China is hitting the corporate wallets to go clean.
The latest Environmental Protection Law and the adjusted fines guideline from the Ministry of Environmental Protection in China is letting the polluters know they mean business.
The new paper raises the daily fines by 30 times on cases where polluters don’t fix their waste management within the allotted times.
In the past, it was cheaper to pollute and pay the fine then to handle their waste treatment properly. The new fines are high enough to hurt and the ministry even have powers to shut down the plants, seize assets and limit production until the strict waste guidelines are adhered to.
Read about it here – China Water Risk
http://chinawaterrisk.org/resources/analysis-reviews/pollution-it-doesnt-pay-to-naughty/