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On Environmental Legal Obligations Of Listed Companies In China

Posted on:2006-04-01Degree:MasterType:Thesis
Country:ChinaCandidate:J HuFull Text:PDF
GTID:2166360182967311Subject:Environment and Resources Protection Law
Abstract/Summary:PDF Full Text Request
Listed companies are the result of the fully development of modernized production which make good use of its advantage in organization system to converge the widespread social capitals and reach the best arrangement of resources as an enterprise in market-oriented and securities formation.When seeking for their development the listed companies have also brought out a series environmental problems such as direct or indirect pollutions and damages, leading capital to unsustainable development road and encouraging the high energy- cost life style of the public. The environmental pollutions and damages brought out by the listed companies of China have been on the rise which may be shown in the datum published by the State Environmental Protection Bureau. The weak economic chains of China may not endure the development mode as 'pollute first and cure second'. From the point of reality the listed companies shall have the economic power to take on environmental responsibilities. In accordance with the Stakeholder Theory, the public are entitled with the environmental interests as the stakeholder of listed companies. As a result, listed companies should take on certain environmental responsibilities or we can say legal obligations from the legal view. When fulfilling their obligations listed companies shall balance the economic interests and environmental interests between shareholder and public. The environmental obligations of listed companies shall be divided into two kinds. The first kind is called general environmental obligation which shall be taken on by all enterprises, including environmental impact assessment, construction project must be designed, built and commissioned together with the principal part of the project, payment for pollutes discharge, eliminate and control the pollution within a certain period of time, accidents report obligation etc. The second kind is called special environmental obligation which may be exclusive to the listed companies. Apart from other enterprises, listed companies own characters such as being public and with securities formation which determine that the public can supervise them only through information disclosure different from general enterprises. In this paper, the writer focus on two special obligations: accepting environmental examination and environmental information disclosure stipulated in the legal documents of China Securities RegulatoryCommission and State Environmental Protection Bureau currently which is too simple and general causing to the lack of enforceability. So it may be an meaningful subject as how to improve the two obligations in theory study and legislation activities.
Keywords/Search Tags:Listed companies, Environmental Problems, Environmental Legal obligations, stakeholder, Environmental Protection Examination, Information Disclosure
PDF Full Text Request
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