Board of Australian Energy Giant Santos Survives Climate Criticism

A group of Santos Ltd. shareholders failed Thursday in their bid to fire the board of the Australian energy giant, but they succeeded in censuring members for “undermining” the company’s own climate claims.

Shareholders had attempted to hit Adelaide-based Santos with a “second strike” by voting against its remuneration report, forcing a vote to fire the board. The shareholders had urged others to vote against rewarding the executive’s performance because they said it was “inconsistent with the company’s claimed support for the climate goals of the Paris Agreement.”

Their bid failed, as nearly 90% of shareholders backed the ...