Solvay to Reduce Discharge at Italy Plant After Investor Pressure
September 06 2022 - 3:34AM
Dow Jones News
By Pierre Bertrand
Solvay SA said Tuesday that it has reached a settlement with
activist investor Bluebell Capital Partners after agreeing to
reduce the discharge of limestone residue into the sea from its
plant at Rosignano in Italy, and to invest in a new soda-ash
production process.
The new production method, intended to be adopted globally, will
enable the Belgian chemical and plastic products manufacturer to
further cut emissions and reduce limestone residues discharge to
zero by 2050, the two said in a joint statement.
Solvay and ESG-focused fund Bluebell said that as result of
Solvay's commitments, Bluebell's One-Share Environmental, Social
and Governance campaign relating to Solvay has ended.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
September 06, 2022 03:19 ET (07:19 GMT)
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