ORIGIN ENERGY LIMITED | Approval of Climate Transition Action Plan at ORIGIN ENERGY LIMITED

Status
94.50% votes in favour
AGM date
Previous AGM date
Proposal number
8
Resolution details
Company ticker
ORG
Submitted by
-
Resolution ask
Other ask
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Type of vote
Other management proposal or proxy item
Filer type
Management
Company sector
Energy
Company HQ country
Australia
Resolved clause
The Company has committed to submitting its Climate Transition Action Plan to shareholders as an advisory vote at the 2021 AGM.
The intent of this resolution is to provide the Company’s shareholders as a whole with an opportunity to discuss and provide feedback on the Climate Transition Action Plan. While the advisory vote is not binding on the Directors or the Company, the Board will take the outcome of the vote and discussion at the meeting into account in determining how Origin progresses, evaluates and looks to improve upon the initiatives set out in the Climate Transition Action Plan. The Directors recommend shareholders vote in favour of Resolution 8.
Supporting statement
Elements of our Climate Transition Action Plan have been assured on a limited basis by EY, including the alignment of our mediumterm equity emissions intensity target to a 1.5°C pathway envelope. Possible future emissions from any development of new gas fields are excluded because there has been no decision, nor are we close to a decision, on whether to develop those exploration and appraisal activities into production. However, any development that may be pursued in the future would only occur where it was consistent with our ambition to be net zero emissions by 2050. The Climate Transition Action Plan is a three-year plan and the Company intends to report on its progress against key elements of this Plan annually. If circumstances change it may be appropriate to revise the Plan within the three-year period. If the Company intends to materially revise the Plan, the Board intends to put a revised Plan to shareholders for a non-binding advisory vote at the next scheduled AGM. Circumstances that may lead us to revise the Plan within the three-year period include a significant change in our strategy, asset portfolio or the markets or regulatory environment in which we operate

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