Greenwashing hostility crashes friendly gas deal

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Santos boss Kevin Gallagher argues his $6 bln Oil Search acquisition will help fund a clean energy transition. A world-first lawsuit, however, threatens the credibility of his net-zero plan, says AntonyMCurrie:

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Santos-operated Moomba gas plant is seen outside Moomba, South Australia May 17, 2012. Picture taken May 17, 2012.

The Australian fossil-gas giant seems in no hurry to slash emissions. Gallagher’s blueprint involves increasing fuel production by up to 45% between 2020 and 2026. The $9 billion company’s direct emissions – as opposed to those created by customers burning gas supplied by Santos Perhaps it will turn out to be, but not everyone is as confident. The Australasian Centre for Corporate Responsibility, a shareholder advocacy group, sued in Australian federal court, arguing that Santos’ climate-related statements constitute greenwashing and represent, legally speaking, “misleading or deceptive conduct”.

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