14 April 2021
Shareholders in Australian gas giants Woodside and Santos will vote on Thursday on whether they are happy with the companies’ plans to ramp up gas production over the next decade – plans activist group Market Forces says are wildly incompatible with the Paris Agreement goals.
The group, an offshoot of Friends of the Earth, has drawn up shareholder resolutions that, if successful, would force each company to provide detailed plans on how it will reduce production so it is in line with the Paris goal of keeping global warming well below 2 degrees and as close to 1.5 degrees as possible – a target each company has said it is committed to.