Woodside shareholders reject climate plan
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Woodside shareholders have voted against the company's controversial climate plan at its AGM on Wednesday.
Just over 58% of participating shareholders rejected the plan, which has received strident criticism in recent weeks from a range of institutions and activist organisations.
Dissenting institutional shareholders included AustralianSuper and Aware Super.
Woodside shares ended the trading day up 0.39% to $28.54.
Woodside shareholders re-elect chair Richard Goyder
The news: Woodside shareholders voted to re-elect chair Richard Goyder for a third three-year term at the company's annual general meeting (AGM) in Perth on Wednesday.
The numbers: About 72% of shareholders voted to re-elect Goyder, and a majority of shareholders voted in favour of the board's remuneration report and compensation arrangements for CEO Meg O'Neill.
Woodside's share price rose 0.37% to $28.54 by 3:57pm AEST.
The context: Goyder has drawn fierce attacks from activist groups and shareholders in the months leading up to the AGM, for his perceived lack of ability to steer the company through the energy transition.
Superannuation fund HESTA recently called for new directors to be introduced on the board that were better qualified to oversee Woodside's investments in new energy, including hydrogen.
Earlier this week, AustralianSuper and Aware Super indicated that they intended to vote against the climate plan at the AGM. At last year's AGM, just over 49% of shareholders voted against the plan, which was then amended to reflect investors' views that it was not ambitious enough.
Shareholders are due to vote on the updated climate plan towards the conclusion of the AGM today.
The source: Woodside
