Under the initiative, which aims to promote DM as a self-regulating industry, businesses will be provided with a standard against which the environmental performance of a direct marketing campaign can be independently certified.
It is hoped that this will improve the environmental record and public image of direct mail, and stave off the threat of having regulation imposed upon the industry.
Various studies have shown that the public believe advertising mail makes up between 20-48% of household waste, according to GI Direct sales and marketing director Patrick Headley.
He said: "In reality, the figure stands at only 2%. Public perception of the industry is completely out of kilter with reality."
Although currently a voluntary code of practice, he said investment in PAS 2020 is worthwhile.
"It can prove difficult to keep an eye on the environmental ball, in what will undoubtedly be a tough year for the industry. However, those companies that don't will not survive," he added.
Nick Dixon, chief executive of the Lateral Group, said that anyone who sees PAS 2020 as a negative development for the industry is stuck in the dark ages.
He said: "If we can't comply with a voluntary code like PAS 2020, we've got no hope of continuing to operate without strict legislative restrictions."
The only drawback of PAS 2020, according to Dixon, is that it adds another layer of environmental code to an already complex system.
As a result, it will be a challenge for businesses, regardless of their size, to make sense of the new rules and how to apply them.
There is also concern about whether companies can implement the recommendations in the standard without sacrificing returns on marketing investment.
Dixon said: "Simply saying it is too expensive is not going to cut it."
He added that it would be difficult for SMEs to find any justification, even financial, for not adhering to the new code.
To coincide with the launch of PAS 2020, a new website, www.greendm.co.uk, has been launched bringing together the Lateral Group, Royal Mail and Mindshare.
PAS 2020 was launched on 21 January and is commissioned by the Direct Marketing Association. It is sponsored by Acxiom, the Incorporated Society of British Advertisers, Royal Mail and the Telephone Preference Service.