Support for shareholder proposal on methane emissions management at Kinder Morgan

Norges Bank Investment Management will vote in favour of the shareholder proposal on methane emissions management, and all other resolutions put forth to shareholder approval at the Annual General Meeting of Kinder Morgan Inc on 9 May 2018.

8 May 2018

Our rationale

We will support the shareholder resolution asking for a report reviewing Kinder Morgan Inc’s policies, actions and plans to measure, monitor, mitigate, disclose and set quantitative reduction targets for methane emissions from all operations, including storage and transportation.

We encourage companies to integrate material climate change challenges and opportunities in their business management. Companies engaged in activities with large greenhouse gas emissions or intensities, including fugitive methane emissions, should have a strategy addressing a transition to a low-emissions energy system and should develop a framework to monitor such emissions.

We encourage the transparent disclosure of material greenhouse gas emissions to appropriate, internationally recognised reporting initiatives to better enable investors to analyse climate-related risks and opportunities. For example, the supplemental guidance of the Task Force on Climate-related Financial Disclosures (TCFD) encourages companies in the energy sector to disclose fugitive emissions. Benchmarks and targets, and performance against these, should be quantified where relevant.

Our expectations on climate change strategy