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Wed, 09/15/2010 - 13:00 | by Wesley Furgiuele
September 15, 2010
Domini Calls for Curbs on Toxic Coal Ash
When coal is burned, it makes coal ash that contains arsenic, mercury, lead, and other toxic substances. In December 2008, more than a billion gallons of coal ash sludge spilled from a containment pond into homes and rivers in Tennessee. The spill caused an estimated $1.2 billion in costs, plus expenses associated with more than 50 lawsuits.
In a letter to the Environmental Protection Agency, Domini has joined institutional investors representing more than $240 billion in calling on the EPA to enforce strict regulations on coal ash. The investors called for a "consistent national requirement that will help reduce potential value loss and allow investors to better assess this sector’s risk profile."