China Promotes ‘Green Insurance’

The State Environmental Protection Administration (SEPA; Beijing) and the China Insurance Regulatory Commission (CIRC; Beijing) have jointly announced plans to promote “green insurance” that will cover industrial companies against the costs of pollution accidents. The move is the latest attempt by the Chinese government to use market instruments to tackle environmental issues, SEPA says. The insurance products will initially target plants producing hazardous chemicals and petrochemicals, as well as plants treating hazardous waste, all of which have a...

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