Smart regulation is sustainable development in action. It is about governing differently, consistent with the principles of sustainable development, by both protecting the environment and enabling a healthy economy and innovation. This can be achieved through more efficient decision-making on policies, laws and regulations, and more timely approval processes that in turn foster:

• an improved investment climate,
• fewer costly delays for substantial resource development projects,
• competitiveness of industry and a healthy economy and trade balance, and
• better integration of government policy objectives (economic, environmental and social) for improved stewardship and productivity.

“This is a fundamental and critical shift in perspective which the government must embrace to achieve its goals for Canada. The goal of Smart Regulation is not to diminish protection or devalue regulation, but to support social and economic goals equally well.”

– External Advisory Committee on Smart Regulation