Woodside accused of not taking carbon emission responsibilities seriously in new climate report
Author: Keane Bourke
Climate action groups are warning some of the nation's biggest emitters face growing increasingly isolated from shareholders and industry groups if they do not act to reduce their carbon output. It comes after Woodside yesterday released its 2022 Climate Report, revealing a $9.7 billion profit over the last year, while reducing emissions by just 1 per cent more than the year before - going from a 10 to 11 per cent reduction from its baseline. Across the same period though, overall emissions increased because of the oil and gas giant's acquisition of BHP's oil and gas projects. The company defended its progress, saying it was still on track to meet its target of a 15 per cent reduction by 2025 and eventually net zero by 2050. But green groups say the company is not taking its responsibilities seriously and is showing a "lack of genuine commitment to emissions reduction". The previous edition of Woodside's Climate Report was only narrowly accepted by shareholders last year, with 49 per cent of voting it down. Critics pointed to what they saw as a lack of detail over the company's use of carbon offsets and missing targets, with chairman Richard Goyder rejecting the idea it was a sign of displeasure over the company's takeover of BHP's oil and gas business or projects in the pipeline. Those projects include the controversial $16 billion Scarborough gas development, expected to emit millions of tonnes of carbon over its lifetime after shipments begin in 2026.