On February 18, the State Environmental Protection Administration (SEPA) announced that it has jointly issued the "Guidance Opinion on Environmental Pollution Liability Insurance" with the China Insurance Regulatory Commission. This marks a significant step in establishing a structured environmental pollution liability insurance system in China. The policy outlines a clear roadmap for the development of this insurance framework, aiming to improve risk management and ensure timely compensation for environmental damage.
The initiative targets companies involved in the production, operation, storage, transportation, and use of hazardous chemicals, as well as oil, petrochemical, and chemical enterprises, and those engaged in hazardous waste disposal—industries that are more prone to environmental accidents. Special emphasis will be placed on companies that have experienced major pollution incidents in recent years. This pilot program is the second key environmental economic policy introduced by the government, following the "green credit" policy.
According to recent reports, China is currently facing a period of increased frequency of environmental pollution accidents. Among the 7,555 large-scale heavy chemical industry projects, 81% are located in ecologically sensitive areas such as river basins and densely populated regions. Additionally, 45% of these projects are classified as high-risk facilities, yet their preventive mechanisms remain inadequate, leading to frequent pollution incidents that threaten public health and social stability.
After an accident occurs, the lack of a proper mechanism for post-incident handling often results in companies failing to fulfill their obligations for compensation and environmental restoration. As a result, victims are unable to receive timely support, which can lead to social tensions and disputes. Therefore, the urgent need for an effective environmental pollution liability insurance system has become increasingly evident.
Pan Yue, deputy director of the State Environmental Protection Administration, stated that during the "Eleventh Five-Year Plan" period, SEPA will work closely with the China Insurance Regulatory Commission to establish an initial environmental pollution liability insurance system. Pilot programs will be implemented in key industries and regions, and an initial directory of insurance companies and facilities based on environmental risk levels, along with standards for pollution damage compensation, will be developed.
By 2015, the goal is to significantly improve the environmental pollution liability insurance system and implement it nationwide. The government also aims to enhance various mechanisms, including risk assessment, loss evaluation, responsibility determination, accident response, and fund compensation, to create a more robust and reliable framework for environmental protection and public safety.
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