Greenpeace Opposes IPO of Golden East Paper Company
August 15th, 2008 by Rich
Over the last few months, Greenpeace has grown not only in size.. but in confidence.
They have set up some public campaigns surrounding chopstick usage, water contamination, energy usage, and during the last few weeks of reporting on the air quality of the games it was Greenpeace who were giving daily briefings.
However, in a sign of their growing strength and another sign that they are building credibility, they have just published a report that lays out the case that the firm Golden East Paper company should not be allowed to IPO
According to the coverage at China.org:
Greenpeace China yesterday called on the Chinese government to reject paper manufacturer Gold East Paper’s application for a domestic stock market listing because of what the environmental lobby group calls the firm’s “shocking” environmental record.
Greenpeace China alleges that Gold East Paper and its subsidiaries have committed eight serious environmental offenses since 2005; in the past two months, according to the lobby group, Gold East subsidiaries discharged illegal black effluent in Hainan, and exceeded legal pollution limits in Suzhou.
Why this is an important step, and a sign of progress, is that while it was reported that 100 firms earlier this year had their IPOs shelved from pollution, this is the first time an NGO has initiated a public campaign
To read the full report in Chinese, you can download it here.
This entry was posted on Friday, August 15th, 2008 at 11:13 am and is filed under Environment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
April 16th, 2008 at 11:16 am
adam, this is impressive transparency and having some knowledge about the folks behind this work I can say there is a very impressive team and approach to responsible supply chain management.
But to link in to my other comments, about CSR managers etc .. once again this is work being undertaken by a dedicated team closely linked to the wider business stakeholder group.
April 16th, 2008 at 5:01 pm
Rita, You are right, and thus I am tempted to ask how important your role was in driving these or other initiatives?
As you saw from my comment on Rich’s post, I think there still is a role for a CSR ‘manager’ of some kind, though of course that varies by sector, country, company etc.