Australian gas producer Santos Ltd. said on March 16 it would let shareholders cast a non-binding advisory vote on its climate change report at its annual general meeting next year.
The move comes at a time when companies are under pressure to reduce emissions and increase transparency on their response to climate change amid calls for a swift shift towards clean energy.
Santos was asked by shareholders last month to publish yearly climate reports and annually disclose how its capex would be managed in a way that was consistent with the Paris Agreement.
The company has pushed back on these calls, saying it already publishes a climate change report consistent with guidelines of the G20 task force on climate-related financial disclosures.
Further, Santos said on March 16 the board did not support resolutions seeking to change its constitution at this year's meeting and continues to recommend shareholders vote against resolutions demanding more climate-related disclosures.
Shashwat Awasthi, Reuters
System makes it more economical to produce remote and offshore fields and lowers breakeven costs.
The oil and gas industry is continually raising well integrity standards and moving closer to a ‘no compromise’ approach.
The combined oil and gas rig count rose two to 432 in the week to April 9, its highest since April 2020, Baker Hughes said in its weekly report.