UPDATE: BC First Nations Chief delivers tough message to Kinder Morgan shareholders
Indigenous leaders from Canada have been successful in getting a resolution passed at the Annual General Meeting of Kinder Morgan shareholders in Houston, Texas today (Wednesday).
Chief Judy Wilson of the Neskonlith Band, a member of the Secwepemc Nation in BC's interior, addressed shareholders -- telling them Kinder Morgan's current Trans Mountain pipeline runs through over 500 kms of their territory, and the nation is fighting the project in court citing a "crucial lack of consultation".
She warns the company "misinterprets Canadian law at your own peril" adding her nation does not believe the risks of the project have been accurately evaluated or fully disclosed.
And she promised if the Canadian government tries to minimize political or financial risks, the nations will not stop fighting because the project threatens their culture, spirituality and identity.
Chief Wilson told the group a lot of time and money has been spent on a project affected by environmental, social and governance issues, and had the company been required to issue regular sustainability reports the expenses could have been avoided.
Wilson presented a resolution from the New York State Common Retirement fund calling on Kinder Morgan to issue annual sustainability reports detailing the company's risks -- something Kinder Morgan strongly opposed.
But, backed by 3 of the world’s largest investors, with a combined $450 million in Kinder Morgan shares, the resolution passed. Wilson says it demonstrates an unprecedented shift in stockholder sentiment.
The vote is not binding, but shareholders hope it will serve as a major wakeup call for the company.
Meantime there are less than 2 weeks left before Kinder Morgan's deadline to abandon the project unless the Province gives up its efforts to pursue a reference case over the project.