"'Breakthrough moment': Woodside investors revolt on climate change", 30 April 2020

Woodside Petroleum has been hit with a record-breaking investor push to slash emissions and link executive pay to achieving bold new targets, as Australia's oil and gas industry emerges as the next front for shareholder pressure on climate change.

More than 50 per cent of investors backed motions...for Woodside to commit to hard targets to reduce its own greenhouse gas emissions and its vastly greater "indirect" emissions – known as Scope 3 emissions – from customers of its products such as power plants around the world.

[...]

...[E]thical investment group the Australasian Centre for Corporate Responsibility (ACCR), called for Woodside to set emissions targets in line with the goals of the Paris climate agreement to limit global warming well below 2 degrees. [...]

The resolution won the backing of more than half of Woodside's investors, despite the urging of the board. The support is the highest ever in corporate Australia for a shareholder resolution calling for direct and indirect emissions targets.

"This is a breakthrough moment for investor action on climate change in Australia," the ACCR's Dan Gocher said.

[...]