Woodside Energy Group (ASX:WDS) wants to play a "constructive" role in the global response to climate change, and it is "taking meaningful steps to achieve this," its chair Richard Goyder said, according to a Thursday Australian bourse filing.
He said that the firm's climate strategy meets current political and market realities, which indicates the energy transition is likely to unfold in a way that is not linear or uniform across the world.
In Australia, around 60% of power generation comes from coal and gas, while the Australian Energy Market Operator and large energy users in Australia have all made the case that gas will continue to be an important part of the energy mix for many years to come.
While renewables are growing, there are real costs and reliability issues associated with these systems. Woodside seeks to set targets where it has identified a pathway to meet them.
The firm had not walked back from its climate targets and commitments, he added.
Climate change activists disrupted Woodside's annual general meeting on Thursday, according to multiple media reports.
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