Tyre Stewardship Australia reposted this
The Australian Government’s primary approach to #productstewardship over the past 25 years has been to encourage producers to voluntarily take responsibility for the socio-environmental impacts of their products rather than to regulate producer responsibility. Unfortunately, this approach is not helping to deliver the government’s environmental and resource management objectives with only one of the seven targets for the National Waste Policy Action Plan to be met by 2030. 'Investing in Intelligent Regulation' is the Centre’s latest white paper which outlines why regulated product stewardship has strong economic advantages over voluntary approaches and the allocation of government grants. Specifically, the paper provides evidence why regulated product stewardship is especially effective in: - Stimulating investment: Regulation provides incentives for private sector investment, including in more challenging economic conditions. - Ensuring that the investment is efficient: Well-designed regulation ensures that investment is aligned with the long-term interests of the community, promoting long-run economic efficiency. - Driving productivity and competitiveness: Regulation provides incentives for innovation and technological growth, driving productivity and competitiveness. By looking at long-term, whole-of-community objectives, regulation: - provides an effective driver to invest - avoids imbalances in investment - ensures that the investment is efficient over time - provides certainty to inform corporate decision-making - underpins productivity and competitiveness - accelerates innovation diffusion providing benefits to current and future generations Regulation does not need to be onerous or highly prescriptive to harness these benefits. Provided it is well-designed, proportionate, provides an impetus for action and certainty for investment while balancing triple-bottom line objectives, it will be effective, efficient and position our economy for long-run success. Intelligent #regulation also provides a pivotal intervention that can break the current cycle of privatising profits while socialising the true cost of the environmental and human health #impacts of products and packaging. Download a copy here: https://lnkd.in/grsfwB8P Productivity Commission #policy #regulation #EPR #environemnt #sustainability #circulareconomy #government #investment #economics #ROI #extendedproducerresponsibility #CEMAG John Thwaites Tanya Plibersek Department of Climate Change, Energy, the Environment and Water Andrew Leigh MP