China’s green insurance pilot project makes substantial progress
2009-02-10 Changsha
Supported by China's State Environmental Protection Administration (SEPA) and China Insurance Regulatory Commission, the country’s green insurance pilot project, which targets enterprises dealing with toxic chemicals and dangerous waste as well as petrochemical factories in such regions as Hunan, Jiangsu and Shenyang province, has made substantial progress, said Pan Yue, deputy director of SEPA. Commenting on the next step in the implementation of the insurance system, Pan said, we will focus on bringing forward work scheme for the pilot project, establishing compensation standard for pollution damage and developing products that can meet actual demands in the next stage. In addition, environmental protection authorities at every level are required to establish some safeguard measures.