193Principles of ecologically sustainable development

#### 193 Principles of ecologically sustainable development 193 Principles of ecologically sustainable development > > (1) The principles of ecologically sustainable development are the following— > > > > > (a) the precautionary principle, > > > > > (b) inter-generational equity, > > > > > (c) conservation of biological diversity and ecological integrity, > > > > > (d) improved valuation, pricing and incentive mechanisms. > > > (2) The precautionary principle is 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. > > > (3) In applying the precautionary principle, public and private decisions should be guided by— > > > > > (a) careful evaluation to avoid, wherever practicable, serious or irreversible damage to the environment, and > > > > > (b) an assessment of the risk-weighted consequences of various options. > > > (4) The principle of inter-generational equity is that the present generation should ensure the health, diversity and productivity of the environment are maintained or enhanced for the benefit of future generations. > > > (5) The principle of the conservation of biological diversity and ecological integrity is that the conservation of biological diversity and ecological integrity should be a fundamental consideration. > > > (6) The principle of improved valuation, pricing and incentive mechanisms is that environmental factors should be included in the valuation of assets and services, such as— > > > > > (a) polluter pays, that is, those who generate pollution and waste should bear the cost of containment, avoidance or abatement, and > > > > > (b) the users of goods and services should pay prices based on the full life cycle of the costs of providing the goods and services, including the use of natural resources and assets and the ultimate disposal of waste, and > > > > > (c) established environmental goals 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.