Australia’s largest oil and gas company is at risk of facing an investor backlash over its response to climate change at an upcoming shareholder vote.
Woodside, the largest Australian oil and gas company, is at risk of facing a fresh investor backlash over its response to climate change as a key shareholder advisory group recommends voting against its decarbonisation plans and the re-election of chairman Richard Goyder.
“This has been a long-running concern at the company, and we do not believe that it has taken appropriate steps to alleviate it in recent years.” “Ultimately, we believe that the company’s continuous failure to provide adequate disclosure that offers a clear line of sight into its shareholder feedback and its response thereto warrants opposition to this proposal,” it said.Goyder, one of Australia’s most prominent business leaders, is preparing to step down as chairman of Qantas this year, but is running for re-election at Woodside’s coming annual general meeting.
Woodside on Thursday responded to CGI Glass Lewis’s report, describing Goyder as a highly capable and effective leader who continues to provide “valuable insight, stewardship and strength to the board … as a result of his extensive business career and board experience”.“Mr Goyder and the senior leadership team have held numerous direct engagements with a broad range of shareholders on climate strategy and governance,” a Woodside spokesperson said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Push to remove Goyder as Woodside faces investor climate heatAustralia’s largest oil and gas company is at risk of facing an investor backlash over its response to climate change at an upcoming shareholder vote.
Read more »
WDS ASX: Woodside rebuffs activist push against chairman Richard Goyder on climateThe board said it “strongly disagrees” with activist shareholder groups seeking to block Richard Goyder’s re-election and to reject the remuneration report.
Read more »
Influential proxy advisor urges vote against Woodside chairman GoyderCGI Glass Lewis also supported an activist shareholder group push to reject the oil and gas producer’s updated climate strategy at the company’s annual meeting.
Read more »
Woodside Faces Investor Backlash Over Climate Change ResponseWoodside, the largest Australian oil and gas company, is at risk of facing a fresh investor backlash over its response to climate change as a key shareholder advisory group recommends voting against its decarbonisation plans and the re-election of chairman Richard Goyder.
Read more »
Fears for $8b Woodside project under Senegal’s new governmentThe nationalist rhetoric from a new president who has pledged to rework oil production contracts comes just ahead of the start-up of the Sangomar oil project.
Read more »
Kim Beazley urges Tanya Plibersek to reject Woodside LNG plant extensionFormer Labor leader joins other ex-ALP leaders, Indigenous elders and scientists in calling on federal government to protect Indigenous rock art on Western Australia’s Burrup Hub
Read more »