Victorian Consolidated Legislation

Environment Protection Act 1970 - SECT 1F

Principle of improved valuation, pricing and incentive mechanisms

1F. Principle of improved valuation, pricing and incentive mechanisms



(1) Environmental factors should be included in the valuation of assets and
services.

(2) Persons who generate pollution and waste should bear the cost of
containment, avoidance and abatement.

(3) Users of goods and services should pay prices based on the full life cycle
costs of providing the goods and services, including costs relating to the use
of natural resources and the ultimate disposal of wastes.

(4) Established environmental goals should be pursued in the most cost
effective way by establishing incentive structures, including market
mechanisms, which enable persons best placed to maximise benefits or minimise
costs to develop solutions and responses to environmental problems.