What the chemical management plan has done is taken the 4,300 substances of concern that were identified through an initial screening and put some into a high-priority fast track or priority analysis and put them also in a perspective of sector approach. So there is always a trade-off when the government is working on chemicals. Do you look at it substance by substance or do you look at clusters and groups? So in this case we're actually trying to do both.
And the reason to look at it by a sectoral approach is to enable industry to start to understand the magnitude of their problem holistically and to start to enable them to identify trade-offs, substitutions, changes to processes that could address more than one substance. So for the case of the chemical management plan, when we clustered them from an oil and gas perspective, we found that 98 substances are relevant. And our objective is to assess those within two to three years. And then if they are found to be substances meeting the criteria under the Canadian Environmental Protection Act, to add them to the schedule, risk management instruments would be developed. So preliminary risk management instruments would be developed at the same pace as the risk assessments are done.
So there will be 98 substances that are currently of concern, and we will have an idea of how many those should have action taken on them, and that preliminary action starts to develop. And of course, as Mr. Cooper explained, this is work we do with Health Canada, so we're working at the same time with both the health impacts and the environmental impacts.