manage process safety risks while complying with all applicable regulations, industry standards, and operating principles. Providing employees and contractors with health and safety education, training, and the tools needed to do their job safely. Prioritizing and promoting a robust safety culture. Utilizing automation and AI to aid workers with identifying hazards, aid leaders in interpreting risk areas, and support their teams’ safety. | Board of directors; Company leaders; Investors; Customers |
| Community Investment | The effect Williams has on communities through corporate giving, volunteerism, partnerships with organizations, education, and other investments in the areas where Williams operates and employees live. Also includes the reputational benefits received by Williams from conducting such activities. | Communities; Company leaders; NGOs/Thought leaders; Industry associations; Investors |