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Pollution liability insurance and Corporate’s responsibility to Vietnam’s society
With the current climate change situation, the requirement of compulsory pollution liability insurance can ensure economic development goals combined with protection of natural resources in Vietnam.
Environment pollution insurance contributes to the enhancement of social sustainable development
The role of pollution liability insurance
Over the years, Vietnam’s government and national assembly have promulgated many legal bases on environmental protection and remedies if environmental incidents occur. In particular, the Law on Environmental Protection 2020 (Article 122, Clause 1) mentioned more specifically the responsibilities of the owners of production and business establishments in fulfilling their duties to reduce and prevent of the risk of causing environmental pollution from their production activities.
In August, the environmental pollution liability insurance was designated by the Government to become a compulsory environmental insurance product for a number of businesses in industries and occupations with high risks of causing pollution in Vietnam. where the production facility is located.
More specifically, Article 130, Decree 08/2022/ND-CP clearly states: “Investment project owners and establishments are on the list of types of production, business and service with large capacity that are at risk of causing environmental pollution, specified in Column 3, Appendix II issued together with this Decree, is responsible for purchasing liability insurance for damage caused by environmental incidents.”
List of types of production businesses compulsorily required to purchase pollution liability insurance
- Manufacture of electrical and electronic components and equipment; 01 million or more of components and equipment per year or 1,000 tons or more of products per year.
- Rising cattle and poultry on an industrial scale; 1,000 cattle/poultry or more per day
- Slaughter of cattle and poultry on an industrial scale; 1,000 cattle or 10,000 poultry or more per day
- Manufacture of seafood; 20,000 tons or more of products per year
- Manufacture of sugarcane; 10,000 tons or more of products per year
- Manufacture of Industrial alcohol; 02 million liters of product or more per year
- Manufacture of beer, carbonated soft drinks; 30 million liters of product or more per year
- Manufacture of Tapioca, MSG; 10,000 tons or more of products per year
- Processing of latex; 15,000 tons or more per year
- Manufacture of cement; 1,200,000 tons or more per year
- Manufacture of battery, accumulators; 600 tons or more of product per year or 200,000 kWh or more per year
- Plating with a process of cleaning metal surfaces with chemicals; 10,000 tons or more of products per year
- Recycling and treatment of hazardous waste; dismantling used vessels; using imported scrap as raw materials for production; All
- Recycling, treating domestic solid waste, ordinary industrial solid waste; 500 tons or more per day
- Coal gasification; 50,000 m3 or more of gas per hour
- Manufacture of coke (fuel); 100,000 tons or more of products per year
- Coal thermal power; 600 MW or more
- Refining and petrochemistry; Capacity of 1,000,000 tonnes of product/year or higher
- Exploration of crude oil, natural gas; all
- Manufacture of leather (including tanning process); tanning; 10,000 tons or more of products per year
- Manufacture of fabrics, yarns, textiles (including dyeing, washing, textile treatment); 50,000,000 m2 or more per year
- Manufacture of basic inorganic chemicals (except industrial gas), chemical fertilizers (except for mixing, transferring, and packing), plant protection chemicals (except for transferring, and packing); 5.000 tons or more of products per year
- Production of pulp, paper from recycled materials or from biomass; 50,000 tons or more of products per year
- Production of cast iron, steel, metallurgy (except metal rolling, sketching, stamping from raw material); 300,000 tons or more of products per year
- Production of glass (except using gas fuel, diesel oil); 200,000 tons or more of products per year
- Enrichment, processing of dangerous /metallic minerals; processing of minerals using dangerous chemicals; 200,000 tons or more of ore as input materials per year
Below is the list of types of production, business and service with large capacity that are at risk of causing environmental pollution, which are required to purchase liability insurance for damage caused by environmental incidents according to Decree 08/2022/ND-CP;
List of types of production businesses compulsorily required to purchase pollution liability insurance
With the current climate change situation, the requirement of compulsory pollution liability insurance can ensure economic development goals combined with protection of natural resources in Vietnam.
Environment pollution insurance contributes to the enhancement of social sustainable development
The role of pollution liability insurance
Over the years, Vietnam’s government and national assembly have promulgated many legal bases on environmental protection and remedies if environmental incidents occur. In particular, the Law on Environmental Protection 2020 (Article 122, Clause 1) mentioned more specifically the responsibilities of the owners of production and business establishments in fulfilling their duties to reduce and prevent of the risk of causing environmental pollution from their production activities.
