China imposes green policy on companies

Beijing has put into effect a ''green securities'' plan aimed at making it harder for companies that pollute heavily to raise capital and requiring listed companies to disclose more information about their environmental records. The plan is part of a drive by the State Environmental Protection Administration to enlist other government agencies to give financial and economic policies a green hue. China has adopted ''green credit'' and ''green insurance'' in recent months and has plans for ''green taxation'' and ''green trade'' to help clean up the economy. ''It will curb excessive growth in highly polluting sectors, reduce capital-market risk and spur listed firms to improve their environmental performance,'' Pan Yue, deputy head of the agency, said Monday on its Web site. The need to comply with tougher environmental standards is a reason that executives regularly give for the rising cost of doing business in China.