MELBOURNE (Reuters) – The proxy advisory firm Glass Lewis recommended Woodside. (OTC) Petroleum shareholders voted down the company’s Climate Report at this month’s annual meeting, saying that it lacks substance.

Woodside’s plans are behind those of other oil companies in tackling customer emissions. Glass Lewis stated this in a report that was seen by Reuters. Glass Lewis also expressed concern about Woodside’s dependence upon carbon offsets and not operational changes to reduce emissions.

Woodside also needs to explain its plans for spending the stated $5 billion green project investment goal by 2030.

Woodside’s climate plans have been condemned by the Australian Centre for Corporate Responsibility. Globally, investors are urging companies to implement climate plans. Even though the resolutions may not be binding, they will closely monitor the voting.

After Mike Cannon-Brookes, a tech billionaire bought a 11% share in AGL Energy (OTC), he has been able to bring climate activism in Australia into greater prominence. He is trying to close down Australia’s coal plants quicker by blocking any demerger plans.

Woodside will hold its annual meeting on May 19, where shareholders can vote on the proposed merger of BHP Group (NYSE) with Woodside. The proposal, which Glass Lewis supported, was deemed “logical” and “beneficial” by Woodside.

Glass Lewis reported that Woodside could benefit by acquiring BHP high-quality petroleum assets fairly cheaply if BHP is looking at valuations.

Woodside will give 48% to BHP shareholders as part of this deal.