ESG Is in Our DNA®

What Is ESG?

ESG refers to an analysis of material environmental, social, and governance (ESG) factors that can impact a company’s investment potential and risk profile.

For some investors, ESG is about values, for others it’s about value. For us, it’s about both.

Environmental, Social, Governance

Values or Value?

Investors use ESG for different reasons:


  • Protect the dividend
  • Long-term investment strategy
  • Enhanced risk assessments


  • Ethical and/or religious perspectives
  • Improve business and market practices


  • Impact on next generation
  • Stewardship of assets


  • Concerns about pollution, climate change, & resource management
  • Sustainable business models


  • Recruitment/retention of a competitive, diverse, talented workforce
  • Good corporate citizenship


  • Protection of shareholders
  • Best-practices management and board selection

Sustainable Income Opportunities®

Since the launch of our first portfolio in 1991, Miller/Howard Investments has integrated ESG criteria into our investment process.

We take a critical and thorough look at the totality of a company, which includes both detailed financial analysis and robust evaluation of the company’s ESG profile.

Protect the Dividend

ESG Analysis and Integration

  • Informs better management of shareholder value & income
  • Identifies risks and opportunities
  • Enables active ownership

ESG Investment Policy

We take a critical and thorough look at the totality of a company.


ESG Report: Integration and Engagement 2022–2023

Our annual report provides insight into the quality of company management.


ESG + Income

An Integrated Approach to Investing

Active Ownership

Miller/Howard offers income + ESG solutions to meet the needs of a variety of investors.


Disclosure is Fundamental

We believe disclosure can be good for both investors and companies.


ESG in the Real World

What is the company’s strategy to prevent costly incidents?

Shareholder Engagement

A voice at the table. The power of the engagement process is to bring concerns to the attention of company management and other shareholders, resulting in dialogue and/or the redress of concerns.

Our engagement goals:

  • Represent our investors and protect their assets
  • Mitigate risk
  • Promote shareholder value

Engagement outcomes include:

  • Increased transparency and accountability
  • Better reporting and practices
  • Increased board diversity

Our ESG Guiding Values

We evaluate companies using our Guiding Values in an effort to protect shareholder value, and we may engage companies through our shareholder advocacy program when we identify risks.

Exemplary Governance & Corporate Citizenship
Diversity, Equity & Inclusion
Strong Disclosure & Sustainable Resource Management
Responsible Climate Change Approach

Proxy Voting

We actively review and vote all proxy ballots according to our ESG-aligned proxy voting policy.

Proxy voting is an important opportunity to weigh in on critical corporate governance issues that are put to a vote at a company’s annual general meeting.

We believe that strong ethical management of environmental, human, and financial capital is good for business and investors.

Our Commitment to ESG

We have been a proud signatory to the United Nations Principles for Responsible Investment (UNPRI) since 2007.

Our other partnerships include:

UN Sustainable Development Goals

Miller/Howard’s work supports the United Nations’ Sustainable Development Goals.


Board Diversity

Diversity on boards of directors can be an essential component of good governance.

Download this page as a presentation 

ESG Research & Advocacy Team

Luan Jenifer,
Chief Executive Officer and President

Nicole Lee,
Director of ESG Research

Patricia Karr Seabrook,
Shareholder Advocacy Coordinator

Daniel Lee,
ESG Research/Data Associate


Investment Products: ARE Not FDIC Insured • May Lose Value • ARE Not Bank Guaranteed

Opinions and estimates offered constitute Miller/Howard Investments' judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. All investments carry a certain degree of risk, including possible loss of principal. It is important to note that there are risks inherent in any investment and there can be no assurance that any asset class will provide positive performance over any period of time. The material may also contain forward-looking statements that involve risk and uncertainty, and there is no guarantee they will come to pass.

The information is from sources deemed to be reliable and is provided strictly for the convenience of our investors and their advisors. These materials are solely informational. Legal, accounting and tax restrictions, transaction costs, and changes to any assumptions may significantly affect the economics of any transaction. The information and analyses contained herein are not intended as tax, legal, or investment advice and may not be suitable for your specific circumstances; accordingly, you should consult your own tax, legal, investment, or other advisors, at both the outset of any transaction and on an ongoing basis, to determine such suitability.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors, and the amount of any dividend may vary over time. Dividend yield is one component of performance and should not be the only consideration for investment.

The returns on a portfolio that utilizes environmental, social, or governance (ESG) criteria for stock selection may be lower or higher than portfolios where ESG factors are not considered, and the investment opportunities available to such portfolios may differ.

Investment Decisions: Do not use this report as the sole basis for investment decisions. Do not select an allocation, investment discipline, or investment manager based on performance alone. Consider, in addition to performance results, other relevant information about each investment manager, as well as matters such as your investment objectives, risk tolerance, and investment time horizon.

© 2024 Miller/Howard Investments, Inc. All rights reserved.