Latest News

Australian climate protesters disrupt Woodside’s annual meeting

On Thursday, climate change protesters shouted and blew whistles as they disrupted Australian Woodside Energy's Annual General Meeting. They also heckled Chief Executive Meg O'Neill.

Similar to last year's protests, investors were also involved in the reaction to Woodside’s gas projects and sustainable measures. The Australian pension funds HESTA, and Aware, lodged protest votes against Woodside’s director who was charged with overseeing climate risk.

O'Neill said to protesters who interrupted the opening of her speech: "I'd like to ask that you be respectful to the other shareholders who are in the room. They have a keen desire to understand what we're trying to do to create value for them."

You should be ashamed! Some of them were yelling.

As O'Neill spoke about Woodside's portfolio of gas, its contribution to the society, and its role in meeting decarbonisation and energy security goals, the whistling began.

Richard Goyder, Chairman of the Board, said that the behavior was "unnecessary".

The event organizers tried to drown out noise by playing promotional video clips about the company’s energy projects and sponsorships of the local football club, the Fremantle Dockers.

O'Neill continued, "We can still play many more videos."

Similar protests were made at last year's annual meeting, and Woodwide's emission plan was rejected by shareholders.

The company approved a $17.5 billion liquefied gas project in Louisiana, United States. This would increase its LNG production to 24 million tonnes annually (Mtpa), or more than 5 percent of global supply, in the next ten years.

Glass Lewis, a powerful proxy adviser, recommended to shareholders that they block the reelection of Ann Pickard as an independent director, who chairs the committee for climate risk.

HESTA, Aware and Storebrand in Norway have said that they will vote against Pickard's reelection. The US pension funds CalPERS, CALSTRS, and CALSTRS, too, have said they will vote against Ben Wyatt.

HESTA released a statement saying that "the steps taken by Woodside to date fall short of what it needs to do to position itself for a global transition to a future low-carbon." (Reporting from Christine Chen in Sydney, Editing by Clarence Fernandez).

(source: Reuters)