Stage 1
Understanding and Navigating the Regulatory Landscape
In Stage 1, “Understanding and Navigating the Regulatory Landscape,” health care suppliers embark on understanding and navigating the complex regulatory landscape governing environmental sustainability.
This stage equips supply chain organizations with the necessary knowledge and insights to comply with existing regulations while preparing for upcoming changes in environmental policies. Additionally, this stage highlights the importance of assessing the applicability of environmental justice laws and regulations. By comprehending the regulatory landscape, companies can lay a solid foundation for their sustainability efforts and develop strategies aligned with federal laws and regulations, as well as state-specific and country-specific requirements.
Stage 1
Understanding and Navigating the Regulatory Landscape
Stage 2
Governance and Organizational Planning
Stage 3
Tackling Scope 1 & 2 Emissions
Stage 4
Tackling Scope 3 Emissions
Stage 5
Striving for Continuous Improvement
Stage 1
Understanding and Navigating the Regulatory Landscape
Stage 2
Governance and Organizational Planning
Stage 5
Striving for Continuous Improvement
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Actions
Identify federal laws and requirements to comply with.
- Understand key laws and regulations, such as Securities and Exchange Commission (SEC) filing requirements, Environmental Protection Agency (EPA) mandates, European Union (EU) directives, and relevant regulations from other countries (for multinational organizations), and more
- Get ahead of potential requirements through proactive/voluntary efforts
Inflation Reduction Act
The Inflation Reduction Act Brings New Opportunities for Health Care’s Climate Action
SEC Fact Sheet – The Enhancement and Standardization of Climate-Related Disclosures
Climate Change Regulatory Actions and Initiatives
Qualifying Advanced Energy Project Credit Allocation
Identify existing state laws and compliance prerequisites, actively compile a checklist of state-specific agencies for consultation.
- For multinational companies, identify country-specific laws and compliance prerequisites
- Assess the applicability of environmental justice laws and regulations
- Get ahead of potential requirements though proactive/voluntary efforts
SEC Fact Sheet – The Enhancement and Standardization of Climate-Related Disclosures
Climate Change Regulatory Actions and Initiatives
Identify and engage beneficial voluntary standard-setting organizations.
E.g., those with guidance on metrics, transparency, goal setting, etc.
Greenhouse Gas Emissions Reduction Targets and Market-based Policies
The 4 A’s of Climate Leadership
ASTM Sustainability Standards
Potential Challenges
Complexity of Regulations
Navigating the intricate web of environmental regulations and policies can be challenging, especially when regulations vary across regions and evolve over time.
Climate Change Regulatory Actions and Initiatives
Qualifying Advanced Energy Project Credit Allocation
Compliance Costs
Implementing necessary changes to comply with regulations may require upfront investments in technology, processes, and training, posing financial challenges.
Inflation Reduction Act
The Inflation Reduction Act Brings New Opportunities for Health Care’s Climate Action
Qualifying Advanced Energy Project Credit Allocation
Limited Internal Expertise
Organizations may lack in-house expertise and resources to fully comprehend and interpret complex regulations and their implications.
SEC Fact Sheet – The Enhancement and Standardization of Climate-Related Disclosures
Climate Change Regulatory Actions and Initiatives
Changing Regulatory Landscape
Constantly evolving regulatory requirements can make it difficult for organizations to keep pace and adapt their sustainability strategies accordingly.
SEC Fact Sheet – The Enhancement and Standardization of Climate-Related Disclosures
Climate Change Regulatory Actions and Initiatives
Stakeholder Alignment
Balancing diverse stakeholder expectations and ensuring alignment between internal practices and regulatory obligations can present challenges.
Greenhouse Gas Emissions Reduction Targets and Market-based Policies
The 4 A’s of Climate Leadership
ASTM Sustainability Standards
