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.
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