As eastern China suffered record high levels of air pollution, Chinese fossil fuel shares slid whilst environmental protection stocks received a boost.
Authorities in Shanghai ordered a halt to construction work and told schoolchildren to stay inside in response to dangerous levels of air pollution. The smog has been blamed on coal burning, factories, car exhausts and weather patterns.
On Friday afternoon, atmospheric particular matter, know as PM 2.5, reached 502.5 micrograms per cubic meter. The figure is well above the World Health Organisation’s recommended safe level of around 25 micrograms per cubic metre.
According to Bloomberg, the air pollution led to China Shenhua Energy Company, the biggest coal producer, and a gauge of energy shares, dropping the most in two weeks. In contrast, Fujian Longking, which makes pollution control equipment, advanced 0.8%.
Zhang Yanbing, analyst at Zheshang Securities in Shanghai, told Bloomberg, “There’s uncertainty before data so there’s a lack of confidence to drive the index higher. The pollution is worse today. This is good for environmental stocks.”
A study published earlier this year found that pollution in northern China reduces life expectancy by around five-and-a-half years. The report said that China’s free coal policy had contributed to 500 million people losing more than 2.5 billion collective years of life expectancy during the 1990s.
In September, the Chinese government launched a new plan to reduce the number of coal-fired power plants in a bid to improve air quality in Beijing, Shanghai and the Guangdong regions.
Like our Facebook Page
REPT BATTERO Makes Breakthrough in Future of Eco-Friendly Batteries
Harnessing the Sun: The Far-reaching Benefits of Solar Panels
7 Benefits of Purchasing Sustainable Housing
Our Top Five Sustainable Home Renovations For 2023
6 Ways Eco-Friendly Photographers Can Take Beautiful Natural Pictures
Emerging Research In Seagrass Restoration: What Does The Future Hold?
Sustainable Bites: How To Make Your Diet Eco-Friendly
Coffee Farms & Cloud Forests: Colombia’s New Eco Initiatives
Electric Cars: Are They Worth The Switch?
Maximizing the Efficiency of Deliveries: Strategies for Sustainable Businesses
The Future of Sustainability In The Logistics Industry
Eight Different Eco-Friendly Developments in the Food Industry
5 Key Areas to Look at When It Comes to Business Sustainability
Holding Eco-Friendly Coins is Greener and More Profitable
Addressing Leadership Challenges in Green Entrepreneurship
5 Reasons That Diamonds Can Be Excellent Green Investments
Why Should We Invest in Eco-Friendly Homes?
The Rise of Sustainable Cloud Computing
Navigating Towards A Greener Future: Sustainable Practices In Maritime
Eco- Friendly Homes Integrating Environmental Consciousness into Modern Real Estate
- Features3 months ago
What is the Eco-Friendliest Option to Wash Your Dishes?
- Environment7 months ago
6 Home Improvements You Can Make to Help the Environment
- Environment11 months ago
How to Ensure Your Home’s Eco-Friendly During Construction?
- Business10 months ago
The Pulp & Paper Industry is Reaching its Sustainability Goals