Support for shareholder proposal on methane emissions management at Kinder Morgan
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
Kinder Morgan Inc resolutions
NUMBER | PROPOSAL | MANAGEMENT RECOMMENDATION | VOTING INTENTION |
---|---|---|---|
Management proposals for Annual General Meeting | |||
NUMBER1.1 | PROPOSALElect Director Richard D. Kinder | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.2 | PROPOSALElect Director Steven J. Kean | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.3 | PROPOSALElect Director Kimberly A. Dang | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.4 | PROPOSALElect Director Ted A. Gardner | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.5 | PROPOSALElect Director Anthony W. Hall, Jr. | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.6 | PROPOSALElect Director Gary L. Hultquist | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.7 | PROPOSALElect Director Ronald L. Kuehn, Jr. | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.8 | PROPOSALElect Director Deborah A. Macdonald | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.9 | PROPOSALElect Director Michael C. Morgan | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.10 | PROPOSALElect Director Arthur C. Reichsteer | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.11 | PROPOSALElect Director Fayez Sarofim | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.12 | PROPOSALElect Director C. Park Shaper | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.13 | PROPOSALElect Director William A. Smith | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.14 | PROPOSALElect Director Joel V. Staff | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.15 | PROPOSALElect Director Robert F. Vagt | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER1.16 | PROPOSALElect Director Perry M. Waughtal | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER2 | PROPOSALRatify PricewaterhouseCoopers LLP as Auditors | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER3 | PROPOSALAdvisory Vote to Ratify Chief Executive Officer Compensation | MANAGEMENT RECOMMENDATIONFor | VOTING INTENTIONFor |
NUMBER4 | PROPOSALAdvisory Vote on Say on Pay Frequency | MANAGEMENT RECOMMENDATIONThree year | VOTING INTENTIONThree year |
Shareholder proposals for Annual General Meeting | |||
NUMBER5 | PROPOSALReport on Methane Emissions Management | MANAGEMENT RECOMMENDATIONAgainst | VOTING INTENTIONFor |
NUMBER6 | PROPOSALReport on Sustainability | MANAGEMENT RECOMMENDATIONAgainst | VOTING INTENTIONFor |
NUMBER7 | PROPOSALAssess Portfolio Impacts of Policies to Meet 2 Degree Scenario | MANAGEMENT RECOMMENDATIONAgainst | VOTING INTENTIONFor |