As the “third way” of dealing with environmental problems between command and control regulation and free market instruments, voluntary measures are a kind of effective and sensible environmental protection. However, the disadvantages are also obvious like advantages, firstly, there are problems so-called “free-riders”, means there are no explicit enforcement systems; secondly, lack transparency and accountability; thirdly, standards setting at the lower end without incentive to achieve higher.
　　
　　
　　
　　
　　
　　CONCLUSION
　　In a word, for the command and control system, there are numerous criticisms of its ineffectiveness. First of all, sectoral and fragmented perception failed to appreciate the integrated nature of environmental problems. Secondly, there are little incentives for firms to control discharges or to develop cheaper modes of abatement where the standard is already being met. Thirdly, depending on individual bargaining between the agency and polluters, and thus are vulnerable to manipulation by private interests. Fourthly, considerable administrative discretions create enormous economic waste. Lastly, close co-operation between regulators and the regulated spawned a pernicious form of factional politics, and so on. These failings look like to prove the command a control system "appears to have reached the limits of its technical capacity and cost-effectiveness." Much of "the low-hanging fruit has all been picked" after it has achieved significant progress in environmental protection.
　　As the alternative mechanisms, economic instruments and voluntary measures provide more choice for environmental protection but they are also not simple panacea for improving the effectiveness of regulation. Most of economic instruments and voluntary measures have to require a regulatory framework and proper policing, so they must be seen as additional to, rather than separate from, regulatory system.
　　There is no single best regulatory strategy. What is needed is a wide diversity of regulatory policy instruments which can compliment and reinforce one another, an optimal mix of regulations, one which is likely to yield the greatest improvement in environmental quality at the lowest cost.
　　
　　
　　
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