China's Ecological Code Aims to Redesign Economy for Sustainability
The European Union is grappling with severe environmental issues, including wildfires and water scarcity, which are having a significant impact on economic viability. Climate change is driving these problems, and companies across the EU are heavily reliant on ecosystem services.
China's Ecological and Environmental Code aims to address this issue through a systems-engineering approach. Adopted in March by the National People's Congress, the code has five chapters covering pollution control, ecological protection, and green development.
The code is significant not only for China but also for global markets because it addresses the fundamental design flaw of modern economies: the lack of accountability for environmental destruction. By mainstreaming environmental performance into industrial processes and sectoral policy, the code aims to correct this issue.