Actionable news
0
All posts from Actionable news
Actionable news in KMI: KINDER MORGAN Inc,

Notice of exempt solicitation

Shareholder Supporting Memo and

Rebuttal to Kinder Morgan’s Opposition Statement to

Stockholder Proposal Regarding Methane Emissions

Name of Registrant: Miller/Howard Investments, Inc.

Name of Person Relying on Exemption: Miller/Howard Investments, Inc.

Address of Person Relying on Exemption: 10 Dixon Avenue, Woodstock, NY 12498

Stockholder Proposal Regarding Methane Emissions

This proposal has been filed by Helen Hamada, acting through Miller/Howard Investments, Inc. ("Miller/Howard"). It raises concerns about Kinder Morgan, Inc.’s policies regarding methane emissions from Kinder Morgan’s oil/gas production as well as its large gas distribution and transport operations. Miller/Howard is asking the company to review and report on its policies, practices, and metrics related to the company’s methane emissions risk management strategy.

Miller/Howard has filed similar proposals with the company for the past two years. Support for the proposal has grown each year with last year’s support garnering over 22% of the vote FOR the proposal.

We acknowledge and commend Kinder Morgan for establishing an Environmental, Health & Safety Committee in 2015. However, the establishment of the committee has not significantly altered how the Company addresses methane emissions, nor improved its disclosures to investors. We additionally commend the Company for its participation in various voluntary reporting trade organizations and regulatory entities. However, reporting to these organizations and regulatory entities does not provide the detailed disclosure that investors are seeking with regard to policies, practices and metrics that can provide insight as to how the Company is managing its methane emissions.

Methane is the primary component of natural gas and accounts for approximately 10% of total U.S. greenhouse gas (GHG) emissions. 1 According to the Environmental Defense Fund (“EDF), “about 25% of the manmade global warming we are experiencing today is caused by methane emissions.” 2 Although methane does not linger in the atmosphere as long as carbon dioxide, it absorbs and traps heat more than carbon dioxide. 3 The Environmental Protection Agency (EPA)...


More