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Angara River, Baikal Lake, Greening Silk Road, Yenisey Basin, Yenisey River »

The IPO Prospectus that was made public over the weekend by the En+Group (ENPL) and contains numerous inconsistencies and omissions. In the relevant "Risks" and the "Health, Security and Environment" sections, the Prospectus does not disclose specific environmental and social risks related to exploitation of large hydropower- the spine bone of the Group’s business. However in less prominent parts the document finally contains recognition that the En+ causes negative impacts to the Lake Baikal, which is a World Heritage Site.

Map of Principle assets of the En+ (Source-Prospectus)
Earlier this …

Angara River, Baikal Lake, Featured, Selenga River, Yenisey Basin, Yenisey River »

[5 Nov 2017 | Topics: ]

To: Donald Brydon, CBE,
Chairman of the London Stock Exchange Group
cc: CEO, Chief Risk Officer, key management officials.
Re: En+Group IPO
Dear Mr. Brydon:
We recently learned that the En+Group is preparing for IPO at London Stock Exchange. We recognize that, in principle, public listing could help the company to become more transparent and socially responsible. We are writing to raise concerns regarding the En+ Group’s ability to meet standard information disclosure requirements as this is an area this company is failing to strengthen.
We believe that a stock market listing could …

Angara River, Baikal Lake, Greening Silk Road »

[4 Nov 2017 | Topics: ]

As the En+ Group started trading at London Stock Exchange on November 3 and promised to disclose its prospectus “shortly”, we publish excerpts from an article in Forbes by Kenneth Raposa  written a day before the IPO. The RwB still hopes to learn how the  En+ risks associated with Lake Baikal World Heritage site are reflected in its prospectus and management plans.
Russian businessman Oleg Deripaska is finally getting his wish: his En+ Group will list on the London Stock Exchange. Even in a hyper-liquid market, the fact that this …

Angara River, Baikal Lake, Yenisey River »

[25 Oct 2017 | Topics: ]

Today, the Rivers without Boundaries International Coalition (RwB), a union of conservationists protecting aquatic ecosystems and communities depending on them, sent an appeal calling for conservation of the Lake Baikal to the Lord Barker of Battle, a new Chair of the En+Group, that combines aluminium, hydropower and coal assets. The En+ is owned by a Russian billionaire Oleg Deripaska. On October 23 the En+ started a roadshow for its 1.5 billion IPO at the London Stock Exchange.
In the appeal the RwB describes the listing as an opportunity for the Company …

Angara River, Baikal Lake, Greening Silk Road, Solidarity »

[24 Oct 2017 | Topics: ]

In Russia Lake Baikal World Heritage Site in Siberia has been  harmed by Irkutsk Hydro owned by En+ Group. Hong Kong and Australian scientists conclude that this is a world-wide effect of conventional hydropower.
 
The article “How green is ‘green’ energy?” published in Trends in Ecology and Evolution on and announced by HK University on October 24.
Many governments are promoting a move away from fossil fuels towards renewable energy sources. However, in a study published today, scientists highlight some of the ecological dangers this wave of ‘green’ energy poses.
“We know that …