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Economic growth in China has been remarkable thanks to a booming domestic economy and increasing foreign investment. At the same time, however, citizens of China has suffered the effects of a deteriorating environment. China officially declared a war on pollution in 2014. Environmental laws and regulations would level the playing field between Chinese companies and foreign ones. Additionally, private demand for green supply chains is growing. Due to the severity of their pollution problems, China created standards and regulations that are even stricter than the international ones. Recent changes in China’s environmental initiatives took place on an accelerated timeline, which has been transformative. However, these new policies have also increased cost and created uncertainty in certain industries. Yet, these reforms have improved environmental enforcement across the country and encouraged cities such as Shanghai to take innovative approaches to reduce pollution. The environmental initiatives are paying off. China's environmental governance is improving. The country marches towards having a greener and more sustainable economy as well as being an international leader on green supply chains and international climate goals. Working with Chinese attorneys will be critical for navigating the new environmental law landscape in China.
The final part of this series discusses the role of Phase II investigations, environmental concerns not normally addressed in a Phase I, the reuse of Brownfield sites, and the impact endangered species have on development.
Part 3 of environmental concerns for real estate purchases and sales discusses the Phase I Environmental Site Assessment, contracts with environmental consultants, and Common Phase I errors.
Part 2 of the discussion of Environmental Concerns for Real Estate Purchases and Sales addresses the need for environmental due diligence in a real estate transaction.
A discussion of the environmental due diligence process in real estate transactions, why it is necessary, and issues to be concerned about. Part 1 addresses the impact of Environmental regulations on land use.