Australia’s Woodside on March 19 said it intends to put its climate reporting to a non-binding, advisory vote of shareholders at its 2022 annual general meeting.  

The company said this will support its “continued transparency regarding its contribution to a lower-carbon future”. Woodside has set near- and medium-term emissions reduction targets, and a plan to meet them, for its equity Scope 1 and 2 emissions consistent with its aim of achieving net-zero by 2050 or sooner. 

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Woodside said its climate-related disclosures are structured to align with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Chairman Richard Goyder said the non-binding, advisory vote will supplement Woodside’s ongoing conversation with its shareholders and stakeholders. 

“We will continue to engage with shareholders in 2021 to inform the content of Woodside’s climate reporting ahead of the non-binding shareholder vote in 2022, and on the risks and opportunities for Woodside arising from the energy transition,” he said. “Woodside supports the TCFD framework and the goals of the Paris Agreement. We already report on the impact of climate change on our present and future activities, as well as progress against credible emissions reduction targets,” he said. 

Santos, another Australian explorer, also intends to provide shareholders with a non-binding advisory vote on its climate change report at the 2022 annual general meeting.