American environmentalists are pleased with the efforts that China is doing to green its financial sector. The environmentalists even say that regulators in the United States could learn from the recent success that China achieved by stimulating investments that don’t despoil the world.
In a recent Chinese report we could see a very positive and remarkable highlight! The Chinese financial sector does now even have policies to limit the pollution and climate change. There is a regulation that says that Chinese banks may not lend money to companies that aren’t in compliance with the environmental laws. For example we could take the industrial and commercial bank of China. They reduced their loans to polluting industries by 24%!
There’s even a Ministry of Environmental Protection created. So far, there are already 38 firms consigned on a credit blacklist. This because of their environmental violations. In figures we could say that there is already a $293 million in loans is denied or recalled because of environmental violations.
I think that the Chinese government is on a very good way with the efforts that they are doing to green its financial sector! It’s very important that we all think about the environment because we have to think about the next generations. If we keep polluting like we are now doing, there will be a big problem. So I think that it’s very important to stimulate and reward companies who are trying to produce in a less polluting way.
source: http://www.atimes.com/atimes/China_Business/JK25Cb01.html
1 comment:
I agree with the opinion of the Michiel. We don't have to be so selfish anymore and leave some beautifull nature for our children and grandchildren.
I think it's good that China finally do something about the pollution. China is a big country who polluted a lot so hopefully the nature will be a little bit saved because off this green standard
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