Already a subscriber?Some of the biggest pension funds in the United States will vote against the re-election of Woodside Energy’s chairman, Richard Goyder, amid a stoush between the oil and gas giant and environmental activists over the company’s climate strategy.
Woodside chairman Richard Goyder is facing a push from environmental activists who want him removed from the company’s board.Woodside has become a focus of activist investing from environmental groups opposed to the company’s plans for major oil and gas developments, including the Scarborough project in Western Australia and Trion in the Gulf of Mexico.
Ahead of the Wednesday vote, the company’s largest investors have begun disclosing how they intend to vote. AustralianSuper’s head of equities, Shaun Manuell, said on Monday that fund intended to vote against the climate plan but for Mr Goyder. Two of Woodside’s largest shareholders, Blackrock and Vanguard, index fund managers with a combined holding of about 16 per cent, said they would not disclose their voting intentions ahead of the meeting on Wednesday.
Woodside’s chief executive Meg O’Neill on Friday argued that the company’s climate plan was realistic, criticising some of the oil and gas group’s peers for “very aggressive targets”
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