FFC has engaged with oil and gas companies for a number of years on the issue of methane emissions. Methane is 86 times more potent than CO2 as a greenhouse gas and there is a very strong business case for the companies to pursue a robust LDAR (Leak Detection and Repair) program to minimize emissions from their operations. As noted in our formal comment letter to the EPA, “Methane emissions threaten natural gas’ reputation as a less environmentally impactful fuel source” that many see as a necessary bridge to scaling up renewable energy. Further, by loosening regulations the EPA is rewarding those companies that have not taken steps to reduce emissions, in other words the industry laggards.
As long term, faith based investors we believe the EPA’s proposed rules are both bad for the environment and bad for business.