Home > Big coalition of civil society organisations put AustralianSuper on notice

Big coalition of civil society organisations put AustralianSuper on notice

25 March 2024

Today, AustralianSuper received a strong message from a big coalition of climate, environment and other civil society organisations, urging the fund to live up to its climate commitments and push for an end to Woodside’s reckless oil and gas expansion plans.

The statement, coordinated by Market Forces and endorsed by more than 40 groups and organisations including Greenpeace, The Australia Institute, GetUp and The Climate Council, was published as a full page ad in today’s Australian Financial Review.

AustralianSuper staff have received copies of this statement as they arrived at work today.

AustralianSuper joint statement featured in the Australian Financial Review, 25 March 2024.

Take action now: tell AustralianSuper to demand an end to Woodside’s oil and gas expansion plans.

Take action

AustralianSuper members: Tell your super fund to demand an end to Woodside’s oil and gas expansion plans.

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To AustralianSuper,

As an AustralianSuper member, I am writing to demand that the fund increases pressure on Woodside immediately by publicly committing to vote against the re-election of the company’s incumbent directors, against its remuneration plan and against its worthless climate strategy, ahead of the company’s annual general meeting (AGM) in April.

I saw the news that more than 40 civil society organisations are calling for AustralianSuper to demand an end to Woodside’s oil and gas expansion plans. It’s clear that both AustralianSuper members and the broader community want the fund to step up and push for greater climate action at this crucial AGM.

AustralianSuper failed to increase pressure on Woodside last year through its voting behaviour. With Woodside’s next AGM just around the corner, AustralianSuper has an opportunity right now to demonstrate that its climate commitments are more than greenwash by publicly rejecting Woodside’s reckless oil and gas growth plans.

That’s why AustralianSuper must commit to voting:

• AGAINST the re-election of incumbent company directors
• AGAINST the company’s remuneration plan
• AGAINST the company’s worthless climate strategy

I look forward to confirmation within one week that AustralianSuper will be publicly committing to vote against the above items of business at Woodside’s AGM in April.

Sincerely,

Of course I want to get updates about this campaign from Market Forces!

Yes

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TOOK ACTION: Super – AusSuper Joint Statement ahead of Woodside AGM – March 2024

AustralianSuper – which manages more than $315 billion on behalf of 3.3 million members – is Australia’s largest super fund and one of Woodside’s top five investors.

Climate science is clear: there can be no new oil and gas projects if we are to avoid the worst impacts of climate change.

Yet Woodside is threatening a safe retirement for super fund members all across Australia with its massive oil and gas expansion plans.

Despite several years of increasing investor pressure on Woodside, the company has consistently failed to deliver a credible climate strategy.

While some other super funds have turned up the heat on Woodside in recent years, Market Forces’ analysis has found that AustralianSuper was the only major super fund to backpedal on climate action at Woodside’s 2023 annual general meeting (AGM) by failing to increase pressure on the company through its voting behaviour.

AustralianSuper has an opportunity at Woodside’s AGM next month to live up to its climate claims and demand an end to this climate wrecker’s destructive oil and gas growth plans.

As one of Woodside’s top five investors, AustralianSuper must demonstrate consequences for this company’s continued misalignment with global climate goals.

That’s why AustralianSuper members and the broader community are calling on the fund to publicly commit to voting:

AGAINST the re-election of incumbent company directors
AGAINST the company’s remuneration plan
AGAINST the company’s worthless climate strategy

AustralianSuper: Be super. Put public pressure on Woodside to end its oil and gas expansion plans.

AustralianSuper members: Take action today!