How can low hazards affect regulatory policies?

Low hazards can significantly influence regulatory policies as they provide a baseline for establishing guidelines that promote safe practices without imposing overly restrictive measures. When a hazard is classified as low, regulators may opt to encourage compliance through education, best practices, and incentives rather than through stringent regulations. This approach fosters a cooperative relationship between regulatory bodies and the entities they oversee, empowering stakeholders to adopt preventative measures voluntarily. Furthermore, it allows for the allocation of resources to more pressing issues, ensuring that safety standards are maintained while balancing economic and operational impacts on businesses and communities.