Tuesday 27 February 2024 - While Woodside Energy makes an annual net profit of US3.32 billion ($5.1 billion), Australian and Pacific communities are paying the price of fossil fuel-powered extreme climate impacts, Greenpeace Australia Pacific said today.
Today the fossil fuel giant released its latest annual report along with its annual 'Climate Transition Action Plan'.
Comments attributable to Greenpeace Australia Pacific Head of Climate and Energy Jess Panegyres:
"In the hottest year on record, punctuated by extreme weather events and the ever-spiralling cost of living, Woodside made billions of dollars – these profits are made from our collective loss.
"Gas is a dirty and polluting fossil fuel that's driving the climate disasters we're seeing take place all over Australia. Costs from natural disasters are already around $38bn a year, or 2% of GDP, a bill expected to roughly double in four decades.
"Woodside is Australia's biggest climate threat and we believe they cannot be trusted.
"Where the world is investing in clean, green renewables, Woodside's profits are instead overwhelmingly invested in new fossil fuel projects and in maximising their shareholder profits.
"To address the worsening climate crisis, Woodside needs to stop drilling new fossil fuel fields and start paying for the damage done by climate change in Australia and the wider Pacific region.
"Today Woodside also released its latest Climate Transition Action Report. Greenpeace is currently taking Woodside to court, alleging that in earlier communications the fossil fuel giant has been misrepresenting its climate performance and plans to the Australian public.
"We're arguing that Woodside's statements mislead investors, governments and the general public into thinking it is reducing its emissions when in truth the company's emissions are increasing.
"The question that Woodside must now answer before our courts is whether its climate claims actually stack up.
"Woodside's so-called 'climate transition action report' should be closely scrutinised."
Greenpeace's court proceedings against Woodside Energy will next be heard on 27 March 2024 at 9.30 am in the Federal Court of Australia.
