Oil and gas giant Santos is facing significant investor pressure over climate change as influential shareholder advisers recommend defying the board and supporting demands for hard emissions-reduction targets.
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| Santos' commitments on climate change are set to be questioned at Friday's AGM. |
Shareholder resolutions to force the ASX-listed energy giant into setting stronger targets for its direct and indirect greenhouse gas emissions and review its links to powerful lobby groups appear likely to gain considerable support at the company's annual general meeting on Friday.
The $55 billion super fund HESTA, which owns shares in Santos, confirmed it had voted in favour of both.
"We have consistently voted for resolutions that seek to ensure alignment between a company's stated climate approach and their support for corporate lobby groups who have pushed to limit policies to address climate change," HESTA chief investment officer Sonya Sawtell-Rickson told The Age and Sydney Morning Herald.
Read the story from The Age by Nick Toscano - “Santos investors to turn up heat on climate change targets.”
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