Solvay S.A. Ord. Ticker SOLB BB. ISIN BE0003470755, Brussels Stock Exchange
LONDON, March 22, 20, 2022 (GLOBE NEWSWIRE — Bluebell Capital Partners appealed to Regional Administrative Tribunal of Tuscany Florence for annulment of January 2022 decreeTh2022, Roberto Cingolani, Minister of Ecological Transformation, renewed and extended the Integrated Pollution Prevention and Control authorization for the industrial plant of Solvay S.A. (five years ahead).SolvayRosignano (or “” in Rosignano), a factory that has been the subject of heated environmental controversy for many decades.
The court filing was also signed in by WWF Italy, the largest organization for the defense of the environment in the world, Project Zero (an international organization that is committed to protecting the seas and counts Sienna Miller and Cara Delevingne among its ambassadors), Medicina Democratica, an Italian non-profit organization that deals with public health, and many citizens of Rosignano led by Maurizio Marsi (an ecologist who has been exposing the environmental and health effects of Solvays plant in Rosignano’s plant in Rosignano’s plant in Rosignano) and the health consequences of Solvays in Rosignano since the health and the health of Solvays plants in Rosignano for many years).
The following are the three grounds for legal action: (i)Solvay’s alleged violation European and National guidelines against the localized accumulation suspended solids spilt into sea, as in Rosignano where the spillage has created a fake Caribbean-style beach (the so-called White Beaches); (ii)The alleged misuse of power by the Italian authorities was due to the absence of a preliminary inquiry by the Ministry which issued the authorization. Despite the fact that the Ministry has admitted the matter in its statement dated February 1st2022. The elements required to assess the hazards to the environment or human health have not been fully evaluated. (iii)The potential conflict of interests, on the part Minister Roberto Cingolani who signed a decree which brings undoubted benefits to Solvay, given that Roberto Cingolani, a senior executive at Leonardo S.p.A. had, less than a year prior to becoming Minister, concluded an important joint venture with Solvay.
Every year, hundreds of thousands upon hundreds of thousands of tons de suspended solids containing tens ton of heavy metals (arsenic and cadmium), make their way into the environment. White BeachesRosignano, which we believe to be an open-air dump. We would also like to highlight recent scientific research1This clearly shows that corruption can worsen environmental sustainability at a country level and separately. It is evident that Italy ranks among the worst performers in Europe when it comes to perceived corruption or environmental responsibility2,3. The authorities must adhere to the highest standards in fulfilling their responsibilities and intervene if a company discharges into the environment.
Bluebell Capital Partners expressed concern over Solvay’s recent announcement that it would seperate some divisions with the most environmental impact. Solvay’s capital could be protected from potential environmental liabilities from future industrial activities, such as the Rosignano production of soda.
This court filing is a rare example of activist investors who are attentive and concerned about environmental and social issues (Bluebell Capital Partners), non profit organizations for the protection and improvement of the environment (WWF Italy Project Zero) as well as local communities (Maurizio Marsi and citizens of Rosignano, who joined the legal action) can and must work together to protect our environment.
For inquiries, please contact [email protected]
Bluebell Capital Partners Limited
2 Eaton Gate London SW1W9BJ
Tel: +44 20 3826 0100
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1The influence of corruption in developing economies of Southern Africa on environmental sustainability(Fortune Ganda (2020) https://www.sciencedirect.com/science/article/pii/S2405844020312317
2Transparency International: Corruption Perception Index https://www.transparency.org
3Yale Center for Environmental Law & Policy, Environmental Performance Index: https://epi.yale.edu/epi-results/2020/component/epi
