Woodside’s latest report a ‘fail’ despite profit more than tripling, climate activists say

Critics say energy giant's windfall gain from price rises in wake of invasion of Ukraine will likely prove short-lived as markets accelerate shift to renewables

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Woodside faces more challenges of its climate stance at its upcoming shareholders gathering with activist groups dismissing its latest annual report as a fail".

The energy giant on Monday released its climate report 2022 while also revealing its underlying profit had more than tripled to US$5.2bn ($7.7bn). A 63% increase in energy prices to US$98.40 a barrel of oil equivalent in the wake of Russia's invasion of Ukraine buoyed results that fell about 9% shy of investors' expectations.

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