China to require annual environmental reports from petchem firms

SINGAPORE (ICIS)--China will start requiring publicly-listed companies in the petrochemical industry and 15 other sectors to submit annual environmental reports to keep track of their pollution records, a government official said on Wednesday.

The country’s Ministry of Environmental Protection (MEP) has released the draft rules on Tuesday for the 16 high-polluting industries, the MEP official said.

These include the steel, cement, coal, textile, papermaking industries, among others.

“It’s just draft rules now and we are seeking public opinions on it from 14-25 September,” he added.

The environmental report would be required on companies that fall within the 16 high-polluting industries and are listed in the Shanghai Stock Exchange and the Shenzhen Stock Exchange, he said.

Publication of the report would be around the same time as the companies’ annual financial report, the official said.

The MEP would also be requiring these companies to immediately report accidents, the official said. The grace period would be one day from the time the accident occurred, he said.