At Kinder Morgan’s Annual General Meeting of shareholders, over 50% of shareholders voted for the resolution filed on behalf of the New York State Common Retirement Fund calling for greater sustainability disclosure.
The resolution, presented by Chief Judy Wilson, Neskonlith Indian Band (Secwepemc Nation) argued that environmental, social and governance (ESG) issues can pose significant risks to business, and without proper disclosure, stakeholders and analysts cannot ascertain whether the company is managing its ESG exposure.
The resolution points out that opposition to Kinder Morgan’s Trans-Mountain Pipeline from Canadian and Indigenous and community groups has already delayed Kinder Morgan’s operations to 2019.
Today’s vote exceeds last year’s 34.1% support in part because the resolution was backed by the US$457 billion California Public Employees Retirement System, and Norway’s US$1.3 trillion Government Pension Fund Global.
Read the article online at: https://www.worldpipelines.com/business-news/10052018/kinder-morgan-shareholders-vote-for-more-sustainability-disclosure/