Australian explorer Santos on March 16 said it intends to provide shareholders with a non-binding advisory vote on the company’s climate change report at the 2022 annual general meeting. This decision was announced following a discussion with investors.

CEO Kevin Gallagher said the company had drawn a roadmap to net-zero emissions by 2040, and providing shareholders with an advisory vote was a “further example of Santos’ leadership on climate”. 

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The company is looking to lower its scope 1 and 2 emissions by 26-30% by 2030, versus a 2020 baseline, and it also plans to actively work with customers to reduce their scope 1 and 2 emissions by more than 1mn metric tons/year within the next decade, through switching to cleaner fuels. 

Santos is also investing in carbon capture and storage (CCS) through the Moomba CCS project, which will store 1.7mn metric tons/year of CO₂. The company published its first climate change report in 2018 and released its fourth last month. 

“Management remuneration is also linked to the company’s emission reduction targets and shareholders are already able to vote on adoption of the remuneration report at the annual general meeting,” it said.