Solvay has announced plans to significantly reduce the release of limestone residues directly into the sea from its facility in Rosignano, Italy as well as a long-term objective to invest in a new soda ash production process intended to be adopted globally (Link).

This new process should enable Solvay to further cut its CO2 emissions and reduce any discharge of limestone residues to zero by 2050.

Bluebell has expressed appreciation for Solvay’s plans, consistent with the Group’s One Planet roadmap, and for the active engagement with Solvay’s management that has brought about this positive outcome.

In light of the company’s accelerated initiatives, Solvay and Bluebell have reached a settlement to end Bluebell’s One-Share Environmental, Social and Governance (ESG) campaign relating to Solvay.

“We have been pleased with our continuing and productive dialogue and engagement with the Solvay management team. We have always been appreciative of Solvay’s One Planet roadmap, our primary concern was soda ash production at Rosignano and the recent announcements to significantly reduce the discharge of solid materials directly into the sea and accelerate investments to reinvent the soda ash production process with all its environmental benefits are huge steps forward.” Giuseppe Bivona – Partner and Co-Founder at Bluebell Capital Partners.

Solvay remains committed to leading its industry in developing innovative and more sustainable products and processes, consistent with its bold and ambitious One Planet program.

“Our plans demonstrate our teams’ unstoppable ambition towards achieving carbon neutrality and more sustainable operations,” said Ilham Kadri, CEO Solvay. “We appreciated the recent constructive engagement with Bluebell and I’m thrilled we have found a common ground.”