So Cute! Kinder Morgan Shareholders Vote For Non-Binding Climate Reporting Resolutions
Kinder Morgan shareholders have voted in favour of two resolutions calling on one of North America’s largest energy infrastructure companies to improve reporting on its climate change impacts.
The vote at the company’s AGM in Houston on Wednesday sent a strong signal that shareholders want increased transparency around environmental risk, only three weeks before the company is set to decide whether to pull out of its troubled Trans Mountain pipeline expansion in Canada.
The expansion would triple the pipeline’s capacity to carry oil from Alberta’s oil sands to the B.C. coast, where the Canadian government says it can be sold to Asian markets. While the pipeline is championed by the Trudeau government and Alberta, it has hit a wall in B.C., where it is opposed by municipal governments, the provincial government, eco-activists and some First Nations. Critics say the company has not properly assessed or disclosed legal risks to the pipeline from First Nations who oppose it, and who hold significant rights in the battle against the $7.4 billion dollar project.
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The first, backed by Norway’s $1.3 trillion sovereign wealth fund, which invests profits from the country’s oil and gas production, called on Kinder Morgan to issue a report on methane leaks, which shareholders said were both a source of lost revenue and “a significant contributor to climate change.”
Ed. - of three resolutions, this is (of course) the one that failed. The other two are non-binding anyway.
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https://news.vice.com/en_ca/article/7xmzy9/kinder-morgan-shareholders-vote-to-improve-the-companys-climate-change-reporting