Sandra Winn
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While numerous environmentalists are looking forward to President-elect Barack Obama’s inauguration on January 20th, 2009, some businesses who enjoy capitalistic freedoms may not be. The cosmetics industry is one such sector that would be impacted should the political pendulum dictating EPA regulation swing to the left. Here is a snippet from a report from the Cosmetics Business website showing why this is an area of concern: “The incoming president said in a news conference announcing his environmental team on 15 December that his nominee for EPA director, Lisa Jackson, shared his goal of ‘restoring the EPA’s robust role’ in protecting air, water and the broader environment, a hint that he is eyeing more substantial regulation of industry.” As of now, the cosmetics companies do not bear the same burden as those who fall under the 1976 Toxic Substances Control Act (TSCA). Thankfully, some cosmetic manufacturers have produced eco-friendly beauty products of their own volition and have their products tested for safety. However, for beauty and cosmetics companies who aren’t used to paying for chemical testing, they may soon find themselves shelling out a substantial amount of their now much enjoyed profits…under the scrutinizing eyes of the US Government.  The international cosmetics industry is watching closely for signs of regulatory changes that could be afoot under the incoming Obama administration and a new Congress in the US, with increased Democratic majorities. Perhaps the biggest question is over environmental policy, where the president-elect has pledged to be much more aggressive than George W Bush and may push for added regulations that would prove costly to leading cosmetics firms.
(blogue.us)References: cosmeticsbusiness, blogue.us Filed In: |
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