Principle of improved valuation, pricing and incentive mechanisms
24 Principle of improved valuation, pricing and incentive mechanisms
Environmental factors should be included in the valuation of assets and services.
Persons who generate pollution and waste should bear the cost of containment, avoidance and abatement.
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.
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.
Division 2 Management hierarchies
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