This Agreement between Commonwealth and all states and territories, called the National Water Initiative, seeks to outline Australia’s national water reform. This shared commitment by all Australian governments provides a framework and principles for the sustainable management of Australia's water resources. It aims to increase the efficiency of Australia’s water use, provide investment confidence and greater certainty for the environment, and improve water security for rural and urban communities. Recognizing water as a part of the natural capital of Australia, this Agreement aims at regulating the use of water for its various purposes within a complete framework that will increase the productivity and efficiency of water use and ensure the health of rivers and groundwater resources. Under section 23, the complete implementation of the Agreement will result in a nationally-compatible, market, regulatory and planning based system of managing surface and groundwater resources for rural and urban use that optimises economic, social and environmental outcomes.
The Parties agree to address several issues related to water within this National Water Initiative, in particular water access entitlements, environmental and other public benefit outcomes, water planning, over-allocation and overuse of water, water resources allocation, and indigenous rights. The Agreement also addresses water markets and trading, best practice water pricing, integrated management of environmental water, water resources accounting, urban water supply, community partnerships, and capacity building. The Agreement also provides for monitoring of it implementation and review. Specifically, under the NWI, all states and territories committed to: prepare water plans with provisions for the environment; achieve sustainable water use in over-allocated or stressed water systems; introduce registers of water rights and standards for water accounting; expand trade in water rights; improve pricing for water storage and delivery; better manage urban water demands.
The Parties agree to address several issues related to water within this National Water Initiative, in particular water access entitlements, environmental and other public benefit outcomes, water planning, over-allocation and overuse of water, water resources allocation, and indigenous rights. The Agreement also addresses water markets and trading, best practice water pricing, integrated management of environmental water, water resources accounting, urban water supply, community partnerships, and capacity building. The Agreement also provides for monitoring of it implementation and review. Specifically, under the NWI, all states and territories committed to: prepare water plans with provisions for the environment; achieve sustainable water use in over-allocated or stressed water systems; introduce registers of water rights and standards for water accounting; expand trade in water rights; improve pricing for water storage and delivery; better manage urban water demands.
Recognizing water as a part of the natural capital of Australia, this Agreement aims at regulating the use of water for its various purposes within a complete framework that will increase the productivity and efficiency of water use and ensure the health of rivers and groundwater resources. Under section 23, the complete implementation of the Agreement will result in a nationally-compatible, market, regulatory and planning based system of managing surface and groundwater resources for rural and
The Agreement has been concluded between the Commonwealth of Australia and the Governments of New South Wales, Victoria, Queensland, South Australia, the Australian Capital Territory and the Northern Territory.
Title:
Intergovernmental Agreement on a National Water Initiative.
Country:
Australia
Type of document:
Miscellaneous
Repealed:
No