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To tackle China's profound environmental problems, Chinese leaders are now incorporating environmental targets in 5-year plans and experimenting with market-based mechanisms to supplement their traditional command and control mechanisms for environmental protection. In the recent years, China has produced a series of green policies, including green tax, green procurement, as well as green policies relevant to the financial sector, namely, green credit, insurance, and security policies. Of the three, the green credit policy is the most advanced, with three agencies (the Ministry of Environmental Protection, the Peoples' Bank of China, and the China Banking Regulatory Commission) sharing the responsibility for implementation. The policy, approaching its fourth year of implementation, has proved resistant to China's massive economic upheaval following the global financial crisis. Its future success depends on effective environmental data collection and dissemination, technical guidance, and provision of true financial incentives for banks. The continued success in implementation could potentially provide China with the experience and confidence to address new challenges, such as the environmental and social conduct of its enterprises overseas. [ABSTRACT FROM AUTHOR]

The emphasis of the world's transboundary water law has gradually shifted in the past half century from water resources development to water resources management and environmental protection. This change in institutional focus is a natural outcome of changing resource conditions, in particular the high levels of water resources development achieved in many regions as well as rising economic prosperity and associated changes in environmental perception. Surprisingly, this analysis reveals that transboundary water law in sub-Saharan Africa (SSA) follows these global trends even though SSA's levels of water resources development, economic prosperity, and food security are significantly lower than any other region in the world. These findings suggest that the nature of SSA's transboundary water law may be largely "handed down" from other parts of the world with different realities than those present in SSA. Recognizing this relationship can provide important lessons for improving transboundary water governance in the region. [ABSTRACT FROM AUTHOR]

This study takes a fresh look at the regulatory determinants of foreign direct investment (FDI) by asking whether the stringency and sustainability of environmental regulations affect FDI flows across 25 Western and Eastern European countries. Unlike the earlier literature, which considered only host country characteristics, this article focuses on the difference in the regulatory environments in home and host economies. The data suggest that more stringent environmental regulations in the investor's country relative to those in the potential host country are positively correlated with the probability of investment as well as with the volume of FDI. The results also show that firms in industries with higher abatement costs tend to invest more abroad. [ABSTRACT FROM AUTHOR]