Goyder appeals to Woodside shareholders to back climate plan

Woodside is spruiking its financial returns in a last-minute letter to investors ahead of a vote next week on its plans for climate change and the future of chair Richard Goyder.

The returns were boosted by sky-high gas prices after Russia invaded Ukraine in early 2022. Prices have since returned to more normal levels.and the AFL Commission, pushed back on calls for the $57 billion company to drastically change its strategy as it risked “eroding value for all shareholders and contributing to a disorderly energy transition”.

The appeal to the back pocket comes after three of the four biggest proxy houses that guide investors on how to vote – CGI Glass Lewis, Institutional Shareholder Service and the Australian Council of Superannuation Investors – recommended Woodside’s climate plan be rejected.CGI Glass Lewis also backs a vote against Goyder’s re-election as chair at Woodside’s annual general meeting in Perth on April 24.

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