Spain makes green liability insurance compulsory

Parliament approves environmental liability law with mandatory financial guarantee from 2010

A new Spanish environmental liability law is set to enter force after receiving parliamentary approval on Thursday.  The assembly rejected proposals from the opposition to postpone beyond April 2010 implementation of the law’s most innovative feature: mandatory insurance against environmental damage where potential for widescale damage exists (EED 12/03/07).  The law will cover 5000 industrial installations and around a million farms.  Environmental NGO Ecologistas en Acción broadly welcomed the measure but criticised loopholes relating to marine oil pollution, shipments of waste outside the EU and the activities of Spanish companies abroad.  See environment ministry press release

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