THE BENEFITS OF PRODUCT STEWARDSHIP

·         Strengthens industry-wide voluntary initiatives;

·         Supports voluntary value chain initiatives on chemicals management in different industry sectors (e.g., electronics, coatings, personal care, household, etc.);

·         Facilitates compliance with industry initiatives and practices (e.g., Responsible Care, product stewardship codes and other guidance);

·         Helps meet expectations of external stakeholders (e.g., corporate social responsibility and sustainable development commitments);

·         Improves business management efficiency (e.g., better targeting of worthwhile market opportunities);

·         Reduces the likelihood of unnecessary capital and other expenditure (e.g., when it becomes clear that risks outweigh further investment in chemical development); 

·         May lead to reductions in insurance premiums through the ability to demonstrate that chemical-related risks are being adequately controlled;

·         Improves public confidence in chemicals;

·         Protects product brands;

·         Protects and enhances the value of investor shareholdings;

·         Supports compliance with chemical regulations.