- What is Chemical Leasing?
- Global Award
The European Union (EU) regulation REACH was adopted in 2006 to improve the protection of human health and the environment from the risks that can be posed by chemicals, while enhancing the competitiveness of the EU chemical industry. In principle, REACH applies to all chemical substances and therefore impacts most companies across the EU.
To comply with the regulation, companies must identify and manage the risks linked to the substances they manufacture and market in the EU. They have to demonstrate how the substances can be used safely, and they must communicate risk management measures to the users.
Chemical Leasing supports the objectives of regulative legislations such as REACH:
- Chemical Leasing and REACH share the same philosophy of sharing the costs, benefits, responsibility and know-how between chemical suppliers and users.
- Like Chemical Leasing, REACH aims to impact a wide range of companies across many sectors, including manufacturers, importers, exporters and downstream users.
- Chemical Leasing secures compliance with the obligation or duty to handle chemicals with care. This implies that chemicals and their applications are not only monitored but also managed with maximum accuracy. This is fully aligned to the principles of REACH.
- Chemical Leasing is also an effective tool for demonstrating adequate risk control, as specific parameters must be fulfilled in order to obtain authorization. Adequate control is an inherent principle of REACH.
- Chemical Leasing has the potential, in the long run, to accelerate the substituting of the most hazardous substances with less dangerous ones. In the future, Chemical Leasing models could be designed to trigger “fast track” licensing procedures and special conditions such as reduced registration/authorization fees within the REACH application process.