In August, the environmental pollution liability insurance was designated by the Government to become a compulsory environmental insurance product for a number of businesses in industries and occupations with high risks of causing pollution in Vietnam. where the production facility is located.
More specifically, Article 130, Decree 08/2022/ND-CP clearly states: “Investment project owners and establishments are on the list of types of production, business and service with large capacity that are at risk of causing environmental pollution, specified in Column 3, Appendix II issued together with this Decree, is responsible for purchasing liability insurance for damage caused by environmental incidents.”
List of types of production businesses compulsorily required to purchase pollution liability insurance
Types of businesses required to purchase pollution liability insurance are diverse in different industries
- Manufacture of electrical and electronic components and equipment; 01 million or more of components and equipment per year or 1,000 tons or more of products per year.
- Rising cattle and poultry on an industrial scale; 1,000 cattle/poultry or more per day
- Slaughter of cattle and poultry on an industrial scale; 1,000 cattle or 10,000 poultry or more per day
- Manufacture of seafood; 20,000 tons or more of products per year
- Manufacture of sugarcane; 10,000 tons or more of products per year
- Manufacture of Industrial alcohol; 02 million liters of product or more per year
- Manufacture of beer, carbonated soft drinks; 30 million liters of product or more per year
- Manufacture of Tapioca, MSG; 10,000 tons or more of products per year
- Processing of latex; 15,000 tons or more per year
- Manufacture of cement; 1,200,000 tons or more per year
- Manufacture of battery, accumulators; 600 tons or more of product per year or 200,000 kWh or more per year
- Plating with a process of cleaning metal surfaces with chemicals; 10,000 tons or more of products per year
- Recycling and treatment of hazardous waste; dismantling used vessels; using imported scrap as raw materials for production; All
- Recycling, treating domestic solid waste, ordinary industrial solid waste; 500 tons or more per day
- Coal gasification; 50,000 m3 or more of gas per hour
- Manufacture of coke (fuel); 100,000 tons or more of products per year
- Coal thermal power; 600 MW or more
- Refining and petrochemistry; Capacity of 1,000,000 tonnes of product/year or higher
- Exploration of crude oil, natural gas; all
- Manufacture of leather (including tanning process); tanning; 10,000 tons or more of products per year
- Manufacture of fabrics, yarns, textiles (including dyeing, washing, textile treatment); 50,000,000 m2 or more per year
- Manufacture of basic inorganic chemicals (except industrial gas), chemical fertilizers (except for mixing, transferring, and packing), plant protection chemicals (except for transferring, and packing); 5.000 tons or more of products per year
- Production of pulp, paper from recycled materials or from biomass; 50,000 tons or more of products per year
- Production of cast iron, steel, metallurgy (except metal rolling, sketching, stamping from raw material); 300,000 tons or more of products per year
- Production of glass (except using gas fuel, diesel oil); 200,000 tons or more of products per year
- Enrichment, processing of dangerous /metallic minerals; processing of minerals using dangerous chemicals; 200,000 tons or more of ore as input materials per year
Below is the list of types of production, business and service with large capacity that are at risk of causing environmental pollution, which are required to purchase liability insurance for damage caused by environmental incidents according to Decree 08/2022/ND-CP;
List of types of production businesses compulsorily required to purchase pollution liability insurance
Pollution liability insurance gives businesses peace of mind in production and compliance with regulation
As one of the oldest and most experienced non-life insurers in Vietnam, Tokio Marine Insurance Vietnam (TMIV) is a reliable address for detailed advice for businesses on whether they are in the list that must buy compulsory environmental pollution liability insurance. Not only that, TMIV also provides environmental insurance products with attractive limits and extended benefits with competitive premiums, giving businesses peace of mind for their production activities and ensure that they meet all legal requirements from the State.
Contact us for a quote today.
Email: customerservice.mkt@tokiomarine.com.vn
Hanoi : 024 3933 0704
Ho Chi Minh: 028 3822 1340
__________________
Referral materials
Law on Environmental Protection 2020
Decree 08/2022/ND-CP
Contact us for a quote today.
Email: customerservice.mkt@tokiomarine.com.vn
Hanoi : 024 3933 0704
Ho Chi Minh: 028 3822 1340
__________________
Referral materials
Law on Environmental Protection 2020
Decree 08/2022/ND-CP
