January 15, 2019
Trillium Asset Management is the oldest investment advisor focused solely on sustainable and responsible investing and we’re proud to manage Plymouth Church’s investment portfolio. One important part of our approach to responsible investing is to use our voice as shareholders to hold companies accountable for their impacts on society. In fact, that is exactly what I do in my role as a shareholder advocate.
You may recall that I wrote a summary here last spring about our efforts to encourage The Middleby Corporation to enhance its workplace policies and minimize its environmental impact. I’m happy to share another notable outcome – we successfully encouraged EOG Resources to set methane emissions reduction targets.
EOG is an oil and gas producer. The Plymouth Portfolio owns a minimal holding in EOG to be able to pursue shareholder advocacy activities with the company. As you may know, methane emissions from the oil and gas industry are a major source of greenhouse gas emissions in the U.S. As methane is the primary component of natural gas, methane emissions also represent the loss of potential revenue. We engaged EOG on this issue for many years and Plymouth Church has been a vital component of this process. Thanks to support of our clients in these engagements, we can achieve positive change in company practices like we have at EOG.
While our work with EOG has already contributed to the Company reducing its methane emissions, we’re now encouraged by EOG’s commitment to set targets, which will help ensure it continues to reduce emissions going forward.
This is a complete reversal from the Company’s previous position, where it said it could not set emissions reduction targets, and a clear signal that our persistence has paid off. This change demonstrates the latest example of how Trillium enables engaged clients like Plymouth Church to align its investments with its values. – Allan Pearce, Shareholder Advocate, Trillium Asset Management, LLC
Disclosure: This information is not a recommendation to buy or sell the securities mentioned. It should not be assumed that investments in the securities mentioned have been or will be profitable. The author selected the securities to illustrate certain views and it does not represent all securities purchased, sold or recommended.