Sky Canaves reports on China’s plans to draw up a set of “green guidelines” for its companies abroad. From the Wall Street Journal:
Perhaps mindful of the environmental toll taken by its booming, export-led economic growth over the last 30 years, China is now working on a set of green guidelines for Chinese companies involved in projects overseas.
The Ministry of Environmental Protection and the Ministry of Commerce have drafted a set of mandatory environmental measures that would apply to Chinese outbound investors, the China Daily reports. According to the report, the new rules would require Chinese companies to conduct environmental impact reviews on overseas projects, take measures to protect the environment on all projects (such as including facilities for sewage and waste treatment), abide by China’s international environmental treaties and pay for any environmental damage that results from their projects.
The measures would apparently prevent companies from shopping around to do business in places with the most lax environmental regulations.
“In cases where China’s environmental standards are higher than the host countries’, Chinese investors will follow our standards,” Zhi Yingbiao, one of the drafters of the rules, told the China Daily. “This way, China can also help with environmental management in less developed countries.”
Also read “Green rules eye Chinese firms abroad” from Li Jing of China Daily.