Australia live news: Morrison says China threat inspired Aukus deal, Woodside directors face climate challenge

Australia live news: Morrison says China threat inspired Aukus deal, Woodside directors face climate challenge | Australia news | The Guardian

Institutional shareholders angry at Woodside Energy’s approach to climate change will take their fight to its board for the first time at next month’s AGM, Australian Associated Press reports.

They are targeting three long-standing directors up for re-election – Queensland Resources Council chief executive and former federal resources minister Ian Macfarlane, Singaporean oil and gas executive Swee Chen Goh and former oil boss and American Larry Archibald.

The non-executive trio is up for another stint on the 10-member board (not including chairman Richard Goyder and managing director Meg O’Neill) and were expected to be rubber-stamped at an annual general meeting next month.

But shareholder advocacy group the Australasian Centre for Corporate Responsibility (ACCR), alongside institutional investors - industry superannuation fund Vision Super and fund manager Betashares - said on Wednesday they had lost faith in the directors.
Three Woodside board members face a fight to be re-elected. Photograph: Rafael Henrique/SOPA Images/REX/Shutterstock

In statements relating to the re-election of directors sent to Woodside, they call for all three to be held to account for repeatedly failing to have a credible climate strategy and continuing to allocate the bulk of Woodside’s capital to developing new oil and gas projects.

The activist shareholders are also concerned carbon offsets continue to dominate Woodside’s strategy to cut emissions at production sites, according to the statement filed with Woodside ahead of the annual general meeting on April 23.

Shareholders across the Australian market are increasingly demanding climate accountability and sustainability competence at the board level, and many boards - including Woodside’s - have acknowledged climate change as an issue that will affect their business.

Woodside confirmed to AAP that members’ statements have been received from ACCR ahead of the AGM.

“These statements were not compliant with the requirements of the Corporations Act, and so will not be included in the upcoming notice of meeting,” a Woodside spokesperson said.

In response, ACCR said it was deeply concerned at the apparent denial of shareholders’ ability to voice concerns about governance at the AGM.

Also on 7.30 last night, Scott Morrison was grilled about the robodebt scandal, which he was inextricably linked to through his time as social services minister, treasurer and prime minister.

The welfare compliance program, ruled to be illegal and the subject of a royal commission, was conceived during his timee as social services minister and later ended under his prime ministership when it was found to breach the law.

Asked about the program, Morrison responded on 7.30:

It is totally regrettable and it is a very sad thing that has occurred.

He said “there was a lot learned”but defended the intent behind the scheme.

The idea of ensuring that taxpayers’ money, which is paid, is done properly is the principle and I think that principle is right. But clearly how this was executed on an industrial scale failed that test.

7.30 host Sarah Ferguson repeatedly asked Morrison if the program was immoral.

He declined to answer specifically, but said:

I think the outcome, not the intent, but the outcome was very different from what was intended.

Morrison says China threat was ‘top’ reason for Aukus subs

Former prime minister Scott Morrison has admitted that China’s rapid military expansion was “at the top of the list” of reasons why the United States gave Australia access to closely guarded nuclear submarine secrets under the Aukus pact.

In an interview with the ABC’s 7.30 program last night, Morrison said his reasoning for pursuing the nuclear subs deal was to prevent war with China.

“It was a combination of events but that was certainly at the top of the list,” he told host Sarah Ferguson, when she asked if China’s rapid rise was the reason the United States finally shared their nuclear secrets.

Asked if he was contemplating a future war with China when planning the Aukus deal in 2021, Morrison responded:

No, not necessarily. It was more about planning the situation that we would prevent such an outcome and to prevent such an outcome you needed this capability.

You needed the counter-balancing influence within the Indo-Pacific that this would produce. The goal here ... was providing an enduring strategic counter-balance. To achieve that, you need these capabilities.

Morrison also confirmed reports he had initially kept the Aukus pact secret from even his own cabinet ministers, besides defence ministers Linda Reynolds and Peter Dutton, and foreign affairs minister Marise Payne.

Morning. I’m Martin Farrer and welcome to our rolling coverage of the day’s news. I’ll bring you some of the best overnight breaking stories before my colleague Natasha May takes over.

The fallout from the Aukus submarine deal is very much top of the news agenda this morning, with China describing the scheme as a “path of error and danger”. The comments by the Chinese foreign ministry highlight the increasingly clear divide across Asia-Pacific with the US, Australia and UK recalibrating western defence capabilities in the region to counter what is seen as Beijing’s bellicose stance on Taiwan. Former prime minister Scott Morrison told ABC’s 7.30 that the threat from China was “top of the list” of reasons for buying the nuclear subs. We’ve got more on what he said coming up.

Climate activists have been stepping up action against Woodside Energy, including defacing its Perth offices in protest against the alleged destruction of ancient First Nations art in the Burrup Peninsula. Now three members of the board face a fight for re-election at next month’s AGM after shareholder advocacy group the Australasian Centre for Corporate Responsibility, alongside institutional investors – industry superannuation fund Vision Super and fund manager Betashares – said this morning they had lost faith in the directors and would hold them to account for lacking a clear climate strategy.