LONDON, March 22, 2022 (GLOBE NEWSWIRE) -- Bluebell Capital Partners has appealed to the Regional Administrative Tribunal of Tuscany (Florence), for the annulment of the decree issued on January 20th, 2022 by the Minister of Ecological Transition, Roberto Cingolani, which renewed and extended (five years in advance) the Integrated Pollution Prevention and Control authorization (IPPC), for the industrial plant of Belgian company Solvay S.A. ("Solvay") in Rosignano, a factory at the center of a heated environmental controversy for many years.
The court filing was also signed by WWF Italy (the world’s largest organization in defense of the environment), Project Zero (a leading international organization committed to safeguarding the seas which counts Sienna Miller, Cara Delevingne and Georgia May Jagger among its ambassadors), Medicina Democratica (an Italian non-profit organization which deals with public health) and numerous citizens of Rosignano, led by Maurizio Marchi (an ecologist who has been denouncing the environmental impact and health consequences of Solvay’s plant in Rosignano, for many years).
The legal action is based on three grounds: (i) Solvay's alleged violation of European and national guidelines prohibiting the localized accumulation of suspended solids spilt into the sea, as is the case in Rosignano, where the spillage of suspended solids has formed a fake Caribbean style beach (the so called ‘White Beaches’); (ii) the alleged misuse of power by the Italian authorities, due to the lack of a preliminary investigation by the Ministry, which issued the authorization, despite the fact that, by unequivocal admission of the Ministry in its statement issued on February 1st, 2022, all the elements useful to assess the dangers to the environment and human health had not yet been fully assessed and; (iii) the potential conflict of interest, on the part of Minister Roberto Cingolani, who signed a decree which brings undoubted advantages to Solvay, considering that less than a year before becoming Minister, Roberto Cingolani as a senior executive of defence company Leonardo S.p.A., had concluded an important joint-venture with Solvay.
Each year, hundreds of thousands of tons of suspended solids, containing tens of tons of heavy metals (arsenic, cadmium, chromium, copper, mercury, nickel, lead, zinc) make their way to the ‘White Beaches’ of Rosignano, which, in our opinion, represent an open-air landfill. Additionally, we would like to highlight recent scientific research1 which clearly illustrates that corruption worsens environmental sustainability at a national level – and separately, that Italy ranks as one of worst performers in the European Union, when it comes to perceived corruption and environmental responsibility2,3. It is for this reason why the relevant authorities must apply the highest standards when meeting their responsibilities and intervene when a company openly discharges into the environment.
Against this backdrop, Bluebell Capital Partners also expresses its concern regarding the recent announcement from Solvay, to separate some divisions with the highest environmental impact. This corporate reorganization may shelter Solvay’s capital from the environment liabilities which could arise in the future, from industrial activities such as the production of soda in Rosignano.
This court filing represents an unprecedented initiative which demonstrates how activist investors who are attentive to environmental and social issues (Bluebell Capital Partners), non-profit organizations for the protection of the environment (WWF Italy, Project Zero) and human health (Medicina Democratica) and local communities (Maurizio Marchi and the citizens of Rosignano who joined the legal action) can, or rather must, work together in the defence of our environment.
For enquiries please contact: info@bluebellcp.com
Bluebell Capital Partners Limited
2 Eaton Gate, London SW1W 9BJ
Tel: +44 20 3826 0100
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1 “The influence of corruption on environmental sustainability in the developing economies of Southern Africa” (Fortune Ganda (2020), https://www.sciencedirect.com/science/article/pii/S2405844020312317
2 Corruption Perception Index, Transparency International: https://www.transparency.org
3 Environmental Performance Index, Yale Center for Environmental Law & Policy: https://epi.yale.edu/epi-results/2020/component/epi
