AbstractNew systems approaches by the U.S. Environmental Protection Agency (EPA) have attempted to prevent and limit environmental damages through multimedia management of resources, energy, and environmental impacts, while engaging communities, environmental groups, facilities, industries, states, and local agencies. Collectively these diverse interests have begun to partner with corporate management to work toward a shared vision of how multimedia management and multistakeholder participation can best evolve in concert with environmental management system approaches.This article analyzes one industry‐specific program under the Common Sense Initiative, called an Alternative System of Environmental Protection (ASEP) for the Computers and Electronics Subcommittee. The significance of this working group's attempt to increase regulatory flexibility lies in its collective establishment of an alternative regulatory framework for an entire industry. Contrary to many other EPA single‐facility pilot programs, this method cuts across the entire computer and electronics industry. The group hopes to achieve sector‐wide regulatory improvements through a process providing funding for shared research, dynamic feedback, and technical assistance, while engaging in multistakeholder relationships with communities, workers, local governmental agencies, and other stakeho