Investors challenge Covanta's disclosures
- The Securities and Exchange Commission (SEC) has been asked by 15 investment firms to review the filings of three companies about possible misleading statements about biomass energy.
- The investors sent a letter to the SEC stating that the companies, one of which is Covanta Holding Corp., did not disclose important information about the impact on the environment, expected regulations and financial risk.
- The letter outlines findings by the non-profit Partnership for Policy Integrity in regard to whether corporate disclosures of environmental risks meet SEC requirements and requests that the SEC clarify exactly what companies are able to claim about the climate benefits and carbon neutrality of biomass energy.
The additional names companies in the letter are Dominion Resources Inc. and Southern Co., both of which own wood-burning biomass power plants located in the United States.