Climate vote at Santos sets new Australian record

“This voting outcome is very promising for the AGM season in Europe, where Shell and Equinor face resolutions with the exact same request for Paris-aligned targets for all emissions (Scope 1, 2, and 3)”, added Mark van Baal, Founder of Follow This, the Dutch non-profit which filed the proposals at the two European oil heavyweights.

Two climate proposals at Santos enjoyed unprecedented shareholder support today at the oil & gas giant’s virtual annual meeting, with a record-breaking one on lobbying making Australian corporate history.

The first resolution, on setting targets aligned with the Paris Accord (covering Scope 1, 2 and 3 emissions), was supported by a massive 43% of shareholders.

On Twitter, Brynn O’Brien, ACCR’s Executive Director, wrote: “WOW. 43.39% (~62% of floating stock!!) of @SantosLtd shareholders supported @AustCCR’s shareholder resolution calling for the company to set climate targets. 46.35% (~66% of floating stock) supported our call for the company to review its lobbying agenda.”

Read the entire article by Paul Verney on Responsible Investor (via (trial) subscription)