State and Federal Innovations
What Is Regulatory Innovation?
Regulatory innovations, or second generation environmental protection tools, cover state and federal activities that fall outside of traditional regulatory systems. Most regulatory innovations require companies to implement an environmental management system and satisfy other requirements to receive regulatory benefits.
In 1998, U.S. EPA and the Environmental Council of the States signed an agreement creating the framework under which regulatory innovation could proceed. For more information, see ECOS’ website on regulatory innovation.