ACCR Company Engagement Woodside Energy Ltd

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.

Updates

  1. Santos and Woodside

    Woodside walloped on climate as it doubles down on fossil fuels with approved merger

    At 48.97% against, Woodside has surpassed Santos (36.93% against) as the company with the lowest level of shareholder support for a transition plan since the inception of the Say on Climate mechanism.

  2. Briefing note

    ACCR questions for Ernst and Young as the auditor of the Woodside Petroleum Limited’s 2021 financial statements

    As Woodside Petroleum Limited’s (ASX:WPL) auditor, Ernst and Young has a duty to ensure WPL’s financial statements are true and fair.

  3. Research

    Investor briefing: Shareholder Resolutions to Woodside Petroleum Ltd on climate-related lobbying and decommissioning

    Supporting brief to our shareholder resolutions to Woodside Petroleum Ltd on climate-related lobbying and decommissioning.

  4. Research

    Woodside Petroleum Ltd: Assessment of 2021 Climate Report

    It is ACCR’s view that there is sufficient reason to vote against the approval of Woodside’s 2021 Climate Report.

  5. Media release

    Woodside’s Scope 3 plan is a joke

    ACCR is commenting on Woodside Petroleum’s (ASX:WPL) 2021 Climate Report, including its plan for Scope 3 emissions.

  6. Shareholder Resolution

    ACCR Shareholder Resolutions to Woodside Petroleum Ltd on climate-related lobbying & decommissioning

    The Australasian Centre for Corporate Responsibility (ACCR) has filed shareholder resolutions asking Woodside (ASX:WPL) to cease advocacy of its industry associations and disclose decommissioning liabilities.

  7. Santos and Woodside

    ACCR demands more transparency on decommissioning, calls for an end to pro-oil & gas lobbying

    ACCR has filed shareholder resolutions with Santos Limited (ASX:STO) and Woodside Petroleum Ltd (ASX:WPL), calling on both companies to improve their disclosures on decommissioning liabilities, and to cease direct and indirect advocacy for oil and gas expansion.

  8. Media release

    ACCR demands more transparency on decommissioning, calls for an end to pro-oil & gas lobbying

    ACCR has filed shareholder resolutions with Santos Limited (ASX:STO) and Woodside Petroleum Ltd (ASX:WPL), calling on both companies to improve their disclosures on decommissioning liabilities, and to cease direct and indirect advocacy for oil and gas expansion.

  9. Media release

    ACCR welcomes Woodside withdrawal from Myanmar

    ACCR welcomes the withdrawal of Woodside (ASX:WPL) from Myanmar which was announced by the company today.

  10. Media release

    Woodside’s debt dressed up as equity in climate-wrecking project

    ACCR commenting on Woodside Petroleum’s (ASX:WPL) announcement that it has reached a final investment decision (FID) on Scarborough and Pluto Train 2 developments.

  11. Media release

    Woodside ignores COP26, accelerates emissions growth

    ACCR commenting on Woodside Petroleum’s (ASX:WPL) sale of a 49% share in Pluto Train 2 Joint Venture to Global Infrastructure Partners (GIP).

  12. Media release

    BHP climate plan a greenwash

    This vote suggests institutional investors are easily cowed by big companies like BHP and they’re unwilling to force them to adhere to the Paris Agreement.

  13. Media release

    BHP offloads coal assets to a climate laggard

    ACCR is commenting on BHP’s divestment of 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd.

  14. Media release

    BHP shareholders support coal mining beyond 2050

    Despite its claims of climate leadership, BHP’s climate plan isn’t even close to what is required to prevent runaway climate change.

  15. Media release

    BHP must end support for fossil fuel expansion

    ACCR welcomes BHP’s support for the shareholder resolution on climate-related lobbying. BHP must use its unique position of leadership to push for more ambitious emissions reductions before 2030.

  16. Media release

    BHP-Woodside merger a disaster for shareholders and climate

    Commenting on the sale of BHP’s Petroleum division (ASX:BHP) to Woodside Petroleum (ASX:WPL).

  17. Media release

    Woodside claims to be reducing emissions by increasing emissions

    Woodside’s targets do not address the much larger issue of Scope 3 emissions, ignoring the demands of half of its shareholders to take responsibility for the emissions from the gas it sells.

  18. Media release

    Woodside and BHP Scarborough project conflicts with a net zero future

    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.

  19. Media release

    New Woodside CEO must be allowed to determine new growth strategy

    “The board has made the right decision to move Peter Coleman on, allowing the new CEO the clear air to determine a new strategy less focused on growing gas production."

  20. Media release

    Woodside adopts ‘Say on Climate’

    We welcome the move by Woodside Petroleum (ASX:WPL) to adopt the Say on Climate initiative and provide shareholders with a non-binding vote on the company’s Climate Change Report at next year’s AGM.

  21. Briefing note

    Investor briefing: Shareholder Resolutions to Woodside Petroleum Ltd to adopt Say on Climate reporting

    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.

  22. Media release

    Say on Climate launches with resolutions to Santos and Woodside

    “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.”

  23. Shareholder Resolution

    ACCR Shareholder Resolutions to Woodside Petroleum Ltd to adopt Say on Climate reporting

    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.

  24. Media release

    Woodside climate targets: uninspiring business as usual

    Woodside’s newly announced climate targets are a disappointment to the investor community, demonstrating that the existing Board and Executive are simply not capable of delivering a transition consistent with limiting global warming to well below 2 degrees celsius.