Resistance against fossil fuel businesses is continuing to impact the operations of Woodside’s business.
Today (1 June 2023), protestor actions resulted in Woodside headquarters being evacuated and so essentially 1-day of office productivity has been lost.
Woodside’s Perth headquarters evacuated after activists’ fake gas leak
Hundreds of Woodside employees have been evacuated from the company’s headquarters in Perth after a faux gas leak organised by those campaigning against the $50 billion Burrup Hub project.
A dozen firefighters swarmed the building to investigate the smell about 10am on Thursday, understood to have been caused by non-toxic stench gas released by Disrupt Burrup Hub protester Kristen Morrissey. [… article continues…]
Resistance from climate change activists can have a significant impact on fossil fuel businesses in several ways.
Public perception and reputation: Climate change activists often raise awareness about the environmental impacts of fossil fuel consumption and advocate for cleaner alternatives. Their campaigns, protests, and advocacy work can shape public perception and create a negative image for fossil fuel companies. This can lead to reputational damage and decreased consumer support for these businesses.
Regulatory pressure: Activists often push for stricter regulations and policies to mitigate climate change, including measures to reduce greenhouse gas emissions and promote renewable energy sources. Their efforts can influence policymakers to implement stricter regulations on fossil fuel companies, such as carbon pricing, emissions caps, or renewable energy mandates. These regulatory changes can increase costs and operational challenges for fossil fuel businesses.
Investment and divestment: Climate change activists often target fossil fuel companies by advocating for divestment from these industries. Their campaigns urge institutional investors, such as universities, superannuation funds, and large investment firms, to divest from fossil fuel stocks and redirect their investments towards renewable energy and sustainable companies. If successful, divestment movements can affect the availability of capital and lead to a decline in investment for fossil fuel businesses.
Legal action: In some cases, climate change activists may initiate legal actions against fossil fuel companies, alleging that their activities contribute to climate change and harm the environment. These lawsuits, such as claims related to climate-related damages or inadequate disclosure of climate risks, can result in financial liabilities and legal costs for the fossil fuel industry.
Market shifts: As public sentiment and government policies increasingly favour clean energy and decarbonisation, the market dynamics are shifting. Renewable energy technologies are becoming more competitive, and the demand for fossil fuels is expected to decline in the long term. Climate change activists play a role in accelerating this market transition by advocating for clean energy solutions and influencing consumer behaviour.
Outright malice and disruption: While climate protests are generally driven by concerns for the environment and a desire for change, there have been instances (including today) where these protests have escalated to acts of outright malice and disruption to fossil fuel businesses. Unlawful protest actions such as physical disruption, sabotage, or cyber attacks have operational consequences to the business and ultimately impact profitability and returns to shareholders.
It's important to note that the impact of climate change activists on fossil fuel businesses can vary depending on factors such as the strength of the activist movement, political climate, and the overall energy transition progress in a given region or country.
— DK.. just some thoughts, do your due diligence and decide your own actions.
WDS Price at posting:
$34.16 Sentiment: Buy Disclosure: Held
(20min delay)