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Shareholders target Woodside over climate credentials

Climate activists, pension funds and governance groups will try to unseat three directors at Woodside at its annual general meeting in Perth today as opposition intensifies over the oil and gas company’s plans to increase fossil fuel production.

We believe that Woodside has a significant role to play in the energy transition. Assessing and approving Woodside’s climate strategy is a key role of the board.”

The company, headed by Meg O’Neill, has long argued that developing new supply is necessary to keeping “energy affordable and reliable as Australia transitions to a lower carbon future”.

“Woodside has thumbed its nose at shareholders, responding to last year’s world record rejection of its climate plan by doubling down on gas expansion that will cause massive real-world emissions growth.”