China to bar polluting industries from raising capital
China would bar major polluting companies from raising capital in the stock market in an intensified move for environmental protection, a senior official said.
By PTI |
BEIJING: China would bar major polluting companies from raising capital in the stock market in an intensified move for environmental protection, a senior official said.
Enterprises found guilty of environmental violations or failing to meet pollutant discharge requirements would not be allowed to list their shares, a top environment watchdog official said. Zhou Shengxian, minister of the State Environmental Protection Administration (SEPA) was quoted as saying by the state-run China Daily that the listed companies should open up their environmental records to public scrutiny.
He also said beginning 2009, enterprises discharging pollutants must obtain environmental permits, failing which they would not be allowed to continue or start operations. "We will speed up industrial restructuring to ensure that the target of phasing out outdated techniques, equipment and products is met by the end of 2010," Zhou said.
In a report, the environment watchdog said last week that air and water pollution had come down for the first time in nine months. Emissions of sulphur dioxide (SO2), the major pollutant, was 19.06 million tons, down 1.81 per cent year-on-year and Chemical oxygen demand, a key water pollution index, was 10.44 million tons, less by 0.28 per cent.
Zhou said maximum levels of pollutant emissions would be set for different regions and those flouting it would not be allowed to take up new projects.
Enterprises found guilty of environmental violations or failing to meet pollutant discharge requirements would not be allowed to list their shares, a top environment watchdog official said. Zhou Shengxian, minister of the State Environmental Protection Administration (SEPA) was quoted as saying by the state-run China Daily that the listed companies should open up their environmental records to public scrutiny.
He also said beginning 2009, enterprises discharging pollutants must obtain environmental permits, failing which they would not be allowed to continue or start operations. "We will speed up industrial restructuring to ensure that the target of phasing out outdated techniques, equipment and products is met by the end of 2010," Zhou said.
In a report, the environment watchdog said last week that air and water pollution had come down for the first time in nine months. Emissions of sulphur dioxide (SO2), the major pollutant, was 19.06 million tons, down 1.81 per cent year-on-year and Chemical oxygen demand, a key water pollution index, was 10.44 million tons, less by 0.28 per cent.
Zhou said maximum levels of pollutant emissions would be set for different regions and those flouting it would not be allowed to take up new projects.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
