"In a blow for climate activists, the federal court on Tuesday dismissed the case brought by the shareholder advocacy group the Australasian Centre for Corporate Responsibility (ACCR). The ACCR, represented by the Environmental Defenders Office, alleged the gas company breached the Corporations Act by engaging in misleading or deceptive conduct in its 2020 annual report, an investor briefing and a 2021 climate change report."
"Central to these allegations were three key claims by Santos: that it was a producer of clean energy and natural gas was a clean fuel; that hydrogen it produced with carbon capture and storage was zero emissions hydrogen and clean hydrogen; and that it had a clear and credible pathway to net zero by 2040. Santos argued ACCR's case ignored years of its work in the lead-up to its 2020 investor briefing and annual report, and its 2021 climate change report."
Federal court dismissed the ACCR's greenwashing claim against Santos and ordered ACCR to pay Santos's costs. The ACCR alleged Santos misled investors across its 2020 annual report, investor briefing and 2021 climate change report. Central allegations concerned claims that Santos was a producer of clean energy, that natural gas and hydrogen with carbon capture were clean or zero-emissions fuels, and that Santos had a clear, credible pathway to net zero by 2040. Santos said its 2030 targets (26–30% reduction) and 2040 net zero represented present intentions, not promises. The case was heard over 13 days; reasons will be published on 23 February.
Read at www.theguardian.com
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