BEIJING, Feb. 13 (Xinhua) -- China needs to make
greater efforts in implementing its environmentally-friendly loan policy, or
"green credit policy", to tackle pollution, the country's environmental watchdog
said on Wednesday.
The green credit policy has "helped curb pollution
and energy wasting to certain extent, but has not yet achieved its full purpose
so far", said Pan Yue, State Environmental Protection Administration (SEPA) vice
director, at a press conference here.
The policy was launched last July instructing banks
to stop making loans to high-energy consuming and polluting industries.
According to the policy, not only companies causing
heavy pollution and wasting energy are disqualified from getting loans,
companies that already have loans, but are later discovered to have violated
environmental protection regulations will also have their loans called in.
Pan said among the 38 companies blacklisted by SEPA
for high-energy consumption and pollution since last July, 12 have been banned
from obtaining loans.
In the eastern Jiangsu Province alone, more than one
billion yuan (137million U.S. dollars) in loans have been called in from
companies who failed to pass environmental assessment or to implement China's
environmental protection regulations, he said.
He added the policy had achieved far less than hoped.
"Many of the high-energy consuming and polluting
industries are at the same time the most lucrative industries in some areas, and
some local governments refuse to order to cut off loans.
"Moreover, a number of these companies are turning
from banks to social groups for financing, which is not within the jurisdiction
of our policy."
Pan said the government will continue to mount
efforts in implementing the green loan policy by setting up economic incentives
for those environmentally-friendly companies, and improving interaction between
banks in the loan business.
The government would also draft more
environmentally-friendly policies concerning taxes and insurance to curb
environmental pollution, he said.
