Pressure is building on 21st century regulators to work in new ways – and they are being asked to integrate different perspectives, to anticipate and adapt to emerging challenges.

Having effective regulatory stewardship and governance arrangements in place, and building a 360˚ system view to enable timely, proportionate responses to issues that may scale rapidly – are becoming ‘must have’ capabilities for many regulators.

Therefore, new tools are needed for new times. And one way to help cope with the inherent uncertainty of fast-changing regulatory environments and to support sense-making and extending options for decision makers – is for regulators to have consideration of and sensitivity to:

• past patterns;
• present circumstances; and
• plausible futures.

Coherently drawing together an agency’s hindsight, insight, and foresight to enhance regulatory oversight – is one way of growing both capability and future readiness.

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This guest editorial for the ANZSOG-auspiced National Regulators Community of Practice (NRCoP) has been written by Rob Warner, Chief Advisor Strategy, Maritime New Zealand and Dr Grant Pink, RECAP Consultants and Pracademic Advisor to the NRCoP.