Greenpeace settles Woodside lawsuit

Greenpeace Australia Pacific has settled a lawsuit against ASX-listed Woodside Energy over alleged misrepresentation of its emission reductions targets.

Greenpeace filed the lawsuit in December 2023, alleging the fossil fuel giant had misrepresented both its prior emissions reductions, and its emissions reductions targets for 2025, 2030, and 2050.

The lawsuit alleged Woodside had said the targets would achieve substantial reductions in its actual scope 1 and scope 2 emissions, when in fact it would rely heavily on offsets to achieve a decrease in net emissions.

Woodside has since changed how it represents its strategy to response to climate change, which includes the removal of the 'net zero by 2050 or sooner' banner in July 2025 from its website.

Greenpeace Australia Pacific head of climate and energy Joe Rafalowicz said settling the case does not signal the end of its prosecution against Woodside's gas projects.

"During the course of the case, Woodside changed how it was presenting its plans on carbon emissions from what they had said prior to us bringing this case. We take that as a win and have decided to continue the fight against fossil fuel corporations outside of the courts," Rafalowicz said.

"While we may have agreed to resolve our court action against Woodside, in which we alleged it made misleading and deceptive claims to investors regarding its climate plans, the fact is the court of public opinion will judge Woodside for the harm it inflicts on our climate."

He added Woodside's fossil fuel production continues to accelerate the climate crisis, putting the environment and communities at risk.

"Greenpeace strongly supports public interest litigation as a crucial tool in democratic engagement to protect our planet and holding large corporations accountable for their contributions to climate change," Rafalowicz said.

The organisation also alleged Woodside represented its emissions reduction targets were consistent with the Paris Agreement when its emissions reduction targets do not include Woodside's scope 3 emissions - which account for over 90% of Woodside's emissions.

Woodside has plans to significantly expand its oil and gas production and processing and thereby the sum of its actual scope 1, 2 and 3 emissions would not materially decrease by 2030 and may increase past 2030, Greenpeace said.

"Investors and the public deserve accurate information about a company's true climate impact and strategy, especially when those strategies are presented as 'Paris-aligned' - an absurd claim for a company responsible for one of the largest LNG export terminals in Australia, and now the US," Rafalowicz continued.

"The expansion of fossil fuels is incompatible with a 1.5C-aligned world - Greenpeace will continue to campaign to fast-track the transition to homegrown, clean, affordable wind and solar energy, the only solution to the energy crisis we are currently all facing globally."

Greenpeace filed evidence to demonstrate why Woodside's claims were misleading or deceptive or likely to mislead or deceive, it said.

Meanwhile, Woodside welcomed the outcome and agreed for the proceeding to be dismissed on the basis that each party bears its own costs.