China’s Ministry of Environmental Protection (MEP) recently enacted two new policies directed at certain heavily polluting industries: (i) a trial programme making environmental liability insurance mandatory; and (ii) stricter emission limits. For the first time, certain heavily polluting industries in China will be required to obtain environmental liability insurance.
In addition, they will have to comply with higher emissions standards in 47 major cities in China.
Implications for polluters
These mandatory insurance requirements and stricter limits on emissions will require companies in certain heavily polluting industries to increase compliance efforts and spending. Many will incur additional costs to purchase environmental liability insurance or upgrade outdated equipment and technology.
Mandatory insurance
On 21 January 2013, the MEP and the China Insurance Regulatory Commission jointly issued the Guiding Opinion on the Pilot Work of Mandatory Environmental Pollution Liability Insurance, which requires entities in certain heavily polluting industries to insure against liability for environmental pollution.
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Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mail at: Zhang Danian (Shanghai) danian.zhang@bakermckenzie.com
