The sustainability arm of Institutional Shareholder Services is recommending against the re-election of the company’s chairman – contradicting its main analyst.
Already a subscriber?Investors focused on sustainability should vote against the re-election of Woodside Energy chairman Richard Goyder because the oil and gas producer’s emissions reduction commitments are not in line with shareholder expectations, Institutional Shareholder Services’s ESG advisory division has told its clients.
Mr Goyder’s re-election is supported by Ownership Matters, as well as Allan Gray, a major Woodside shareholder, along with ISS. It is opposed by CGI Glass Lewis. Vas Kolesnikoff, ISS’s main analyst in Australia, said there was nothing unusual about the different stance taken by the firm’s sustainability policy division.
This year, Mr Goyder has become the biggest target, as well as the climate plan itself, amid a campaign by both activist investor groups the Australasian Centre for Corporate Responsibility and Market Forces. The latter, an arm of Friends of the Earth, is also urging shareholders to vote against Woodside’s remuneration report.
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