Ministry of Environmental Protection of China announced yesterday (Sept 14, 2010) the draft of "Guide to Environmental Information Disclosure of Listed Companies" , to the public for comments. The draft stipulates that listed companies in heavy polluting industries should release the interim environment report within 1 day if sudden environmental incidents occur.
The new policy of Ministry of Environmental Protection of China, will involve 575 listed companies. That means the performance of about 1/3 listed companies in China will be affected.
Analysts pointed out that the 1-day period will prevent the delays of disclosure of information in environmental incidents.
Ministry of Environmental Protection of China also requirements, listed companies in 16 categories in heavy polluting industries, including thermal power, steel, cement, electrolytic aluminum, coal, metallurgy, chemical, petrochemical, building materials, paper making, brewing, pharmaceutical, fermentation, textile, leather and mining, should regularly disclosure of environmental information, publish annual environmental reports.