Media Release: Woodside urged to rethink high pollution Burrup Hub gamble
A WA based group advocating for jobs and action on climate change has called on Woodside to drop its troubled Burrup Hub LNG projects and instead invest in alternatives that create greater employment and avoid billions of tonnes of carbon pollution.
Woodside is holding its AGM tomorrow and will be facing pressure from shareholders concerned about the environmental and corporate risks associated with Australia’s most polluting energy project.
Clean State spokesperson Chantal Caruso said her organisation had written to all major shareholder groups ahead of the AGM providing independent research detailing Woodside’s undisclosed carbon risks associated with the projects.
“We have been concerned that Woodside is not adequately disclosing the very high risks associated with its Burrup Hub project to shareholders and investors” she said.
“These risks relate to the lack of disclosure of carbon pollution including indirect emissions, the impact of a carbon price on the profitability of the projects and the very high carbon intensity of the gas that would be produced.
“A lack of corporate alignment with the goals of the Paris Agreement, and risks associated with the company’s ongoing lobbying against action on climate change are also of major concern.
“Woodside is coming under scrutiny because the company’s future growth is totally dependent on the Burrup Hub projects, such as Browse, which would produce more emissions than the Adani coal mine, and because this company is the number one blocker of climate action in WA thanks to its lobbying efforts.”
Investors and analysts have been raising concerns about the lack of a ‘plan B’ for the company as the Burrup Hub projects look increasingly risky in the face of a rapidly changing world energy market and concerns over the climate change impacts of the projects.
“West Australians are also waking up to the fact that Woodside’s lobbying against climate action is holding back the creation of thousands of jobs for West Australians and forcing Australian taxpayers to pick up the company’s $17billion pollution bill from the Burrup Hub development,” Ms Caruso said.
“No amount of lobbying can hide the fact Woodside’s projects would produce fewer jobs per dollar of investment than any other industry in WA.
“It is no surprise that a corporate strategy built almost entirely on lobbying to prevent action on climate change and passing on the costs of carbon pollution to Australian taxpayers has drawn comparison to the tobacco industry by business commentators.
“Woodside must drop the Burrup Hub development and instead pursue alternatives like renewable hydrogen export that will provide jobs for Western Australians while saving billions of dollars for Australian taxpayers who would be forced to pick up Woodside’s pollution bill for the Burrup Hub project.”
Media Contact: Paul Jarvis, 0421 705 633, email@example.com
- LNG production is WA’s biggest and fastest growing pollution source, rising from 9% of the state’s total in 2005 to 36% today.
- Australian taxpayers are paying $4.55 billion for the Morrison Government’s Emission’s Reduction Fund to essentially subsidise pollution from companies like Woodside.
- 32 million tonnes of annual direct carbon pollution from WA’s five LNG plants is greater than the savings achieved by all renewable energy installed across Australia.
- WA is the only state with rapidly rising emissions, due to uncontrolled pollution from LNG production growth.
- Woodside lobbied to overturn the WA EPA recommendations for LNG companies to offset carbon pollution by investing in carbon farming and renewable energy. This would cost around 2% of company operating profits and generate over 4,000 new jobs across WA.