Belgian chemical company Solvay has reached an agreement with activist shareholder Bluebell Capital Partners regarding its soda ash factory in Rosignano, in the Tuscan region of Italy, the company announced in a joint press release on 6 September.
As previously reported by The Brussels Times, the picturesque seaside town of Rosignano Solvay is known for its pearly-white beach, which are in fact a by-product of Solvay dumping runoff into the area since 1917.
While Solvay insists that the run-off is perfectly safe, a 2008 study conducted by a local environmental agency asserted that there were 400 tonnes of mercury contained in the runoff below the waters.
A 2016 study noted that there was an excess in mortality from chronic diseases in the area surrounding Rosignano, hinting at a link between the site and local help. Researchers wanted to carry out new studies on the waters, but their efforts have been frustrated by local authorities, who activists accuse of being close to Solvay.
The beach and the Belgian company become the scene for a long-running stand-off between local health campaigners and regional Italian authorities.
For its part, Solvay told the Brussels Times that the process of producing soda ash in Rosignano was “safe and controlled” and only used “natural materials.” Citing a separate environmental report, Solvay stated that the water quality levels were “in line with the rest of the Tuscan coast.”
Bowing to pressure from its shareholders, the company says that it will now significantly reduce the discharge of limestone residues into the waters across Rosignano’s beaches.
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The company will also commit to investing into a new soda ash production process for its chemical plants across Europe. It is hoped that this will further reduce CO2 emission and eventually completely eliminate limestone residue run-off by 2050.
This announcement by Solvay has pleased Bluebell Capital Partners, who for several years have denounced the company’s use of the Italian coast for disposing of waste products from soda ash production.
As a result, Bluebell’s Environmental, Social, and Governance (ESG) ‘One-Share’ campaign at Solvay has now concluded, the company announced in a press statement.
