22 August 2017
Resolutions for consideration at Origin’s Annual General Meeting
In accordance with ASX Listing Rule 3.17A, the Company gives notice that the attached resolutions for consideration at the Company’s Annual General Meeting to be held on 18 October 2017 have been received under section 249N of the Corporations Act from 129 shareholders representing approximately 0.0169% of shares on issue.
The ASX Listing Rules require Origin to lodge this notice within two business days of receipt of the requisition.
Origin respects the right of shareholders to requisition resolutions. The resolutions have been promoted by Market Forces as part of its climate change campaign.
Origin’s Notice of Annual General Meeting will be published in September and will include an assessment of the validity of the resolutions and the Board's recommendation on each resolution to be considered at the meeting.
Resolution 1 – Amendment to the Constitution:
To amend the constitution to insert at the end of clause 8.3 ‘Notice of general meetings’ the following new sub-clause 8.3(e) ‘The company in general meeting may by ordinary resolution express an opinion or request information about the way in which a power of the company partially or exclusively vested in the directors has been or should be exercised. However such a resolution must relate to a material risk as identified by the company and cannot either advocate action which would violate any law or relate to any personal claim or grievance. Such a resolution is advisory only and does not bind the directors or the company.
Resolution 2 – Climate Risk Disclosure
That in order to address our interest in the longer-term success of the company, given the recognised risks and opportunities associated with climate change, we as shareholders of the company request information about the company’s exposure to climate change-related risks. Such information should be provided in routine annual reporting from 2018, in accordance with the final recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).
Resolution 3 – Transition Planning
That in order to address our interest in the longer term success of the company, given the recognised risks and opportunities associated with climate change, shareholders request information on how the company plans to transition to low-carbon technologies in order to manage the material risks from fossil fuel dependency. Such information should be provided in routine annual reporting from 2018, and should:
- Provide emissions-reductions targets (short, medium, long-term) that will result in 95% clean energy generation by 2050 (base year: 2017);
- Explain how the company’s capital expenditures, remuneration structure and its approach to public policy lobbying align with its transition strategy.
Resolution 4 – Short-lived Climate Pollutants
That in order to address our interest in the longer term success of the company, given the recognised risks and opportunities associated with climate change, we as shareholders of the company request information on the company’s strategy to accurately and comprehensively measure and reduce ‘short-lived climate pollutants’ (SLCPs), particularly fugitive methane emissions. Such information should be provided in routine annual reporting from 2018.
Group Manager, External Affairs
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Group Manager, Investor Relations
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