Voluntary tools of environmental policy present a set of activities primarily used by business entities to reduce their negative impact on the environment. These tools provide a systemic approach to environmental issues, and their implementation can bring many advantages, including cost reduction, competitiveness, enhanced innovation and the creation of a green image. Most importantly, companies in all economic sectors and areas can now choose from the wide range of voluntary tools which will ensure improvement in their environmental performance. Although decision making processes in the selection of adequate environmental policy tools requires consistent analysis of major environmental issues, setting appropriate criteria and specific company demands is essential to reap the expected benefits from particular environmental policy implementation. This paper therefore presents possible approaches to the selection of environmental policy tools which will respond to specific company demands, and the proposed approach is verified in the case study of a national production company.