Argentina makes environmental insurance a must

17 Oct 2008 01:12:45 GMT
Source: Reuters
BUENOS AIRES, Oct 16 (Reuters) - Argentine officials said on Thursday theirs is the first government worldwide to require that companies engaged in potentially hazardous activities buy insurance to cover environmental damage.

Government officials said preliminary figures show that about 35,000 companies would have to comply with the new rules

www.alertnet.org...

Sounds like a proper idea. Knowing you are going to destroy everything around you so you buy your 'renters' insurance that cleans up for all the parties you threw. At least there is dialogue.

I found it interesting the notion in the article that they are following Europe's lead regarding their plan, yet they will be the first country to require the insurance. What does this mean and can anyone throw in their two cents on good/bad outcomes of such a plan? Should we mandate this here in the US?

ColoradoJens

[edit on 17-10-2008 by ColoradoJens]