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Santos proxy votes largely oppose activist's climate resolution

Published 15/04/2021, 11:51 am
© Reuters.
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MELBOURNE, April 15 (Reuters) - Investors in Santos STO.AX overwhelmingly opposed a resolution that would have pushed the company to spell out moves to wind down its oil and gas operations to help curb global warming, according to proxy votes shown at the annual meeting.

More than 86% of the proxy votes were against the resolution, with 13.28% in favour.

Although the votes were shown, the resolution - proposed by shareholder activist group Market Forces - was not going to be put to a vote as it required 75% of shareholders to approve a move to amend the company's constitution first.

Proxy votes were 94.4% against amending the constitution.

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