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Kinder Morgan Issues 2020 Environmental, Social and Governance Report
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Rhea-AI Summary
Kinder Morgan, Inc. (NYSE: KMI) published its 2020 Environmental, Social and Governance (ESG) report, marking the first inclusion of company-wide Scope 1 and Scope 2 greenhouse gas (GHG) emissions data. The report, fulfilling a prior commitment, reveals a methane emission intensity rate of 0.04%, outperforming its 2025 target of 0.31%. Furthermore, KMI is investing in renewable energy to enhance its climate change strategy and has initiated pilot projects for responsibly sourced natural gas in Colorado and the Northeast U.S.
Positive
Publication of 2020 ESG report with Scope 1 and Scope 2 emissions data.
Achieved methane emission intensity rate of 0.04%, surpassing 2025 target.
Investment in renewable natural gas and pilot projects for responsibly sourced gas.
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None.
First report to include company-wide greenhouse gas (GHG) Scope 1 and Scope 2 emissions data
HOUSTON--(BUSINESS WIRE)--
Kinder Morgan, Inc. (NYSE: KMI) announced today the publication of its 2020 Environmental, Social and Governance (ESG) report. This report further enhances the company’s ESG disclosure by including company-wide Scope 1 and Scope 2 GHG emissions and GHG emissions intensity, fulfilling its commitment in the 2017 ESG Report to report this data by 2021. The 2020 report also includes KMI’s procurement-related spend with diverse suppliers and expands the disclosure of other metrics such as water usage and contractor safety.
“We are excited to report on our Scope 1 and Scope 2 GHG emissions for the first time,” said KMI’s Chief Operating Officer James Holland. “This deeper analysis of our emissions and emission sources enables us to take the first steps toward establishing achievable GHG emission reduction targets. It also helps us to effectively make further GHG reductions across our asset footprint.”
KMI remains committed to implementing methane reduction strategies to avoid methane emissions, a potent GHG, that otherwise would have been emitted during operations. As a result of this focus, the company achieved a methane emission intensity rate in 2020 of 0.04% of methane emissions per unit of natural gas throughput on its transmission and storage assets, surpassing its 2025 methane intensity target of 0.31% for the fourth year in a row.
In addition to reducing methane emissions from its operations, KMI pursued opportunities to address climate change by expanding its natural gas transmission and LNG businesses and investing in renewable natural gas, biodiesel, ethanol and renewable diesel. The company has also joined three pilot projects that bring together players across the energy value chain to transport responsibly sourced natural gas to communities in Colorado and the Northeast United States. Additionally, KMI is using its newly formed energy transition ventures group to identify, analyze, and pursue additional commercial opportunities emerging from the transition to low carbon energy.
The 2020 ESG report is available on the KMI website on the ESG Reports page. In addition, an updated presentation with information from the 2020 ESG report is available on the Events and Presentations page on the investor relations section of the KMI website.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning KMI’s business strategy and reduction of greenhouse gas emissions. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the assumptions, risks and uncertainties described in KMI’s ESG report and its reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.
What is the significance of Kinder Morgan's 2020 ESG report?
The report includes company-wide Scope 1 and Scope 2 GHG emissions data, marking an important step in transparency and sustainability efforts.
How did Kinder Morgan perform on methane emissions in 2020?
Kinder Morgan achieved a methane emission intensity rate of 0.04%, significantly lower than its 2025 target of 0.31%.
What initiatives is Kinder Morgan pursuing to address climate change?
KMI is expanding its investment in renewable energy, including renewable natural gas, and has engaged in pilot projects for responsibly sourced natural gas.
Where can I find Kinder Morgan's 2020 ESG report?
The 2020 ESG report is available on Kinder Morgan's website under the ESG Reports section.
