Woodside Energy Group (ASX: WPL) is facing dissent from the Australasian Center for Corporate Responsibility (ACCR), which has called for a vote against all directors standing for either re-election or election, according to a Thursday statement by the ACCR.
The shareholder advocacy and research organization argues that despite chronically poor shareholder returns, the company continues to follow a high-cost, high-carbon, and low-value strategy.
The group also points to shareholder opposition to Woodside's Climate Transition Action Plan (CTAP), with 58% voting against the plan in 2024.
The board has failed to meaningfully respond to investor concerns on both governance and climate risk, ACCR said.
Woodside's total shareholder returns over the past 15 years have been 168% lower than the ASX100.
Woodside Energy did not immediately respond to a request for comment by MT Newswires.
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