The European chemical industry warns that the REACH safety regulation is “a monster” that will “devour” innovation, according to an article from Euractiv.com. The European Chemical Industry Council (CEFIC) says EU policymakers should “set tangible regulatory burden reduction targets” to enhance competitiveness and growth and takes aim at REACH regulation, which requires manufacturers to register thousands of chemicals on the market and submit them for safety screening and authorization.
REACH initially involved chemicals produced in large quantities, according to the article, and that process has progressed relatively smoothly, according to the article. The regulation’s worst effects are yet to come for chemicals produced in smaller quantities, says CEFIC. The burden of meeting 2018 deadlines set by REACH for substances produced in the smallest quantity band (1-1,000 metric tons per year) will place a particular burden on small and medium sized enterprises (SMEs). CEFIC Vice President Tony Bastcok notes that companies are now spending more money on regulatory compliance than innovation while Europe struggles to compete on global markets.
Read the entire article here.
