On March 12, 2024, HESTA announced that it has urged Woodside Energy to consider appointing new directors who are equipped to manage climate-related challenges. HESTA stated that it pushed the Company's board to undertake its own due diligence of HESTA's listed and other potential director candidates with similar skills, through its existing internal processes. HESTA added that ongoing governance, culture and capabilities are required for the Company to support the energy transition.

HESTA also stated that as part of this engagement, it shared with the Company for their consideration, independent and highly credentialed potential director candidates, whose new energy and business transformation skills we believe would add to the board?s current capabilities. HESTA stated that it views the Company should prioritize adding new energy and business transformation skills to its board.