Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe following principles are principles of ecologically sustainable development :
(a) decision - making processes should effectively integrate both long - term and short - term economic, environmental, social and equitable considerations;
(b) 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;
(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 biological diversity and ecological integrity should be a fundamental consideration in decision - making;
(e) improved valuation, pricing and incentive mechanisms should be promoted.