An environmental management system developed essentially to assist businesses with an approach for better management control, that can result in reducing their environmental influences. Moreover, improvements in performance, organizations can achieve a number of economic benefits, also good conformance with legislative and regulatory requirements by adopting the ISO standard.
By minimizing the risk of regulatory and environmental liability fines and improving an organization’s efficiency, benefits can include a reduction in waste, consumption of resources, and operating costs. There has been a push by consumers in the last decade for companies to adopt better internal controls, making the incorporation of ISO 14001 a smart approach for the long-term viability of businesses. This can provide them with a competitive advantage against companies that do not adopt the standard. This, in turn, can have a positive impact on a company’s asset value.