Woodside Chairman Faces Protest Vote Over Climate Action Plan

to vote for Woodside chairman Richard Goyder but against the oil and gas giant’s climate transaction action planThe bush telegraph suggests Goyder will cop a substantial protest vote against his re-election at the company’s annual general meeting on April 24 , but with the support of HESTA and other funds, he’s in no serious danger of being rolled.

It’s positive that Woodside has improved on its first climate plan, which was widely panned. It’s positive it has engaged widely, with Goyder reportedly holding 43 meetings personally, and the investor relations team holding a further 70 meetings. This is precisely what we want to see: a company and its owners having adult conversations about an extremely important issue. Woodside lays out its plan, and shareholders interrogate it in an active, thoughtful way – that’s a much better outcome than an investor simply selling their shares and walking away from the thorny problem of the energy transition.

But zooming in on Woodside, HESTA chief executive Debby Blakey is asking a very reasonable question when she suggests “the technological and cultural change required to prepare the business for the energy transition” may require directors with different skills.

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