China Asks Companies to Mind Environment When Investing Overseas

(Bloomberg, Beijing, 28 February 2013) China has issued environmental protection guidelines for Chinese companies to follow when investing overseas, calling on them to pay more attention to pollution and its impact on local communities. The guidelines call on companies to follow local environmental laws, assess the environmental risks of their projects, minimize the impact on local heritage and draft plans for handling emergencies. A number of countries have cancelled Chinese projects because of safety and environmental concerns and the President of Botswana has cited "bad experiences with Chinese companies". Another private Western media review of China's Green Credit Policy notes that Beijing is trying to give teeth to its environmental policies by enlisting the help of the banking sector, but suggests that one year on it has yet to be taken seriously by China’s regulators or by the country’s banks.