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Regulations & Clean Technology
A Review of Best Practices in Select Jurisdictions
Regulations that support transformational change and accelerate the commercialization of innovative solutions will be critical in addressing pressing environmental challenges and climate objectives.
This study examines two different regulatory models: regulatory sandboxes and autonomous regulatory authorities. Examples studied in this report provide similar evidence of how the coordination and tailoring of more, rather than less, stringent regulatory requirements can support environmental policy goals, innovation and economic growth.
An analysis of the case studies provide lessons in the design of an effective regulatory model, including: the regulator’s mandate, stakeholder involvement, and the stringency of requirements.
Three overarching components are central to the design of a regulatory body that is tasked to act as a change agent to drive innovation and clean growth:
- Clearly defined vision and longer-term policy objective(s);
- Regulatory autonomy and multistakeholder governance; and,
- Stringent requirements with inbuilt dimensions of flexibility.