China Orders Listed Firms To Be Greener [PlanetArk]
BEIJING - Beijing has launched a "green securities" scheme aimed at making it harder for polluters to raise capital and requiring listed firms to disclose more information about their environmental record.
The initiative is part of a drive by the State Environmental Protection Administration (SEPA) to enlist other government agencies to give financial and economic policies a green hue.
China has adopted "green credit" and "green insurance" in recent months and has plans for "green taxation" and "green trade" to help clean up the economy.
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The need to comply with tougher environmental standards is among the reasons executives regularly give for why the cost of doing business in China is rising.
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The second pillar of the programme is a requirement that listed companies provide more information about their environmental performance.
SEPA said less than half of listed companies bothered to even mention the environment in their 2006 annual reports.
Greater disclosure would not only spur companies to meet their environmental responsibilities but would also help to protect investor interests, Pan said.