Qualified organizations other than the SCEP and the SCS probably exist and may wish to advance their candidacies to become Russia's official accreditation body. The most important criteria for success are the credibility and seriousness of the organization and the organization's ability to reach and maintain mutual recognition agreements with accreditation bodies in Europe, Asia, and North America. Many will be motivated to implement ISO 14001 standards when they learn that the establishment or maintenance of a competitive trade advantage is at stake or that registration to ISO 14001 will increase the attractiveness of their companies to foreign investors. To complete its modernization and develop to its full potential, the Russian economy must attract hundreds of billions of dollars in foreign capital and investment. The degree to which the country succeeds will depend significantly on how foreign investors and entrepreneurs gauge the risks of making such investments.
Environmental risks can be and, in many cases, have been deterrents to investors.
Russian enterprise is increasingly aware of such obstacles and will want to demonstrate its commitment to minimizing such risks through the implementation of EMSs. The act of implementing EMSs will address the inefficiency of industrial operations related to the use of materials, substances, energy, water, and land. Minimizing waste and the misuse of resources will contribute significantly to achieving these outcomes. Through EMSs, Russian industry can develop an employee ethic that promotes respect for both the natural world and the welfare of the enterprise. Viewed from a global market perspective, it is difficult to see how Russian industry can achieve and maintain global competitiveness without investing in both human resource development and technology.