SYDNEY/PERTH, Tuesday 25 February 2025 — Greenpeace Australia Pacific has condemned gas corporation Woodside’s annual earnings announcement today, saying its billion dollar profits come at the expense of Australian communities and nature on the frontlines of extreme weather disasters.
The fossil fuel multinational reported AUD$3.57 billion in net profits after tax for 2024, a 115% year-on-year increase, as output rose to a record high.
Joe Rafalowicz, Head of Climate and Energy at Greenpeace Australia Pacific, said: “With so many Australians struggling to pay for groceries or rent as the cost of living crisis rages on, it’s not right that fossil fuel corporations are raking in billions from destroying our planet.
“Communities across Australia are reeling from the extreme weather disasters unfolding every summer, which the Insurance Council estimates will cost $35.2 billion a year by 2050. It is immoral for fossil fuel corporations like Woodside to toast their profits today, while people on the frontlines are left to pick up the tab when floods or bushfires destroy their homes.
“As Ningaloo Reef suffers another mass coral bleaching, Woodside is hell-bent to ‘Drill Baby, Drill’ for even more polluting gas at neighbouring Scott Reef. We must not allow the nature we love to become another victim of the fossil fuel industry’s endless pursuit of profit.
“The era of rampant corporate greed must end — it’s time for fossil fuel polluters to pay for the climate destruction they are unleashing on communities in Australia, the Pacific and around the world. We must hold polluters like Woodside accountable for their propaganda and for knowingly holding back climate action in this country.
“Let’s invest in the proven climate solutions we have right now — renewable wind and solar energy backed by storage. Greenpeace will continue to advocate for clean, safe, affordable renewable energy that will reduce global emissions and ensure a livable planet for all.”
Policies to make polluters pay are gaining momentum around the world, with governments including New York and Vermont introducing legislation forcing fossil fuel companies to pay for the climate destruction caused by their emissions.
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