3ABPrinciples of ecologically sustainable use

3AB Principles of ecologically sustainable use

For the purposes of this Act, the following principles are principles of ecologically sustainable use: (a) decision‑making processes should effectively integrate both long‑term and short‑term environmental, economic, social and equitable considerations; (b) the precautionary principle; (c) the principle of inter‑generational equity—that the present generation should ensure that the health, diversity and productivity of the environment is maintained or enhanced for the benefit of future generations; (d) the conservation of biodiversity and ecological integrity should be a fundamental consideration in decision‑making; (e) improved valuation, pricing and incentive mechanisms should be promoted.