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% …
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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