Governments are increasingly turning to regulation to respond to the stress placed on the environment from climate change, biodiversity decline, water stress, and pollution. The number of environmental laws have increased 38 fold since 1972 according to a UN Environment report. Businesses that begin responding to these challenges before legislation is enacted can save time and money by having time to prepare and plan.
In addition to complying with laws and regulations, companies are increasingly required to meet environmental standards and certification schemes, which are used to provide consumers assurances that a product or service has certain environmental characteristics. Standards can cover a range of issues including energy efficiency, greenhouse gas emissions, recycling, biodiversity protection, eco-design and product claims such as ‘biodegradable’, ‘carbon neutral’ and ‘organic’. Tools such as the International Trade Centre’s Standards Map allow businesses to compare and decide on which standards are relevant for their activities.