Sustainable Impact Investing is gaining traction not only with Argus Research clients but also with the global investment community. As assets have flowed in over the past 40 years, Sustainable Investing has evolved. The discipline, originally known as Socially Responsible Investing, first focused on excluding companies that conducted business in South Africa, or participated in industries such as tobacco, alcohol, and firearms. In time, the list of industries to avoid increased to include soft drinks, fast food, and oil and gas, among numerous others. Performance of initial strategies lagged, and the approach has been modified. Now, instead of merely identifying industries to avoid, the discipline promotes "sustainable" business practices across all industries that can have an "impact" on global issues such as climate, hunger, poverty, disease, shelter, and workers' rights. Given the strategy's focus on leading management practices, we expect the growth curve for Sustainable Investing to again slope upward in the years ahead.

Kinder Morgan Inc. is one of the largest natural gas transmission and storage companies in North America. After going private in May 2007, it went public again in February 2011 via a $3.3 billion initial public offering. Following a late 2014 consolidation of its former operating entities, Kinder Morgan Energy Partners LP, Kinder Morgan Management, and El Paso Pipeline Partners LP, the newly consolidated company no longer has a master limited partnership structure, under which the former limited partners paid incentive distribution rights to KMI as their general partner. Through its various operating businesses, KMI operates a diverse set of assets, including 79,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, refined petroleum products, crude oil, carbon dioxide, and other products, and its terminals store products such as petroleum, chemicals, ethanol, coal, coke, and steel. In addition, the company is a leading provider of carbon dioxide, which is used for enhanced oil recovery projects in North America. KMI also owns a 20% equity interest in NGPL PipeCo LLC, a major interstate natural gas pipeline and storage system. Kinder Morgan is a component of the S&P 500 and has approximately 11,000 employees.

The major indices are mostly lower at midday on Tuesday, with the Nasdaq down more than 1%. Earnings reports are pouring in, with companies commenting on the economy and the impact of elevated energy costs. Crude oil has again tipped over $100 per barrel. The yield on the 10-year note is at 4.37% and the VIX volatility index is at 18.

Kinder Morgan operates natural gas, crude oil, and refined products pipelines connecting producing regions to demand centers. It is principally involved in the gathering, storage, and transmission of natural gas across the continental United States. It also operates distribution centers for refined products along with the largest fleet of Jones Act-compliant tankers.