Investors Urge EPA to Regulate Methane Emissions

A group of investors with more than $300 billion in assets under management have urged the EPA to regulate methane emissions in the oil and gas industry.

The agency is considering what measures it will take as part of President Obama’s Climate Action Plan – Strategy to Reduce Methane Emissions.

In a letter to the EPA, investors detail four reasons why comprehensive rulemaking on methane emissions from existing and future oil and gas facilities must be an urgent priority:

• Methane emissions are a serious climate problem.
• There are cost-effective solutions that will dramatically cut emissions now.
• It is insufficient to rely solely on voluntary initiatives and state-level action.
• Methane policy can reduce risk and create long-term value for investors and the economy.

Methane is a highly potent greenhouse gas — at least 84 times more powerful than carbon dioxide over a 20-year time period. This poses a risk to the climate and, in turn, economic stability and investment opportunities, the investors say.

Signatories of the letter include: New York City comptroller Scott Stringer, Trillium Asset Management, F&C Investments, Pax World Management, Portfolio 21, Arjuna Capital, Christopher Reynolds Foundation, Domini Social Investments, First Affirmative Financial Network, Calvert Investment Management, Friends Fiduciary Corporation, Miller/Howard Investments, Nathan Cummings Foundation, Tri-State Coalition for Responsible Investment, Domini Social Investments, Mercy Investment Services, Daughters of Charity, Province of St Louise, Mercy Health (formerly Catholic Health Partners), and Walden Asset Management.