All companies in China will have to disclose environmental policiesStaff Writer | June 13, 2017
China is introducing mandatory environmental disclosure by listed companies, as many listed companies recently failed an environmental disclosure test of their 2015 annual reports.
Ecology 170 companies across 14 sectors
Environmental disclosure in the reports was inconsistent despite strong public demand for environmental transparency.
Pharmaceuticals, brewing and textile sectors were among those ranked lowest, while the petrochemical sector was better than average.
"Emission-heavy industries such as petrochemicals have become accustomed to public scrutiny, while water pollution has been the subject of less public attention," said Li Zhiqing, deputy head of the Fudan University research center for environmental economics.
The survey showed how environmental disclosure can help companies translate environmental costs into operating performance, said Li.
During the latest round of air pollution inspections, the Ministry of Environmental Protection (MEP) found a total of 13,785 companies, or 70.6 percent of those examined, in violation of environmental standards.
The findings came after two months of inspections across 28 cities in the Beijing-Tianjin-Hebei region and nearby areas. ■