Companies will be required to submit annual reports on environmental information disclosure by March 15th, according to new rules.
China’s MEE (Ministry of Ecology and Environment), has released new rules regarding the disclosure of environmental information to domestic enterprises.
The regulations aim to improve corporate environmental information disclosure and promote modernisation of ecological and environmental governance systems and capabilities within local enterprises.
The rules require companies to submit annual environmental information disclosure reports by 15 March each year. They must include information from the previous year and environmental information from the 1 January to 31 Dec of the previous year.
Companies must disclose information about the production, governance, and emission of major water and air pollutants, as well as total carbon emissions. The focus should be on public health and corporate behaviours that may be of interest to the general public.
This includes disclosure of information on the discharge of toxic and hazardous substances and the generation, storage, flow, utilisation, and disposal of hazardous waste – so as to encourage companies to increase pollution control and carbon emission reduction efforts.
Companies also have to disclose information on ecological environmental governance, environmental risk prevention, environmental credit evaluation – to effectively open up information barriers between market entities and regulatory agencies, and guide enterprises to adopt environmentally friendly production, operation, and investment methods.
Companies with a high environmental footprint, companies that implement mandatory clean product audits, listed businesses, and bond issuers are the main focus. Listing companies and bond issuers must disclose information about financing and investment projects to determine their impact on climate change, environmental protection, and ecological sustainability.
Companies that fail to disclose their environmental information or disclose inaccurate or false information can be subjected to correction orders, criticisms from regulators and fines up to CNY 100,000. Late filings can lead to fines up to CNY50,000
The MEE stated that the rules were designed to improve environmental performance, enable companies with exceptional environmental protection efforts to gain better visibility, better select partners with superior environmental governance, improve fairness on the market, and promote green development and transformation of enterprises.
The rules will improve standardisation of disclosed information and comparability, reduce general and descriptive information, and ensure that environmental information can be understood and used easily by the public.
Enterprises and the public can use the corporate environmental information disclosure system for free.
The rules Published hereThe Act will be in force on 8 February 2022.
Companies will be required to submit annual reports on environmental information disclosure by March 15th, according to new rules.
China’s MEE (Ministry of Ecology and Environment), has released new rules regarding the disclosure of environmental information to domestic enterprises.
These regulations are intended to improve the legal disclosure of corporate environmental information and to promote modernisation of local ecological and environmental governance systems.
The rules require companies to submit annual environmental information disclosure reports by 15 March each year. They must include information from the previous year and environmental information from the 1 January to 31 Dec of the previous year.
Companies must provide information about the generation, governance, and emissions of major water- and air-pollutants as well as overall carbon emissions. This should be a focus on public health and corporate behavior that is of public interest.
This includes disclosure of information on the discharge of toxic and hazardous substances and the generation, storage, flow, utilisation, and disposal of hazardous waste – so as to encourage companies to increase pollution control and carbon emission reduction efforts.
Companies also have to disclose information on ecological environmental governance, environmental risk prevention, environmental credit evaluation – to effectively open up information barriers between market entities and regulatory agencies, and guide enterprises to adopt environmentally friendly production, operation, and investment methods.
Companies with a high environmental footprint, companies that implement mandatory clean product audits, listed businesses, and bond issuers are the main focus. Listing companies and bond issuers must disclose information about financing and investment projects to determine their impact on climate change, environmental protection, and ecological sustainability.
Companies that fail to disclose their environmental information or disclose inaccurate or false information can be subjected to correction orders, criticisms from regulators and fines up to CNY 100,000. Late filings can lead to fines up to CNY50,000
The MEE stated that the rules were designed to improve environmental performance, enable companies with exceptional environmental protection efforts to gain better visibility, better select partners with superior environmental governance, improve fairness on the market, and promote green development and transformation of enterprises.
These rules will also improve standardisation and comparability, reduce descriptive information and general information, make environmental information easy to understand, use, and provide easy access for the public to environmental information.
Enterprises and the public can use the corporate environmental information disclosure system for free.
These are the rules Published hereThe new law, which will take effect on February 8, 2022, will be effective.
