China’s Ministry of Environmental Protection said listed companies in polluting industries will be ordered to publish annual environmental reports following several pollution scandals among listed firms, the South China Morning Post reported. According to draft policy guidelines posted on the ministry’s website, the requirement applies to A-share companies listed on the Shanghai and Shenzhen stock exchanges in 16 industries, including thermal power, mining, chemicals and petrochemicals, among others. Such firms will also have to disclose details of environmental accidents within 24 hours. Deputy minister Pan Yue urged local governments and environmental watchdogs to help promote greater transparency in order to reduce rampant pollution. However, critics of the guidelines say that without a legally binding regulation, the ministry’s efforts to rein in industrial polluters will struggle to produce results.
Categories