Regulatory Context
Europe has taken the boldest position in environmental matters, compared to the United States, and compared especially to developing countries [1]. In contrast to the United States, where legislation can only prevent an activity after it is proven to be harmful, Europe takes a “Process” approach (the EU mandates the process, and you can make any product provided it respects the Process). The Process approach assumes that the action is harmful until it is proven safe [2]. This leads to a much more cautious environmental approach.
Europe pays a price for these environmental and social choices. Prices have generally been high and growth rates have generally been low. When I gave a presentation in Barcelona ...
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