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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 »

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 »

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 »

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 …

Baikal Lake » Selenga River »

"We have achieved something of a success story," says activist Aleksandr Kolotov. "But it is far too early to celebrate victory."
 
IRKUTSK, Russia — Environmentalists in Russia’s Far East have been celebrating a small victory in a long war to protect one of the world’s great natural treasures, Lake Baikal. On September 27, the World Bank froze its tender process for a Mongolian project to construct a hydroelectric station on the Selenga River, the main inlet source for the massive lake. The environmentalists have been arguing for years that …

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