March 31:
Source: http://www.businessgreen.com/bg/news/2336859/reports-shanghai-stock-exchange-mulls-carbon-index?
Stock exchange considers demanding mandatory carbon reporting in order to establish new environmental benchmark
The Shanghai Stock Exchange is reportedly considering plans to launch a new index ranking listed companies based on their carbon emissions intensity.
According to Reuters' reports, the stock exchange has asked China Securities Regulatory Commission to impose mandatory carbon reporting rules on listed companies that would allow it to benchmark its nearly 1,000 listed firms based on how much carbon they emit each year per unit of revenue.
In a report to the securities regulator, the exchange said companies were not willing to voluntarily release data and called for emissions reports to be made mandatory.
China is in the process of launching a series of carbon trading pilot schemes across the country covering at least 700 million tonnes of annual CO2 emissions.
The trading scheme in Shanghai launched late last year covering annual emissions from industrial facilities and power plants totalling 120 million to 130 million tons a year. However, the data on precise emission levels has not yet been released to the public.
Record high levels of air pollution in some of China's major cities recently has also driven a wave of new environmental regulations that have seen authorities force some factories to close during periods of poor air quality.
The smog in Shanghai last year was blamed for forcing down share prices for coal companies, while at the same time as boosting valuations for companies specialising in environmental protection.
The prospect of further regulatory pressure on China's most carbon intensive firms is likely to provide an additional boost to clean tech providers.
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