EOG Commits to Methane Emissions Reductions
Trillium is pleased to announce that we have withdrawn a shareholder proposal at EOG Resources after the Company committed to reduce its methane emissions this year while establishing a quantitative methane emissions reduction goal for next year. Trillium and other investors have been in conversation with EOG about its management of methane and other greenhouse gas (GHG) emissions for many years. Withdrawal of this proposal, which was co-filed by Miller/Howard Investments, marks the latest milestone in our ongoing dialogue that has contributed to EOG taking meaningful action to reduce its methane emissions. We believe EOG’s new commitment to set both …
EOG Resources Commits to Improved Methane Emissions Disclosures and LGBT Protections
January 19, 2017 // Boston, MA – Trillium Asset Management is pleased to announce that oil and gas company EOG Resources, Inc. (EOG) has made substantial commitments to improve its methane disclosures and enhance protections for LGBT employees. Following a constructive dialogue, and subsequent to a shareholder proposal filed by Trillium on behalf of three of its clients, Miller/Howard Investments, and Mercy Investment Services, EOG has committed to publicly disclose a methane emissions percentage and several other methane emissions metrics spanning at least the past three years. This will give investors the ability to evaluate EOG’s emissions performance over time. Understanding …
Trillium Welcomes Final EPA Rules Regulating Methane Emissions
MAY 12, 2016: Today, the U.S. Environmental Protection Agency published its final rules for reducing emissions of methane from new and modified sources in the oil and natural gas industry. For years, investors have pressed companies to reduce their methane emissions with proven, cost effective, technologies and have supported intelligent policy solutions to cut methane waste. Recently, $3.6 trillion in investors spoke up in support of the Obama Administration’s methane policy announcements. These new rules are expected to reduce 510,000 short tons of methane in 2025, the equivalent of reducing 11 million metric tons of carbon dioxide. We believe this rule …
Trillium Leads Investors Worth $3.6Tr Supporting Joint U.S. and Canadian Limits on Methane Emissions from Oil and Gas Industry
Doubling of support comes as nations gather in New York City to sign the Paris Climate Agreement APRIL 21, 2016 // BOSTON, MA: As attention turns to the Paris Agreement signing ceremony on Friday, leading global investors representing $3.6 trillion in assets under management released a statement of support today for U.S. and Canadian efforts to limit methane emissions from the oil and gas sector. This represents a doubling of support since July 2015. “As widely diversified, long-term investors with holdings in the oil and gas industry, we share a vested interest in the industry’s long-term success,” says the statement, …
Investors Applaud Obama Administration Plans to Regulate Methane Emissions
March 10, 2016: Investors welcome the White House’s announcement today that the Administration will move forward with new rules to regulate methane emissions from existing sources in the oil and gas supply chain. We believe this rule is important because methane that leaks is lost revenue for companies and investors and methane is 86 times more potent as a greenhouse gas than carbon dioxide, over a 20-year period. While fracking is most commonly associated with hazardous impacts to water sources, methane “flares” and leaks are an all too common consequence of oil and gas extraction. The potent climate impact of …
EOG Resources – Methane Emissions – 2016
Whereas: Methane, the primary component of natural gas, is a greenhouse gas with over 80 times the climate impact of carbon dioxide over a 20-year period. Emissions from the oil and gas industry constitute the largest industrial source of methane emissions in the U.S. Estimates suggest approximately $2 billion of natural gas is lost each year in the U.S. There is, however, a great deal of concern that methane is leaking from the industry at a higher rate than thought. This uncertainty could shake public confidence in the environmental benefits of natural gas as studies indicate that, to maximize the …
Investors Worth $1.5 Trillion Support White House’s Methane Emissions Reduction Plan
BOSTON, MA // JULY 1, 2015: As recent data show methane emissions rising from the oil and gas industry, and the White House moves forward with rules to reduce this pollution, leading investors representing $1.5 trillion in assets under management released a statement of support today for a strong federal standard. “As widely diversified, long-term investors with holdings in the oil and gas industry, we share a vested interest in the industry’s long-term success,” says the statement, which was coordinated by Ceres and Trillium Assets Management. “Consistent with our fiduciary duties, we are concerned that methane emissions pose a serious …
Strong Public Policy on Methane Emissions from Natural Gas is Vital
By Jonas D. Kron, Esq., Director of Shareholder Advocacy It is well established that methane emissions are a serious climate problem. Methane is a highly potent greenhouse gas—as much as 84 times more powerful than carbon dioxide over a 20-year time period. The Intergovernmental Panel on Climate Change, the leading international body for the assessment of climate change, estimates that about 30% of the warming we will experience over the next two decades as a result of this year’s greenhouse gas emissions will come from methane. The entire oil and gas supply chain (from production through downstream uses) is the …
EOG Resources – Methane Emissions (2015)
Whereas: Public confidence in the environmental benefits of natural gas is threatened by evidence of high levels of methane leakage from the oil and gas industry in many regions. For example, a November 2013 study published in the Proceedings of the National Academy of Sciences shows the oil and gas sector in Oklahoma and Texas, where EOG has significant operations, may be emitting up to five times more methane than estimated by the EPA. Methane is a potent greenhouse gas with 86 times the climate impact of carbon dioxide over a 20-year period. Studies from Harvard, the University of Texas, …
Methane Emissions Report – ONEOK, Inc. (2014)
Whereas: Public confidence in the environmental benefits of natural gas is threatened by evidence of high levels of methane leakage from the oil and gas industry in many regions. A November 2013 study published in the Proceedings of the National Academy of Sciences shows the oil and gas sector in Oklahoma and Texas, where ONEOK has significant operations, may be emitting up to five times more methane than estimated. This study raises questions regarding the adequacy of current Environmental Protection Agency methods for measuring methane emissions. Methane is a potent greenhouse gas (GHG), with 86 times the climate impact of …
