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Brand Damage, Financial Liability, Criminal Charges: The High Cost of Not Meeting Regulatory Compliance Obligations

Sandy Smith

Around the world, organizations in every industry have obligations to follow the requirements outlined in various rules, regulations, permits and directives. These requirements outline the way in which a company operates day-to-day, its interaction with the environment and its obligations to the health and safety of its workers.

Regulations can be mandated by any level of government or can be specific within certain industries, with a few important examples being Occupational Safety and Health Act (OSH Act), the Clean Air Act and the Toxic Substances Control Act (TSCA).

When organizations don’t meet their regulatory obligations, the result can be brand damage, financial liability and even criminal charges. For example, Volkswagen has paid billions to settle allegations that it used elaborate technology to cheat emissions tests and deceive customers, while British Petroleum suffered considerable brand and financial damage for its role in the Deepwater Horizon disaster in 2010, which killed 11 workers and caused the largest maritime oil spill in history. Since 2000, the Environmental Protection Agency in the United States has collected over $62 billion in fines relating to noncompliance with environmental regulations.

ehsAI is changing the way organizations manage their regulatory compliance, helping them meet their challenges while continuing to innovate and provide solutions that help meet customer demand. ehsAI’s next-wave compliance technology uses a patent-pending artificial intelligence (AI) and machine learning (ML) solution to analyze, organize and summarize complex regulatory documents.

Read more about it in our blog post.

June 15, 2021 @ 08:00 AM EDT Document Control, Environment, Health & Safety, Operations, Risk Management

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