March 10, 2016: Investors welcome the White House’s announcement today that the Administration will move forward with new rules to regulate methane emissions from existing sources in the oil and gas supply chain.
We believe this rule is important because methane that leaks is lost revenue for companies and investors and methane is 86 times more potent as a greenhouse gas than carbon dioxide, over a 20-year period. While fracking is most commonly associated with hazardous impacts to water sources, methane “flares” and leaks are an all too common consequence of oil and gas extraction. The potent climate impact of leaking methane lessens natural gas’ ability to play a role in a cleaner energy mix.
For years, investors have pressed companies to reduce their methane emissions with proven, cost effective, technologies and have supported intelligent policy solutions to cut methane waste.
So today, Trillium applauds the Administration’s announcement and following our review of the details, we look forward to encouraging the Administration to move forward with comprehensive and rigorous rules. Now is not the time for industry and its trade associations to fight this initiative – it is time for them to become part of the solution.
For more information: Randy Rice, Trillium Asset Management, (617) 515-6889, firstname.lastname@example.org