Advisory agency CGI Glass Lewis is recommending Woodside Vitality Group Ltd. shareholders vote to take away Chairman Richard Goyder on the firm’s annual assembly this month as a consequence of questions over the corporate’s local weather technique.
The Woodside chair ought to be held accountable for his monitor file of dismissing shareholder issues on local weather danger administration and never disclosing sufficient data on the subject, CGI Glass Lewis stated in a observe to purchasers on Friday. The opposition to Goyder comes after Qantas Airways Ltd. introduced final October that he would step down as chairman following a sequence of scandals at Australia’s largest airline.
Woodside, the nation’s largest oil and gasoline producer, has been aggressively ramping up manufacturing of liquefied pure gasoline, however has confronted criticism from the Australian Centre for Company Accountability and others for disregarding local weather dangers related to the technique. HESTA, an investor in Woodside, final month urged the corporate to contemplate including new board members with the talents to navigate the local weather transition.
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The fossil gas producer — one in every of Australia’s largest polluters — is concentrating on a 15 % discount in its internet fairness scope 1 and a pair of greenhouse gasoline emissions by 2025, and is planning new measures to curb scope 3 air pollution, Chief Government Officer Meg O’Neill stated final month.
Woodside launched an up to date local weather plan in March in response to shareholder suggestions, but it surely stays “materially unchanged,” the ACCR stated in an announcement on Friday.
The Perth-based firm’s AGM can be held on April 24.
