Woodside, Australia's largest coal company, faces protests and investor anger at its annual meeting

On Thursday, climate change activists shouted and blew whistles as they disrupted the annual general meeting of Australian gas producer Woodside Energy. They also heckled Chief Executive Meg O'Neill.

Investors were also involved in the protests against Woodside's sustainability and gas projects, as they had been in previous years. The Australian pension funds HESTA, and Aware, both lodged protest votes, and voted against its director who was charged with overseeing climate risk.

O'Neill said to protesters who interrupted the opening of her speech: "I'd like to ask that you be respectful to the other shareholders who are in the room. They have a keen desire to understand what we're trying to do to create value for them."

You should be ashamed! Some of them were yelling.

Around 20 minutes after the meeting began in Perth, O'Neill was discussing Woodside's portfolio of gas, its contribution to the society, and its role in meeting decarbonisation and energy security goals.

Richard Goyder, Chairman of the Board, said that the behavior was "unnecessary".

The event organizers tried to silence the crowd by playing videos about the energy projects of the company and its sponsorship of the football club Fremantle Dockers.

O'Neill continued, "We can still play many more videos."

O'Neill & Goyder was also questioned by attendees of the meeting who questioned their carbon emissions and impact on the proposed

North West Shelf project extension

Scott Reef and Murujuga Rock Art.

Outside, a coalition of environmental groups including Go Beyond Gas and Conservation Council of WA also protested.

The same backlash was seen last year, with activists and shareholders both criticizing Woodside's plan to reduce emissions.

Last week, the company approved a $17.5 billion liquefied gas project in Louisiana, United States, which will increase its total LNG production to 24 million tonnes annually (Mtpa), or more than 5 percent of global supply, in the next decade.

Glass Lewis, a powerful proxy adviser, recommended to shareholders that they block the reelection of Ann Pickard as an independent director, who chairs the committee for climate risk.

The company cited a lack of response to "a pattern of persistent and significant shareholder opposition" to its climate strategy.

HESTA, Aware and Storebrand in Norway voted against Pickard's reelection. CalPERS and CALSTRS, two US pension funds, voted for director Ben Wyatt.

HESTA released a statement saying that "the steps taken by Woodside to date fall short of what it needs to do to position itself for the global shift to a future low-carbon."

According to the Australasian Center for Corporate Responsibility, one-fifth of shareholders (19.45%) voted against Pickard’s election. This is the worst vote ever recorded against a Woodside Committee Chair. (Reporting and editing by Clarence Fernandez in Sydney, Stephen Coates, and Christine Chen)

(source: Reuters)