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Woodside\u2019s climate-wrecking oil and gas expansion plans and the financial institutions backing them<\/p>\n
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Woodside Energy is Australia\u2019s largest producer of gas, and is pursuing massive expansion plans consistent with the failure of the Paris Agreement.<\/strong><\/p>\n According to the International Energy Agency (IEA), reaching net zero emissions by 2050 means no new oil and gas<\/a> production can proceed. The United Nations Environment Programme (UNEP) has also confirmed<\/a> that limiting global warming to 1.5\u00b0C in line with the Paris Agreement means \u201cglobal fossil fuel production must start declining immediately and steeply.\u201d<\/p>\n It is abundantly clear that achieving these climate goals and a stable climate future leaves no room for the expansion of the oil and gas industry. Despite this, Woodside is pursuing massive new oil and gas projects consistent with the failure of these goals, such as the massive and highly controversial Scarborough gas project. Many Australian financial institutions continue to support Woodside and its climate-wrecking projects.<\/p>\n Almost every super fund in Australia invests members\u2019 retirement savings in Woodside, and at least 27 Australian and international banks\u2014including ANZ and Westpac\u2014have provided finance to the company since 2018. Many of these financial institutions claim to support the Paris Agreement and net zero emissions by 2050, yet continue to support a company pursuing plans consistent with the failure of these goals.<\/p>\n Woodside is undermining a stable climate future by pursuing new oil and gas projects. Our super funds and banks must stop investing in Woodside and its climate-wrecking projects and plans now.<\/strong><\/p>\n [\/et_pb_text][et_pb_button button_url=”#woodside-super” button_text=”See if your super fund has ruled out Woodside” button_alignment=”center” _builder_version=”4.16″ _module_preset=”default” button_icon=”3||divi||400″ custom_css_main_element=”width: 100%” global_colors_info=”{}”][\/et_pb_button][et_pb_button button_url=”#woodside-banks” button_text=”See which banks have loaned to Woodside” button_alignment=”center” _builder_version=”4.16″ _module_preset=”default” button_icon=”7||divi||400″ custom_css_main_element=”width: 100%” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_code module_id=”take-action-super” _builder_version=”4.27.0″ background_enable_color=”off” custom_margin=”|0.5em||0px|false|false” custom_padding=”||||false|false” box_shadow_style=”preset3″ global_colors_info=”{}”]<\/p>\n <\/p>\n TAKE ACTION!<\/h3>\n