He said big institutional shareholders should back the boards of the companies they have invested in. "I’d make the point here that large investors need to stand behind companies they invest in and not side with simplistic AGM resolutions," Mr Goyder said.

“Our investors have a responsibility to understand our business and engage with the substance rather than indulging activists whose purpose is not to improve the performance of our corporations but to undermine them.”

The comments come as Woodside heads for a potential showdown with shareholder activists who last week lodged two climate-related resolutions ahead of the company's annual general meeting in April.

The Australian Centre for Corporate Responsibility (ACCR), an ethical investment group, filed a motion calling for the oil and gas giant to set and disclose targets to curtail greenhouse gas emissions caused by its drilling operations.

It also requested targets to reduce indirect emissions known as "Scope 3" emissions, which include the emissions caused by the end-users of its products.

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A second resolution calls for Woodside to review its links to industry associations including the Australian Petroleum Production and Exploration Association and the Business Council of Australia, accusing the groups of being "among the world's most obstructive lobbyists on climate policy".

Woodside is also facing the prospect of a disruptive campaign launched by climate and conservation groups over its proposed $50 billion Burrup LNG hub off the coast of WA. The ambitious concept forms part of a plan to double its oil and gas production by 2028.

"If taken to production, the Burrup Hub development would become Australia’s largest carbon polluting project," ACCR director of climate and environment Dan Gocher said.

"Woodside’s plans are simply incompatible with a safe climate and, if realised, may prevent Australia from meeting its commitments under the Paris agreement."

I’d make the point here that large investors need to stand behind companies they invest in and not side with simplistic AGM resolutions.

Richard Goyder

In a statement to the ASX last week, Woodside said it was "assessing the validity" of the resolutions.

Fielding questions from the audience after his speech, Mr Goyder would not be drawn on what contingency plans Qantas and the AFL have in place for a potential coronavirus pandemic saying you work with the facts and put in place the best plans you can.