Woodside ‘say on climate’ welcomed by investors

The Australian Council of Superannuation Investors (ACSI) has today welcomed Woodside’s announcement that climate reporting will be put to an advisory vote at its 2022 Annual General Meeting.

ACSI CEO Louise Davidson said “ACSI welcomes Woodside’s commitment to adopting a non-binding ‘say on climate’ vote from 2022. It is positive to see that the board and management have considered the views of major investors and adopted a leadership position on this critical issue.”

“Given the heightened exposure of the Australian economy to climate risk, there is increasing momentum from investors for a ‘say on climate’ and increased transparency around how companies are managing climate risk.” 

“The advisory vote on climate reporting is a critical step as companies develop and execute climate transition strategies. The vote will add to investor engagement on these issues and allow investors to voice concerns where issues arise.” 

“Companies are increasingly recognising the importance of climate-related financial risk to investors.Woodside joins Santos, Rio Tinto, Shell and several other global companies in adopting an advisory ‘say on climate’ vote. We expect many more companies to adopt this approach by the end of the year.“

Media contact: Nathan Robertson 0423 874 662

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