Trillium Asset Management and Calvert Investments Lead Investors in Voicing
Deep Concerns Regarding Pebble Mine
BOSTON, June 24, 2013
BOSTON, June 24, 2013 /PRNewswire/ --Sustainable and responsible investment
firms Trillium Asset Management, LLC and Calvert Investments, Inc. are leading
a group of 27 investors representing over $35 billion in assets, calling on
the Environmental Protection Agency to initiate a Clean Water Act 404(c)
review for the proposed Pebble Mine project at the headwaters of Alaska's
Bristol Bay. Under 404(c), the EPA may prohibit or restrict the disposal of
mine waste if it determines that it will have an "unacceptable adverse effect"
on fishery areas, wildlife, and recreational areas.
The Pebble Mining Project is co-owned by Northern Dynasty Minerals Ltd and
Anglo American plc.
"For investors with long-term investment horizons, the value of our portfolios
is dependent in part on sustainable global economic growth. We are concerned
that our returns could be negatively affected by the potential for negative
social and environmental impacts posed by the development of this mine in such
a valuable salmon fishery," said Jonas Kron, Senior Vice President with
The EPA's Draft Impact Assessment on the impacts of the Pebble Mine on the
Bristol Bay fishery under routine operation finds that it could result in
ninety miles of streams blocked or eliminated and 4,800 acres of wetlands
destroyed.Such degradation and destruction of water quality and habitat would
have an adverse impact on the commercial, subsistence and sport fishing for
salmon in Bristol Bay and the $500 million direct revenue from fish sales. In
the event of a leak or spill of mine tailings, the impact would be even worse.
"We believe it is critically important for mining activity to occur only in
ecologically and culturally appropriate areas. A Section 404(c) process will
help ensure that," Kron added.
For more information:
Randy Rice, Trillium Asset Management, LLC, (617) 515-6889,
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SOURCE Trillium Asset Management
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