Here is some info on the impact done by the ICCA Global Product Strategy.
Environmental Safety Assessment Sodium hypochlorite is very toxic to aquatic organisms. However, as the substance is extremely reactive, any sodium hypochlorite which is poured into the drain from household use will react with organic matter and will be removed before reaching the environment. Sodium hypochlorite is often added deliberately to drinking water supplies and swimming pools for disinfection and destruction of almost all harmful microorganisms. Industrial use sometimes results in the discharge of weak solutions of sodium hypochlorite directly into the environment, which is rapidly removed by reaction. The substance can be handled at all stages of manufacture and use with a minimal impact on the aquatic environment. Additionally, the substance is not bioaccumulative, is rapidly degraded and will not persist in the environment.
Environment Sodium hypochlorite is harmful to the aquatic environment, but exposure rarely occurs. Household waste flushed down the drain or toilet is destroyed by reaction before reaching the environment. Professional or industrial waste generally enters into waste water treatment plants, where the substance reacts and is removed before reaching the environment. Weak solutions are sometimes released directly into the environment from industrial sites such as power plants, but these levels have been assessed as being safe and not causing damage to the wider environment, due to the rapid reaction of the substance with organic matter.