Woodside Energy Group Ltd is a major oil and gas company, with operations across Australia and abroad.
Woodside Energy Group Ltd (ASX:WDS), formerly Woodside Petroleum Limited, is the largest listed oil and gas company on the ASX.
ACCR has been engaging with Woodside for several years on its climate change commitments, decommissioning liabilities and its direct and indirect advocacy that conflicts with the goals of the Paris Agreement. At Woodside's 2022 AGM, 48.97% of the company's shareholders voted against its climate transition plan, after Woodside agreed to put it to an advisory 'Say on Climate' vote. At that same AGM, Woodside finalised its merger with BHP Petroleum.
Along with institutional investors Vision Super and Betashares, ACCR co-filed members’ statements with Woodside Energy Group in 2023, calling on directors to be held to account for the board’s repeated failure to present a credible climate strategy - a failure that raises genuine governance concerns.
This is the first time institutional investors have sought to bring climate accountability to board level by using members’ statements to dissent on a resolution for the re-election of directors at an ASX100 company.
A record-breaking vote was recorded against long-standing director Ian MacFarlane, and significant votes were cast against the two other directors standing for re-election.
34.81% against Ian Macfarlane; 13.43% against Larry Archibald; and 10% against Swee Chen Goh.
Webinar to discuss the members' statement against the re-election of the Chair, Richard Goyder and our analysis of the 2023 Climate Action Transition Plan.
With persistent investor discontent over the company’s sub-optimum approach to climate risk, Woodside’s board faces a crucial test as the company’s 2023 Climate Plan is delivered.
Whilst the confirmation of early stage discussions between Woodside and Santos has seen an explosion of commentary and speculation, it is important that cool heads prevail and to acknowledge that there are significant headwinds against a deal.
The failure of the Australian LNG industry to deliver shareholder value requires scrutiny from investors as the industry seeks to progress new projects.
Recent lobbying by the oil and gas industry claiming Australia’s offshore oil and gas regulation system is “broken” is a distraction from company failings and a threat to First Nations’ rights to consultation.
Woodside (ASX:WDS) is a company that doesn’t listen, led by a board that lacks the agility and skill-set to properly confront the risks and opportunities of the energy transition.
New ACCR research found significant gaps between what companies commit to on the topic of climate lobbying, and what governance and disclosure they implement
ACCR is commenting on Woodside Energy Group’s (ASX:WDS) announcement that the Trion deepwater project in the Gulf of Mexico has received regulatory approval from the Mexican regulator
ACCR is commenting on Woodside Energy Group’s (ASX: WDS) announcement that it has made a final investment decision (FID) on the Trion greenfield oil development in the Gulf of Mexico.
ACCR is commenting on Woodside Energy Group exclusively notifying some investors of an intention to provide shareholders with a non-binding advisory vote on its climate plan in 2024
A coalition have co-filed members’ statements with Woodside Energy Group (ASX:WDS), calling on directors to be held to account for the board’s repeated failure to present a credible climate strategy.
The ACCR is commenting on Woodside’s 2022 Climate Report released today. This report follows the dismal Say on Climate vote at Woodside’s AGM last year, where 49% of Woodside shareholders voted against the company’s 2021 Climate Report.
In the face of escalating climate threats, the WA EPA has buried its head in the sand and recommended that Woodside (ASX:WDS) be licensed to unlock this carbon bomb out to 2070.
The Woodside and BHP Scarborough project is at odds with the expectations of investors for companies to align their capital expenditure and decarbonisation strategies with the Paris Agreement.
An annual Say on Climate will provide shareholders with a non-binding advisory vote on Woodside's plan to reduce emissions and its performance against that plan.
ACCR has filed Shareholder Resolutions to Woodside Petroleum (ASX: WPL) asking for an annual vote on the adoption of a Climate Report consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the Climate Action 100+ Net-Zero Company Benchmark as developed by institutional investors.
“The Say on Climate framework will provide shareholders with the opportunity to send a clear signal to the board about whether the company is effectively managing the risks of climate change.”
BHP, Origin Energy, Santos and Woodside are behind efforts to dirty up the Clean Energy Finance Corporation (CEFC) by allowing it to invest in gas projects.
