Study On Environmental Verification System Of Listed Companies In China

Quoted companies have been given more social responsibility as business leaders; more stringent environmental regulatory measures being made to them would have greater significance in both demonstration and guidance. Environmental verification system is a new system which was established by China during practicing, and it should be completed and improved constantly in order to play a more significant role. How to understand this system, how to improve it in practice and more over, to make appropriate reconstruction and arrangement has momentous influence in both economic growth and environmental protection dimension for quoted companies. This article steps from the value of quoted companies’ environmental verification system in order to build the construction and furthermore, design it to the binary system of third-party verification agency and government oversight. In response to the acute environment resource pressure, it is necessary to promote the development of financial innovation to achieve China’s sustainable development of economic growth and environmental protection. Therefore, China has stated the transformation of economic growth mode definitely, which is utilizing the administrative methods and a combination with market methods. In this context, a systematic investigation on environmental verification system of listed companies and suggestion to China’s development has significant theoretical and practical meaning.The basic concept of this paper is to deepen and expand the listed companies’ environmental verification system from the perspective of law, in order to provide valuable references for improving environmental management of Chinese listed companies. In consideration of listed companies’ particularity themselves, a “propose-analyze- referencesolve” logic model was used in this dissertation to discuss listed companies’ environmental verification system. This paper is divided into five major parts.The first part describes the environmental verification system of listed companies, including the definition, the characterization, theoretical foundation and its legitimacy, which aims a better discussion of environmental verification system of listed companies.The second part introduces some relevant systems and knowledge from other countries to offer impressive experience to assist Chinese environmental verification system of listed companies.The third part describes the current developments of environmental verification system of listed companies in China and find out defect of the system, simultaneously. According to the present circumstances in China, this part also analyzes the revolution trend of the system.The fourth part discusses the system in detail. To solve the problems that occurred from the government-oriented in China’s environmental verification system, part four introduces marketization angle originally, explores the introduction of third-party verification agency model and third-parties’ participation in verification of environmental protection of listed companies, by using these above methods, the enthusiasm, initiativite and creativity of social profession could be released sufficiently, and weaken the disadvantage caused by the excessive intervention of environmental protection departments. Ultimately, recommendations will be proposed to reconstruct the environmental verification system of listed companies.