Trillium Asset Management was one of seventeen investors, with a combined total of more than $9.8 billion assets under management, who recently wrote to Lisa P. Jackson, Administrator of U.S. Environmental Protection Agency urging her to reconsider the final rules that will set national emission standards for the PVC industry.
The letter states, in part:
“As long term investors of diversified portfolios we believe strong and consistent protections of public health and welfare are essential to long term economic growth, and in turn the prospects of companies in our portfolios…In 2011 and in 2012 investors held informative dialogues with EPA staff members in Region VI to explore areas where our work overlapped. At the time, EPA staff was developing the Episodic Reduction Relief Initiative in an effort to persuade industry to voluntarily reduce the high frequency of air pollution releases. It became clear from our conversations that the number of releases in Mossville [, LA] (200-300 annually) can be reduced if industry changed operating practices. We commend EPA’s efforts, but have not yet seen industry take voluntary steps to adjust its operating and engineering practices. EPA staff did discuss with us the hurdles ahead since industry could be reluctant to voluntarily divulge their operating and engineering practices…”
The entire letter can be read here.