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EnviroTech :: Regulatory :: Regulatory: Climate Change

Report: China's environmental ministry to mandate environmental liability insurance

7:45 AM MST | February 22, 2013 | Francinia Protti-Alvarez

China's Ministry of Environmental Protection (MEP; Shanghai) has issued guidance mandating that petrochemical and heavy-metal industries join an environmental liability insurance system, a report in China Daily says. Under the previous system, introduced in 2007, companies joined on a voluntary basis. The voluntary system is in use in more than 10 provinces and regions, insuring more than 2,000 enterprises by almost 20 billion yuan ($3.17 billion), the report says. "The environment is under great pressure caused by the rapid development of chemical...

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