UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next
Author: emschulze Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2247  
Subject: Re: Oil & gas companies CAN be green Date: 12/27/2000 4:01 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
BOSTON, Dec. 27 /PRNewswire/ -- KLD & Co., Inc., a provider of social research services for institutional investors, announced today that it has added a pair of Texas natural gas companies, Kinder Morgan, Inc. (NYSE: KMI - news)* and Mitchell Energy and Development Corp. (NYSE: MND - news), to its benchmark Domini 400 Social Index (DSI 400).

The newest additions increase the DSI 400's exposure to the energy sector, which tends to be underrepresented in environmentally and socially screened indexes. Launched in May 1990, the DSI 400 was the first benchmark for equity portfolios subject to multiple broad-based social screens. The DSI 400 is a market capitalization-weighted common stock index modeled on the S&P 500.

``Kinder Morgan and Mitchell Energy have commendable environmental and social records. These attributes make them precisely the type of energy companies KLD looks for as additions to the DSI 400,' said KLD research analyst Kyle Johnson, spokesman for the DSI committee. ``Mitchell Energy has been forward-thinking in its approach to the environment since 1972. Kinder Morgan stands out in its industry for the company's emphasis on diversity in its workforce, and its generous employee benefits program.'

Kinder Morgan, Inc. (KMI)*, based in Houston, TX is one of the largest midstream energy companies in America, operating more than 30,000 miles of natural gas and product pipelines in 26 states, with market cap of over $5.6 billion.

KMI has one woman in a senior line executive position, Deborah A. McDonald, who is president of the KMI's Natural Gas Pipeline Company of America (NGPL) subsidiary. In its unusually liberal employee benefits package the company offers 12 weeks of paid maternity leave, health and other benefits coverage to same-sex domestic partners of its employees, stock options to all employees at point of hire, and a cash profit sharing program that has paid out every year since 1997. In addition, the company derived virtually all of its FY 1999 revenues from natural gas, a fuel with substantial environmental advantages over oil and coal.

Mitchell Energy and Development is a natural gas and oil exploration and production company with a market cap in excess of $3 billion, ranking it among the nation's largest independent producers of natural gas and natural gas liquids (NGLs). The company finds, develops and produces natural gas and oil, primarily onshore in Texas, and enhances the value of these assets through its gas gathering, processing and marketing operations.

In 1972 the company's CEO, George Mitchell, founded the Center for Global Studies, a university-coordinated program focusing on sustainable development through studies of resource constraints, economic growth, and environmental quality. In 1999 Mitchell used an idle production platform to create an artificial reef off the coast of Galveston, TX, and contributed $300,000 towards its maintenance. The Texas Parks and Wildlife department commended the project and the reef has become a breeding ground for local fish. Since 1991, the company has created 45 acres of marsh habitat in the Aransas National Wildlife Refuge for the endangered whooping crane.

ABOUT KLD

Headquartered in Boston, KLD provides social research for institutional clients who wish to integrate social criteria into their investment decisions. To meet the needs of social investors, KLD offers performance benchmarks, corporate accountability research, and compliance and consulting services comparable to those provided by financial research service firms.

KLD recently announced the launch of the KLD Broad Market Social Index (BMSI). The BMSI is the most extensive social investing benchmark available, including all Russell 3000 companies that pass KLD's multiple broad-based social screens (roughly 2300.)

- Kinder Morgan is in no way associated with KLD.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement