Submission to Senate Environment and Communications References Committee Inquiry into Faunal Extinction Recommendations 1. Recognise that there is no species eradication crisis in Australia; 2. Protect existing property rights to the maximum extent possible and fully compensate landholders for regulatory imposts to promote biodiversity conservation; 3. Provide for equivalent biodiversity conservation offsets when regulating the clearing of land for economic development;

While international agreements are as old as arrangements for peaceful co-existence between different bodies of people, there has been a vast increase in number, size and scope of these agreements between sovereign states in recent years.

Economic instruments are designed to bring about cost effective pollution control. This involves sheeting home to the emitters of pollutants the costs they impose on others, and providing incentives for emitters to reduce those costs.

There is always a trade-off between re-using material that has been previously manufactured or harvested and preparing the material from scratch. Recycling can be readily seen in activities ranging from building materials used as filler for new buildings through re-used bottles to second hand clothing. Market forces and not government should determine whether or not recycling takes place. In order for the market forces to make that decision efficiently, there should be clearly defined property rights and obligations, and an absence of monopolistic market power.

1991