Trillium’s Open Letter to Spectra Energy Shareholders Regarding Methane Emissions Proposal

Trillium Asset Management (Trillium) has published an open letter to Spectra Energy (NYSE: SE) shareholders urging them to vote “FOR” PROPOSAL 5 on the proxy card, which asks the Company how it is managing the economic and regulatory risks related to methane leakage in the Company’s operations.

The shareholder proposal makes the following request of Spectra Energy:

“Shareholders request that the Board of Directors publish a report (by October 2013, at reasonable cost, and omitting proprietary information) for investors on how Spectra Energy is measuring, mitigating, and disclosing methane emissions.”

After reviewing the proposal, Institutional Shareholder Services (a division of MSCI and the leading provider of proxy voting advice) has recommended a vote in favor of the proposal:

“A vote FOR this proposal is warranted, as shareholders would benefit from additional information on how the company is managing its methane emissions. Such information, including quantitative emissions goals, would allow shareholders to assess relevant company performance.”

You can read Trillium’s letter here.