Woodside’s latest report a ‘fail’ despite profit more than tripling, climate activists say

Critics say projects such as the Woodside-led Burrup Gas Hub will produce as much as 6bn tonnes of carbon dioxide-equivalent pollution, or about 12 times Australia’s current annual emissions. Photograph: Greg Wood/AFP/Getty Images

Woodside faces more challenges of its climate stance at its upcoming shareholders gathering with activist groups dismissing its latest annual report as a “fail”.

The energy giant on Monday released its climate report 2022 while also revealing its underlying profit had more than tripled to US$5.2bn ($7.7bn). A 63% increase in energy prices to US$98.40 a barrel of oil equivalent in the wake of Russia’s invasion of Ukraine buoyed results that fell about 9% shy of investors’ expectations.