Trillium Submits Comments in Support of EPA’s Proposed Methane Rule
DECEMBER 4, 2015: Trillium Asset Management recently submitted its formal comments in support of the U.S. Environmental Protection Agency’s (EPA) proposed methane rule for new and modified sources in the oil and gas industry. Trillium joins members of the Interfaith Center on Corporate Responsibility (ICCR) who are engaging the oil and gas industry to promote more sustainable practices. On Thursday, December 3rd, ICCR hand-delivered comments to EPA Acting Assistant Administrator Janet McCabe in support of its proposed regulation to curb methane emissions leaks for new or modified fracking operations. We believe this rule is important to investors because methane that …
NYC Comptroller Scott M. Stringer and Trillium Lead Investor Group Calling on EPA to Propose Strong Methane Regulations
October 9, 2014: Today, a group of investors with more than $300 billion in assets under management strongly urged U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy to initiate a comprehensive national regulation addressing major sources of methane emissions in the oil and gas industry. In a letter to the EPA, investors detailed four reasons why comprehensive rulemaking on methane emissions from existing and future oil and gas facilities must be an urgent priority: • Methane emissions are a serious climate problem. • There are proven, cost-effective solutions that will dramatically cut emissions now. • It is insufficient to rely …
The Hill: EPA Chief Pushes Economic Case of Capturing Methane
Over the past few years, Trillium has filed or co-filed shareholder proposals with natural gas companies asking them to report on measuring, mitigating, setting reduction targets, and disclosing methane emissions. Methane, the primary component of natural gas, is emitted across the value chain during production, processing, transmission, storage, and distribution. It is a potent greenhouse gas (GHG), with 86 times the climate impact of carbon dioxide over a 20-year period. Emissions have not been tightly regulated, measured, monitored, mitigated, or disclosed, creating a risk to industry, operators, and environment alike. As shareholders, Trillium has also made the argument that methane …
Fugitive Methane Shareholder Proposals Receive Strong Support from Investors
Spectra Energy, Oneok, and Range Resources shareholders call for greater transparency into the environmental profile of natural gas; Range responds with an aggressive attack on shareholder rights. FOR IMMEDIATE RELEASE May 23, 2013: A series of strong shareholder votes have sent a clear message that natural gas companies must do much more to address fugitive methane leakage and management. Shareholder proposals asking Houston-based Spectra Energy (NYSE: SE), Tulsa-based Oneok (NYSE: OKE), and Fort Worth-based Range Resources (NYSE: RRC) to issue reports on how they are managing high-climate-change-impact methane emissions have received favorable votes from company shareholders: 35.4%, 38.2%, and 21.7% …
ExxonMobil – Greenhouse Gas Emissions Reduction (2007)
WHEREAS ExxonMobil Corp. “is the world’s largest petroleum and petrochemical enterprise,” and “largest net producer of hydrocarbons in Europe”; “ExxonMobil recognizes that the impact of greenhouse gas emissions [GHG] on society and ecosystems may prove to be significant”; ExxonMobil faces potential strategic challenges from “the competitiveness of alternative hydrocarbon or other energy sources” (2006 10K); Leaders of 25 corporations, including KLM, Statoil, GE International, and Shell UK, wrote European Commission President Barroso (11/27/06) urging “policy inconsistencies and perverse incentives that undermine the effectiveness of climate policy should be eliminated…” and “that scientific opinion across the world is virtually unanimous in …
Anadarko – Greenhouse Gas Emissions Reduction (2007)
WHEREAS Anadarko’s operates in four countries worldwide that have ratified the Kyoto Protocol, which obliges industrialized countries to reduce national greenhouse gas (GHG) emissions below 1990 levels by 2012, and provides financial incentives for non-industrialized participants to reduce their GHG emissions. Since Kyoto was adopted, the urgent need for action to prevent the most damaging effects of climate change has become increasingly clear. To avoid the most dangerous impacts of climate change, experts believe that we must hold CO2 emissions at or near 2004 levels for the next 50 years, but emissions are continuing to rise. British finance minister Gordon …
Investors Call for Continued Support of Paris Climate Agreement
January 11, 2017 // Boston, MA – In November 2016, Trillium Asset Management joined over 300 investors and companies as signatories of the “Business Backs Low-Carbon USA” letter urging the incoming administration and elected leaders to support the Paris Climate Agreement and public policy helping to advance a low-carbon economy. Yesterday, ahead of the incoming administration, the statement was re-released after the number of signatories grew to 637 investors and companies. The letter calls for U.S. leaders to support the following: “With tens of billions of dollars of U.S. renewable energy investment in the works this year alone, and far …
Post-Election Landscape: The Value of Shareholder Advocacy to Inclusiveness, Climate Change, and Economic Inequality
December 8, 2016// Boston, MA: Given the many potential and real challenges to our work from the incoming Administration, we believe it is important for investors to provide clear policy direction that supports sustainable economic growth. Three critically important areas that Trillium will be working on include: Inclusiveness, climate change, and economic inequality. Much of our advocacy work over the last few years has focused on these areas and we believe it will be even more important to continue engagement with companies and policy-makers on these core issues. Inclusiveness: We have been particularly active in encouraging protection of LGBT rights …
Whole Foods Market – Food Waste (2017)
Whereas: 40% of food produced in the U.S. goes uneaten, costing the American economy $218 billion per year, or 1.3% of GDP. Food decomposing in landfills emits approximately 23% of U.S. methane emissions, a greenhouse gas 84 times as potent as CO2. Production of uneaten food consumes 21% of U.S. freshwater, 19% of fertilizer and 18% of cropland. If global food waste were a country, its emissions would be 3rd, behind only China and the United States. Nearly 50 million Americans, including 16 million children, are food insecure; reducing food waste by just 15% could feed 25 million people every …
Costco – Food Waste (2017)
Whereas: 40% of food produced in the U.S. goes uneaten every year, costing the U.S. economy $218 billion, or 1.3% of GDP. Approximately 23% of U.S. methane emissions (a greenhouse gas 80 times as potent as CO2) result from food decomposing in landfills. Production of uneaten food consumes 21% of freshwater, 19% of fertilizer and 18% of cropland. Globally, if food waste were a country, its emissions would rank 3rd. Food recovery programs can help feed the nearly 50 million food insecure Americans. Wasted food presents financial opportunities; various retailers are implementing programs to save some of the $57 billion …