Asian companies have changed environmental management

News24xx.com - Asia is central to changes in environmental impacts, legislative initiatives and regulatory participation, as well as approaches to better risk management.

The international voluntary quality standards for materials, products, systems and services ISO and ASTM are in demand in the Asian region more than ever, due to a series of natural disasters that have occurred. This is the conclusion reached by the head of the department of global material and financial responsibility for the environmental damage of the insurance company «Allianz Global Corporate & Specialty SE» Arthur Lou.

One of the most significant events for the Asian region, as Lu believes, was the incident in Vietnam in April 2016, when several tons of dead fish were thrown to the coastline of the country. The incident provoked a loss of $ 5.2 million for the local fishing industry. About 30% of tourists canceled their trips to the country. Investigations conducted by local authorities blamed the incident on the local metallurgical factory. According to the results of the investigation, toxic wastes were allegedly dumped from there. Similar incidents occurred in other regions of Asia.

A few decades ago, the supervisory authorities responded to similar environmental incidents in other industrial parts of the world, mainly in the West, by tightening control over compliance with the rules and increasing fines. As the expert noted, more effective risk management by private companies leads to an overall reduction in environmental damage. Asia has now begun to improve risk management and regulatory control practices. The main driving force in this process in Asia is the local authorities that are taking more active measures to protect human health and prevent damage to the environment.