The Act provides for “the prevention, control and abatement of pollution and environmental harm, for the conservation, preservation, protection, enhancement and management of the environment and for matters incidental to or connected with the foregoing”.
To protect the environment of the State by taking into consideration 5 key principles. 1: Precautionary principle, 2: intergenerational equity, 3: conservation of biological diversity and ecological integrity, 4: improved valuation, pricing, and incentive mechanisms, 5: principle of waste minimisation.
The bill seeks to establish a national voluntary biodiversity certificate. Where when a landowner undertakes an activity that enhances or protects biodiversity, they can apply for a biodiversity certificate. The Clean Energy Regulator acts as the approver of certificates in the market.