Joined April 2010
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6 Photos and videos
7 Apr 2025
ExxonMobil, which historically has led the S&P500 in number of shareholder proposals, this year has precisely zero on the ballot- sec.gov/ix?doc=/Archives/edg…
The benefit of threatening your shareholders with lawsuits if they file, I guess?
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15 May 2024
Great piece in today's NYT by @cflav on the ways in which climate change is hollowing out insurance availability in the US. I guess Ceres was just 20 years early with our report warning of this future: insurance.lbl.gov/media/cere…
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28 Mar 2024
Just a reminder that $XOM, given the opportunity to nominate ANYONE in the business world for its board last year, chose the independent chair of $BA, which even a year ago was under a cloud for its safety record. Will investors support Larry Keller's renomination? If so, why?
6 Dec 2022
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7 Feb 2024
Consolidation continues among CA oil producers. Interesting that IKAV paid $4B for these assets two years ago, and today's merger values them at half that: businesswire.com/news/home/2…
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7 Feb 2024
Will be interesting to see if/when CRC extends its net zero target to these new assets.
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11 Jul 2023
Fascinating piece from @benmorenne on a part of the O&G industry that doesn't get much attention, but is actually critical to its climate footprint. No matter how good a steward of its aging assets Hilcorp is, these are always going to be high emitting assets.
11 Jul 2023
Last year, the richest oil baron you've never heard of took to the podium at the University of Texas at Austin: “Smite the rocks with the rod of knowledge, and fountains of unstinted wealth will gush forth." My profile of Jeff Hildebrand
wsj.com/articles/wealthiest-…
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11 Jul 2023
In a world that is seeking to decarbonize, one of the most obvious steps to reduce emissions is to simply shut in wells before they reach this stage—but that is precisely the point in a well's evolution that Hilcorp seeks to buy.
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11 Jul 2023
This is clear from EPA data, which show that Hilcorp's emissions far exceed those of its peers with similar production. This is not necessarily because Hilcorp isn't a good steward, but it is inherent in its business model and as a result can't be fixed:erm.com/news/methane-benchma…
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25 May 2023
When a company announces that a shareholder proposal has passed, but doesn't give the vote % it usually means the actual #s are an embarrassment to management. Turns out this was the case with Coterra $ctra where an amazing 74.4% of shares supported this year's methane proposal
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9 May 2023
Management that is at the receiving end of shareholder proposals on climate issues typically sees value in constructive engagement. And then there is Valero $VLO, which proponent @MH_Investment accuses of lying in its response to investors: sec.gov/Archives/edgar/data/…
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9 May 2023
to be clear, it looks like $VLO IS lying in its claim that ISS has judged its climate strategy to be "exemplary."
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4 May 2023
Getting word that the shareholder proposal calling on Coterra $CTRA to report on the accuracy of its methane emissions disclosure PASSED at today's AGM.
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4 May 2023
Congrats to proponents Vermont PIC and Trinity Health. Methane emissions accounting is a huge issue in the oil and gas sector, with studies showing that current estimate-based inventories under-reporting true emissions levels by 60-90% per @EnvDefenseFund
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22 Mar 2023
Objectively, this announcement by Chubb re: methane requirements for its O&G clients sets a fairly low bar--companies just need to have a plan. Still, compared to where Chubb was a decade ago when I used to engage them on climate risk this is a major move: news.na.chubb.com/2023-03-22…
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22 Mar 2023
I have vivid memories of a meeting with large investors to discuss climate risk, where at the end of the meeting the company's risk officer said to the assembled group-"Thanks for wasting our time. I hope you enjoy your dividends."
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22 Mar 2023
I know that this announcement isn't what activists are looking for, and I think it will need to get much stronger over time, but this is another important signal to the market that climate risk=financial risk.
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13 Dec 2022
While this $etrn leak happened last month, we are just getting solid numbers on the amount of methane that escaped and they are sobering, to say the least:
bloomberg.com/news/articles/… via @business
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