Origin Energy: climate change

Oct 2022

Engagement type One-to-one

Our engagement

We engaged a few times with management and the board ahead of the votes on Origin’s AGM, particularly on their climate transition plan, which was put up for shareholder vote for the first time. We assessed the plan based on three criteria: the ambition, the credibility/governance of the plan, and to what extent the company is making capital allocation decisions in alignment with targets.

The outcome

While there are areas where we think the company could improve, on balance we are supportive. Ahead of its AGM, Origin divested its interest in the Beetaloo Basin project. We are planning to continue our engagement with Origin as part of our thermal coal engagement program, which aims to ensure a responsible phase-out of thermal coal in an orderly and responsible way.