(2) In this section,
"ecologically sustainable development" and the
"principles and programs" that relate to it are to be construed according to
their meanings in the statements of principle set out in subsection (3) (the
"principles of ecologically sustainable development" ).
(a) the
precautionary principle--namely, that if there are threats of serious or
irreversible environmental damage, lack of full scientific certainty should
not be used as a reason for postponing measures to prevent environmental
degradation. In the application of the precautionary principle, public and
private decisions should be guided by--
(i) careful evaluation to avoid,
wherever practicable, serious or irreversible damage to the environment, and
(ii) an assessment of the risk-weighted consequences of various options,
(b)
inter-generational equity--namely, that the present generation should ensure
that the health, diversity and productivity of the environment are maintained
or enhanced for the benefit of future generations,
(c) conservation of
biological diversity and ecological integrity--namely, that conservation of
biological diversity and ecological integrity should be a fundamental
consideration,
(d) improved valuation, pricing and incentive
mechanisms--namely, that environmental factors should be included in the
valuation of assets and services, such as--
(i) polluter pays--that is, those
who generate pollution and waste should bear the cost of containment,
avoidance or abatement,
(ii) the users of goods and services should pay
prices based on the full life cycle of costs of providing goods and services,
including the use of natural resources and assets and the ultimate disposal of
any waste,
(iii) environmental goals, having been established, should be
pursued in the most cost effective way, by establishing incentive structures,
including market mechanisms, that enable those best placed to maximise
benefits or minimise costs to develop their own solutions and responses to
environmental problems.