Australia's biggest emitters urged to act on climate with 'death and taxes' not the only certainties in life
"Shareholders have told us that they would like to understand more about how we plan to reduce emissions from our operations, and about how we manage our use of carbon credit appropriately.
"Much of this report is similar to our Climate Report 2021 because our understanding and strategy remains consistent."That lack of a significant shift after the shareholder vote surprised the Australasian Centre for Corporate Responsibility , a shareholder advocacy group calling on companies to do more on climate.
"For Woodside's portfolio, about 90 per cent of their emissions are scope three, so to set targets that exclude scope three is to ignore 90 per cent of the problem," Mr Hillman said.In its report, Woodside said while it was working to reduce scope three emissions by offering new fuels, like hydrogen and ammonia, "inconsistent reporting regimes" made it difficult to accurately track those emissions.
Woodside is also among the companies which could have its membership rights of a major industry group restricted, over the speed of its climate action.On Friday the Carbon Market Institute , which counts companies like Woodside, BHP, BP and South 32 among its members, moved to strip large emitters with an increasing carbon footprint of many of their membership rights.
"So let's manage that but also grab the opportunities that are there in a cleaner economy, and there are many."
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