Overview
- A federal judge in Sydney dismissed the shareholder suit alleging Santos misled investors about its net‑zero pathway and “clean” gas claims.
- Detailed reasons for the ruling are due to be published next week, according to reporting on the decision.
- ACCR had challenged statements from a December 2020 investor day and 2020 reports describing natural gas as “clean” and blue hydrogen as “zero emissions.”
- Santos argued its 2040 net‑zero goal was a target rather than a promise and said “clean” labels were used in connection with carbon credits.
- The suit sought injunctions for corrective notices rather than damages in a test of how companies present climate plans and fuel descriptions.