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Managing environmental compliance according to ISO standards heavily relies on understanding and adhering to legislative and regulatory requirements. ISO standards, particularly those related to environmental management such as ISO 14001, emphasize the need for organizations to identify and comply with applicable laws and regulations. This compliance is fundamental for ensuring that the organization's operations do not negatively impact the environment, thus promoting sustainable practices.

By focusing on legislative and regulatory requirements, companies can develop policies and procedures that ensure they meet their legal obligations and avoid potential fines or penalties. This aspect also encourages organizations to stay informed about changes in environmental laws, which can enhance their overall management systems. Compliance serves as the backbone for effective environmental management programs, allowing organizations to demonstrate their commitment to environmental stewardship, which can positively influence stakeholders and improve reputation.

While the other options, like market share analysis, product lifecycle management, and financial forecasting, can contribute to operational effectiveness and strategic planning, they do not directly address the core responsibilities associated with environmental compliance under ISO standards.