Development of Corporate ESG Strategy and Report

Challenges

Kinder Morgan, one of the largest energy infrastructure companies in North America, was seeking support in developing an ESG data collection and external reporting strategy, aligned with the SASB and TCFD disclosure frameworks in response to investor inquiries. The data collection and external reporting strategy included support with companywide GHG emission inventories with operations in over 40 states and approximately 1,700 sites.

Solutions

Working with Kinder Morgan’s corporate team, TRC provided sustainability planning and reporting expertise and guidance relative to strategies, goals, implementation plans, engagement tactics, measurement protocols, reporting and communication approaches, and other relevant aspects. Our initial engagement consisted of developing a 5-year reporting strategy to collect and report relevant metrics across 1,700 sites in 5 different business units, through:

• Benchmarking industry competitors’ reporting maturity
• Assessing current data availability, collection methods and gaps
• Conducting a materiality assessment
• Developing a 5-year roadmap for external disclosures in line with SASB standards for the oil and gas midstream and other relevant industry sectors
• Providing a 5-year annual implementation budget for financial and human resources, including breakdown of staffing headcount and non-labor costs

TRC also provided significant support in GHG data collection/verification, policy drafting and support for client’s 2-degree C scenario analysis. The GHG support included development of a GHG Emissions Inventory Protocol (GHGIP), GHG emission quantification, data collection and supporting documentation for inventory, development of a GHG Data Quality Management Plan (QMP), which encompasses all facilities and operations across all Kinder Morgan business units, and support for third party GHG inventory verification and data assurance.