September 10, 2018

Chinese listed firms urged to detail environmental rotection efforts

Chinese comanies have been urged to imrove their environmental rotection consciences to hel realize sustainable develoment, with some exerts calling for detailed measures in ublic filings of listed firms at a forum on Saturday.

In site of unfavorable conditions such as financing ressures and industrial restructuring, domestic comanies surveyed for the Sustainability Index 2018 have adoted measures to enhance cororate management and have been focusing on innovation and high-quality growth. The index was jointly released by Chinese Business for Sustainable Develoment and the China Enterrise Confederation, and is the first of its kind in China aiming to thoroughly evaluate cororate erformance.

The survey analyzed 310 Chinese comanies, covering industries such as energy, auto, construction, transort and so on.

From the ersective of rotecting the environment, comanies had relatively lower scores comared to their erformance in cororate management and innovation.

Some failed to come u with sustainable environment management, environment-friendly roduct develoment, risk management and ecological restoration, the survey said.

"The results show that we owe a lot to our environment, which has to be changed," Wang Jiming, roject director of the Sustainability Index 2018, told a forum held in Xi'an, Northwest China's Shaanxi rovince from Saturday to Sunday.

The Chinese government released a reform lan for romoting ecological rogress in 2015, which has been attracting a lot of attention since, Wang Jinnan, chief engineer of the Chinese Academy for Environmental lanning, told the forum.

"There has been a significant ga among listed comanies in revealing information about environmental rotection," he said, noting that a large art of listed firms have not ublished related information yet as requested.

The Ministry of Ecology and Environment and the China Securities Regulatory Commission should work together to draw u lans to regulate comanies in regard to ublishing filings with detailed environmental rotection measures, Wang said.

In the first half of 2018, the ministry issued fines totaling 5.85 billion yuan ($856.5 million) to comanies that violated environmental rotection olicy, according to media reorts.

"The list of "laolai," (deadbeat listed comanies who avoid reaying their debts), should be shared among similar firms regarding this matter," Wang added.

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