Money Managers Change Strategy on Flaring

摘要

Major money managers'direct appeal to Texas state regulators to limit flaring in the Permian Basin may represent a seismic shift in their attitude and strategy toward oil and gas producers as well as those that govern them.AllianceBernstein,California School Teachers'Retirement System (Calstrs) and Legal and General Investment Management handle assets under management worth more than $1 trillion.Their Sep.4 missive to the Texas Railroad Commission (RRC),which governs the state’s oil and gas industry,represents the first clear occasion in which major investors have opted to sidestep corporate negotiations on flaring (OD Sep.4’20).