China to Assign Credit Ratings Based On Companies' Environmental Efforts

摘要

China, the world's biggest emitter of greenhouse gases, will assign credit ratings to companies in industries with heavy pollution or overcapacity based on their efforts to protect the environment. The ratings will provide a reference to banks for reviewing credit for the companies and to authorities for arranging subsidies, the Ministry of Environmental Protection said on its website Jan. 1. Companies will be ranked on a four-level, color-coded scale, with green representing the best and red the worst. China is stepping up its efforts to appease public anger associated with environmental concerns, a main cause of civil unrest. The government has pledged to cut carbon emissions per unit of economic output by as much as 45 percent from 2005 levels before 2020.