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% …
Spectra Energy Shareholder Proposal on Methane Emissions Receives Strong Support from Shareholders
April 30, 2013: A shareholder proposal asking Spectra Energy Corp. (NYSE: SE) to issue a report about how the company is managing methane emissions received 35.3% of the votes cast by the shareholders at the company’s annual meeting today. The vote far surpasses the 3% threshold that is required by the SEC for inclusion in next year’s proxy voting. The proposal was filed by Trillium Asset Management, LLC (Trillium) on behalf of the Sierra Club Foundation and Paul Katz and co-filed by The Benedictine Sisters of Virginia, Friends Fiduciary Corporation, and Zevin Asset Management. Methane is the primary component of …
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 …
Fugitive Methane Emissions Report – ONEOK (2013)
WHEREAS: Natural gas development has been publicized for its superior environmental profile; fugitive methane emissions in the oil and gas sector represent one of the most rapidly growing sources of anthropogenic methane emissions in the US, contributing 20 percent of short-term global warming impact. The promise of natural gas as a bridge fuel to a more sustainable energy future is under question given the high short-term climate impact. The Intergovernmental Panel on Climate Change estimates that methane has 25x the impact on temperature as CO2 over a 100 year period and 72x the impact over a 20 year period. Methane is …
Fugitive Methane Emissions Report – Range Resources (2013)
WHEREAS: Natural gas development has been publicized for its superior environmental profile; fugitive methane emissions in the oil and gas sector represent one of the most rapidly growing sources of anthropogenic methane emissions in the US, contributing 20 percent of short-term global warming impact.The promise of natural gas as a bridge fuel to a more sustainable energy future is under question given the high short-term climate impact of methane emissions. The Intergovernmental Panel on Climate Change estimates that methane has 25x the impact on temperature as CO2 over a 100 year period and 72x the impact over a 20 year …
Fugitive Methane Emissions Report – Spectra Energy (2013)
WHEREAS: Natural gas development has been publicized for its superior environmental profile; fugitive methane emissions in the oil and gas sector represent one of the most rapidly growing sources of anthropogenic methane emissions in the US, contributing 20 percent of short-term global warming impact. The promise of natural gas as a bridge fuel to a more sustainable energy future is under question given the high short-term climate impact. The Intergovernmental Panel on Climate Change estimates that methane has 25x the impact on temperature as CO2 over a 100 year period and 72x the impact over a 20 year period. Methane is …
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