China’s top two oil companies have been penalized for missing pollution targets, reports China Central Television (CCTV). The Ministry of Environmental Protection has suspended all refinery projects for China National Petroleum Corporation (CPNC) and the China Petrochemical Corporation (Sinopec) until they meet their pollution targets. The move is a part of a wider crackdown on pollution across China, which has suffered from record air pollution.
Both CPNC and Sinopec are lagging behind two emissions goals. They have made no progress in cutting their nitrogen oxide emissions, which are actually on the rise, despite demands to cut these emissions by 8 percent by 2015 (from 2010 levels). A greenhouse gas, nitrogen oxide can also become toxic when bonded with other chemicals and produce acid rain.
In addition, cuts in sulphur dioxide are behind annual goals of 10 percent reduction every year from 2010 to 2015. Sulfur dioxide is a potent air pollutant, which can cause respiratory problems and premature death.
In August, China announced it would invest $275 billion over the next five years in cleaning up air pollution in the greater Beijing area and surrounding cities. The Chinese public has become increasingly vocal over the nation’s vast environmental problems, which have been in part caused by China’s meteoric economic growth over the last few decades.
China is currently the world’s largest emitter of carbon dioxide, the primary greenhouse gas fueling global warming, although its per capita emissions still lag behind a number of developed countries.
The headquarters of China National Petroleum Corporation in Beijing. Photo by: Charlie Fong.
(08/19/2013) Last week China announced it was going to spend over a quarter of a trillion dollars ($275 billion) to fight rampant and life-threatening pollution in its urban centers over the next five years. Recent decades of unparalleled economic growth has taken a drastic environmental toll in China, including record air pollution levels in Beijing. The announcement follows other news, including that the Chinese government has recently scrapped a massive 2,000 megawatt coal plant project near the cities of Hong Kong and Shenzhen.
(07/08/2013) Chinese who live north of the Huai River will lose an aggregate 2.5 billion years of life expectancy due to the extensive use of coal burning in the region, concludes a new study published in Proceedings of the National Academy of Sciences.
(07/02/2013) Australia’s huge coal industry is a speculative bubble ripe for financial implosion if the world’s governments fulfill their agreement to act on climate change, according to a new report. The warning that much of the nation’s coal reserves will become worthless as the world hits carbon emission limits comes after banking giant Citi also warned Australian investors that fossil fuel companies could do little to avoid the future loss of value.
(05/23/2013) China has unveiled details of its first pilot carbon-trading program, which will begin next month in the southern city of Shenzhen. The trading scheme will cover 638 companies responsible for 38% of the city’s total emissions, the Shenzhen branch of the powerful National Development and Reform Commission (NDRC) announced on Wednesday. The scheme will eventually expand to include transportation, manufacturing and construction companies.
(05/21/2013) Chinese environmental authorities have approved construction plans for what could become the world’s tallest dam, while acknowledging that the project would affect endangered plants and rare fish species.
(04/29/2013) The environment is a public good. We all share and depend on clean water, a stable atmosphere, and abundant biodiversity for survival, not to mention health and societal well-being. But under our current global economy, industries can often destroy and pollute the environment—degrading public health and communities—without paying adequate compensation to the public good. Economists call this process “externalizing costs,” i.e. the cost of environmental degradation in many cases is borne by society, instead of the companies that cause it. A new report from TEEB (The Economics of Ecosystems and Biodiversity), conducted by Trucost, highlights the scale of the problem: unpriced natural capital (i.e. that which is not taken into account by the global market) was worth $7.3 trillion in 2009, equal to 13 percent of that year’s global economic output.
(04/24/2013) Some eight billion tonnes of greenhouse gases could be kept out of the atmosphere if China sticks to a deal with the United Nation’s Montreal Protocol to eliminate the production of hydro-fluorocarbons (HCFCs). In return for phasing out HCFC production by 2030, the Multilateral Fund of the Montreal Protocol on Substances has promised China of funding up to $385 million.