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2008, Volume 2, Issue 2

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Frontiers of Environmental Science & Engineering >> 2008, Volume 2, Issue 2 doi: 10.1007/s11783-008-0032-x

Development of environmental management system in China's financial sector

1.Department of Environmental Science & Engineering, Tsinghua University; 2.Center for Environment and Development, Chinese Academy of Social Sciences;

Available online: 2008-06-05
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Abstract

The establishment of the environmental management system in the financial sector can be effectively promoted through the introduction of the environmental protection concept and its implementation by the financial sector. The impact of a sustainable development system on the sector is analyzed in this article from three aspects: environmental risk assessment, financing support for environmental protection projects, and financial services to environmentally friendly corporations and individuals. Influential factors on the development of the environmental management system in China’s financial sector are discussed from the perspective of various entities such as financial institutions, financial regulation authorities, environmental protection departments, corporations, and the public. It is pointed out that China’s financial sector is now in the transitional phase from a defensive attitude to a preventive attitude. Strengthening governmental guidance, the supervision of regulators as well as public awareness of environmental protection should be used to enhance the initiative in the development of the environmental management system in the Chinese financial sector.

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