Q&A with Tim Goodman, Hermes Investment Management
When burned, natural gas produces half the carbon as coal, so it is often touted as a “bridge” fuel to a cleaner energy future. But the carbon advantage of natural gas may be lost if too much of it escapes across its value chain.
Natural gas is mostly methane, which, unburned, is a highly potent greenhouse gas accounting for roughly a quarter of today’s global warming. Worldwide, oil and gas companies leak and vent an estimated $30 billion of methane each year into the atmosphere.
EDF’s Sean Wright sat down with Tim Goodman, Director of Engagement at London-based Hermes Investment Management. Goodman, who views methane management as practical self-help for the industry to pursue, engages with oil and gas companies on strategies to manage their methane emissions. This is the first of a two-part conversation with Hermes, a global investment firm, whose stewardship service Hermes EOS, advises $330.4 billion in assets. Read More
Since the 1892 discovery of oil in California, the oil and gas industry has been a major economic engine and energy supplier for the state. Although this oil and gas production may be broken down into dollars and barrels, it doesn’t tell the story of the potential impact of drilling activity on the lives of the people in Los Angeles and the Central Valley who live right next to these operations.