Norway wealth fund to back environmental resolutions at KMI meeting

|By:, SA News Editor

Norway’s sovereign wealth fund - the world's largest, at $1T - says it will support a resolution to be presented at Kinder Morgan’s (KMI -0.6%) annual shareholders meeting calling on the company to cut its methane emissions.

The motion is one of three to be presented at the KMI meeting that the fund will support and that the company’s management opposes; the others call on KMI to produce a report on sustainability and to assess the impact on its portfolio of policies that would limit a rise in global average temperatures to 2 degrees Celsius.

The fund, which had a 0.87% stake in KMI valued at $352M at year-end 2017, has been seeking to get the 9K firms in which it invests to disclose non-financial data such as carbon emissions related by climate change.

Subscribe for full text news in your inbox