23:14 31.10.2019

China Issues Orange Alert In Hebei Province Over Pollution Concerns

Source: Republic
China Issues Orange Alert In Hebei Province Over Pollution Concerns

Authorities in China's Northern Hebei Province issued an Orange alert on October 30, due to concerns over the air pollution forecast for November 1. According to the local Chinese environment bureau, the Orange alert is the second-highest level of alert in terms of air pollution. The Orange alert is issued when the level of the PM 2.5 particles remains over the 200 barriers on the Air Quality Index for 3 days.

Orange alert in China

An alert of such a level results in the decline in production for a few companies alongside the suspension of operations of construction companies as well. The alert also prohibits heavy vehicles from plying on the road.

A specific plan was formulated that included the setting up of a special agency in the Hebei region that is filled with chemical industries. In response to that, a representative of the ecology and environment ministry, Liu Youbin, stated that 2020 is an important year to complete the plan in order to tackle air pollution

Liu said that there are many other tasks that have been planned out in the past two years that is a direct reflection of the government's efforts to tackle and eliminate the problem of pollution. He further said that the level of pollution in the winter season is more "sensitive" and that one is not going to witness favourable weather conditions this year as strong winds with high speeds that will facilitate the dispersing of allergens and polluting particles.

A dire situation in Southern China

A representative of the international environmental organization, Greenpeace, Lauri Myllyvirta, stated that there was a significant reduction in the pollution levels in the Beijing-Tianjin-Hebei region but pollution levels had increased in regions in the Southern part of the country such as Anhui, Canton, Fujian, and Jiangsu.

An effort to save the environment

The Chinese government also announced that the tax exemptions on the new energy vehicles that started in 2018 will continue in 2020 to give a boost to the country's green development initiatives and also to retain a strong domestic market. The government extensively promoted the use of the NEV's to ease the pressure on the current environmental conditions.

Recent Posts

See All
Davos 2020: Ursula von der Leyen warns China to price carbon or face tax
21:38 23.01.2020
Davos 2020: Ursula von der Leyen warns China to price carbon or face tax
Ursula von der Leyen has warned China and other large fossil fuel producers to find a way to price carbon at home or risk being hit by the EU with a planned CO2 tax on imports. “There is no point in only reducing greenhouse gas emissions at home, if we increase the import of CO2 from abroad,” Ms von der Leyen told delegates at Davos. “It is not only a climate issue; it is also an issue of fairness towards our businesses and our workers. We will protect them from unfair competition.”
Source: FT
Davos Special Edition: Royal assent for carbon tax
21:32 23.01.2020
Davos Special Edition: Royal assent for carbon tax
Welcome to day four of Moral Money’s Davos 2020 special editions! We are publishing every day this week at 0500 GMT to keep you updated about all the developments at the World Economic Forum’s annual meeting that relate to sustainable and ESG investing.
Source: FT
The world needs a Libor for carbon pricing
21:29 23.01.2020
The world needs a Libor for carbon pricing
Global leaders made plenty of bold — and often pious — pledges about climate change this week as they gathered in Davos. One of the most thought-provoking comments came from Axel Weber, UBS chairman, about carbon taxes. He predicted that finance is on the verge of “a big change in market structure”, as investors wake up to climate risks and embed carbon prices into their portfolio decisions. “The carbon price will become like Libor,” he declared. The London Interbank Offered rate — its full name — served as a vital benchmark for western loan markets for three decades, until revelations in 2012 that some traders had manipulated Libor prompted a regulatory overhaul.
Source: FT