On The Legal Regulation On The Environmental Liability For Financial Institutes

The People's Bank of China,Ministry of Finance of People's Republic of China,National Development and Reform Commission,Ministry of Environment Protection(now Ministry of Ecology and Environment of the People's Republic of China),China Banking Regulatory Commssion(now China Banking and Insurance Regulatory Commssion)and China Securties Regulatory Commssion have jointly published the Guidelines for Establishing the Green Financial System in August 31 th,2016.According to Article 2(8)of the Guidelines,China is aiming to explore ways to introduce lenders' environmental legal liability.However,due to the fact that the environmental obligation and liability of financial institutes have not been directly regulated in Chinese legitimate level,the system of environmental liability of financial institutions is still under discussion.Therefore,through the analysis of international practice,combining the questions in our theory and legislation in relating area,this article offers some basic suggestion towards the foundation of the system of the environmental liability of fianancial institutes.Part ? denotes the first chapter,which introduces the formation of the rules of the environmental liability of financial institutes.The concept of the environmental liability of financial institutions arise from the USA in 1970 s,and it has a great impact among international economic law.In the area of domestic law,this article introduces the dilemma U.S.was confronted with,combining the background of SUPERFUND,and analyses the basic characteristics of the regulation for financial institutes in environmental area.In the area of international rules,this article analyses the regulation of international treaties,soft law and the environmental and social framework of international institutes.As the responsibility in legislation is specifically referring to the adverse legal results,the conflict appears between legislation and legal theory.Meanwhile,With the assimilation of such rules,the usage of responsibility in international legal instruments also affects Chinese financial law.Lacking of direct translation,liability is translated as responsibility,which finally results in the misuage.This article offers the differences between the word responsibility and relating words.Part ? denotes the second chapter,which introduces the theoretical foundation of the environmental liability of financial institutes.No matter in domestic law or in international law,the foundation of a legal system relys on the theory.As the complexity of the legal relationship of financial institutes' environmental tort,this article uses the theory of environmental right and corporate social responsibility to explain the reason for the obligation of the environmental obligation of financial institutes.Meanwhile,the theory of helping tort behavior offers the legal basis for the regulation of the involvement of financial institutes in environmental tort relationship.Part ? includes the third and fourth chapter,which introduce the international practice in the area of regulation for the environmental liability and responsibility for financial institutes.Based on the background of SUPERFUND,the third chapter introduces the contents of this act and the practice of the involvement of financial institutes in environmental tort relationship,and finally analyses the expriences from this act.The fourth chapter introduces the contents of Equator Principles and ESF,and offers the characteristic of the two systems.Therefore,this article concludes the basic experiences for the regulation for financial institutes in such area.Part ? includes the fifth,sixth and seventh chapter,which analyse the questions in our domestic law and theory,and offer the solution.The fifth chapter offers that the misuse of the world responsibility in our theoretical area.Through the context of Chinese language,legal theory and domestic law,this article highlights that the world means liability.After the analysis of the domestic rules,the sixth chapter offers the dilemma in our domestic law and the solution.As the concluding,the seventh chapter,based on the analysis in former chapter,through the relationship between domestic law and international law,offers the macrographic suggestions for the regulation of financial institutes in environmental area.