China National Petroleum Corp has agreed a $32m environmental settlement in the nation’s largest public interest lawsuit, five years after China’s worst-ever crude oil spill fouled the coast near the northeastern port of Dalian.
CNPC, parent of listed PetroChina, agreed to set up a Rmb200m “environment sustainability and protection fund” to settle a court case brought by the Dalian Environmental Protection Volunteers Association, a local organisation with strong backing from former city officials.
The case is one of a growing list of penalties after the implementation of the Environmental Protection Law early this year, which allowed for higher fines against companies and permitted civic groups to bring lawsuits against polluters.
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