Suit Filed Against Santos

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A shareholder activist group is taking Santos to court over its energy transition claims. The Australasian Centre for Corporate Responsibility (ACCR) will, in the Federal Court of Australia, dispute the validity of Santos’ claims that natural gas provides “clean energy” and that it has a “credible and clear plan” to achieve “net-zero” emissions by 2040. By making these claims in its latest annual report, ACCR argues that Santos is engaging in misleading or deceptive conduct in potential contravention of both corporate and consumer law. The suit comes as operators face increased legal risk following recent court rulings that have favored environmentalists in the Netherlands and Australia. Santos is one of Australia’s largest LNG producers with its Gladstone LNG and its Darwin LNG plants, and its production capacity could soon increase as it is poised to take over Oil Search, which has stakes in Papua New Guinea’s LNG projects.

Carbon Capture (CCS), Corporate Strategy
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