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Legislative Assembly for the ACT: 1996 Week 6 Hansard (23 May) . . Page.. 1728 ..

ENVIRONMENTAL". (continuing):

I believe that the Labor Party is not going to support these amendments. (Extension of time granted) Thank you. I would like to point out to the ALP that its election platform has some very strong principles of ESD and does claim to support environmental accounting. In their economics and employment policy they say that they will "ensure that economic development is carried out in an ecologically sustainable manner. In all decisions, the environmental impact of Government policy decisions shall be considered".

Ms McRae: If we were in government we would. We will show you. Give us a go.

MS TUCKER: You can support this amendment. How can we do this if we do not even know what the impact of Government policy decisions on the environment is? The changes required are not small, and to date the political will has not been there; but we have to start somewhere and some time. The ACT is a great place to start. In Australia an enormous amount of energy was poured into the ESD process, and undoubtedly some very good things flowed from it; but the central challenge has not been met. We hope that these amendments will be supported and will mean that, over time, environmental reporting will receive the status, regularity, rigour and integration it deserves.

MRS CARNELL (Chief Minister and Treasurer) (5.29): Mr Speaker, the Government will not be supporting amendment No. 1 or, for that matter, No. 2. The Government totally supports the move to environmental accounting. I think it is something that needs to be done, and I am sure that all present would agree with that. However, the amendment as it now stands proposes the task of measuring and monitoring every year the direct and indirect costs and benefits of all things affecting ecologically sustainable development generally in the ACT. Unfortunately, at this stage, Mr Speaker, it really is not achievable. In fact, as yet there is no agreement on what actually constitutes an environmental asset. Environmental researchers and the accountancy profession are yet to develop appropriate standards.

Ms Tucker spoke about a lot of work that is currently being done. The Society of Certified Practising Accountants published a research paper called "A Review of Environmental Accounting 1995". They supported the concept of environmental accounting, but acknowledged that there were still many technical issues which needed to be resolved before a workable model could be introduced. Internationally, as well, research is currently being undertaken - I think Ms Tucker made a comment about the various places where it is being undertaken - but much of this research is still to be published, Mr Speaker.

As yet, no jurisdiction in Australia has attempted to introduce an environmental accounting framework, and the reason for that, Mr Speaker, quite simply, is that the basis of that framework is not there at this stage. We believe strongly that we should be part of the move by the Australian Bureau of Statistics and other entities to have this sort of accounting at some stage in the future, but to legislate in the ACT at this stage would certainly be premature. Apart from the obvious cost, it would be almost impossible

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