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Productivity Report hopes to cut red/green tape

Productivity Report hopes to cut red/green tape

Photo by Bloomberg

10th December 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The Productivity Commission has released its final report on Resources Sector Regulation, making 48 findings and 11 recommendations to improve approval processes by removing duplication and cutting red and green tape.

“The community needs to have confidence in regulation and how it is enforced. As well as identifying many opportunities for streamlining and simplification we also found a need for more rigour in areas such as protection of Indigenous heritage,” Commissioner Lisa Gropp said on Thursday.

“While regulatory systems in all jurisdictions have elements of leading practice, considerable scope for improvement remains, and there is much that governments can learn from each other.”

The report stated that governments should focus on getting the basics right, such as setting clear regulatory objectives and establishing institutional and resourcing arrangements if they are to achieve sustained improvement in their regulatory systems.

These foundations authorise and enable regulators to do their jobs well and hold them accountable, and can be put in place reasonably quickly and, by facilitating investment, would help support the Covid-19 economic recovery, Gropp added.

The report listed several priority areas for reform including using a risk-based approach to regulation so that effort is focused on areas of most significance to the community.

Duplication of regulatory processes is a major issue for project proponents and can cause significant delays. The report identifies opportunities for more cooperation, better coordination between regulators and more effective use of data to reduce timelines.

The report also highlighted the importance of effective engagement with local communities, including Aboriginal and Torres Strait Islander communities, saying engagement with communities ensures that concerns about issues including environmental and heritage impacts are properly addressed and programmes that aim to share benefits are effective and align with communities’ needs.

“Building trust is critical and meaningful community engagement should begin early in a project and continue throughout,” Gropp said

Resources, Water and Northern Australia Minister Keith Pitt said the Productivity Commission report backed the government’s plans to streamline environmental approvals, and to oppose state-based moratoria on resources developments.

“The Australian government remains committed to cutting red tape and to removing unnecessary bureaucratic barriers that impede developments and damage investor confidence in Australia’s resources sector,” Pitt said.

“As Australia recovers from the Covid-19 pandemic, it is critical that we encourage investment and development in the sector, which has continued to underpin our economy throughout the pandemic.

“The resources sector remains a pillar of the Australian economy, accounting for more than half of Australia’s total exports, employing around 250 000 Australians and supporting more than one-million other jobs across the country.”

Pitt said while Australia was a top ranking country for resources investment, greater certainty was important to unlock new growth and job creation.

“Now more than ever, as Australia is recovering from the Covid-19 downturn, it is important to make sure our regulatory frameworks are fit for purpose.

“The Productivity Commission has delivered a fresh look at ways to unlock our resources potential and improve investor confidence, including predictability and certainty of decisions in relation to scope 3 emissions, getting rid of state-based bans and moratoria on gas developments, and removing duplication in regulatory processes.

“I look forward to working with states and territories to address recommendations and improve outcomes for industry and communities consistent with this report, the review of Environment Protection and Biodiversity Conservation Act and my commitment to continuous improvement.”

The Australian Petroleum Production and Exploration Association (Appea) on Thursday said that the proposed regulatory reforms would assist in enhancing resource investments.

Appea CEO Andrew McConville said the report has some important recommendations that should be adopted by government to help streamline regulation, reduce duplication and unnecessary costs, all of which will be critical to help further improve the investment environment.

“Regulatory instability and ill-considered market intervention, coupled with Australia being a relatively high-cost destination for business, creates risk for investment appetite and future growth,” McConville said.

“A modern and stable regulatory environment is essential for any industry wanting to grow, and this includes our world class oil and gas sector.

“We should be comfortable that regulatory processes can be improved while also maintaining world class environmental standards. The Productivity Commission report should give all stakeholders confidence that this can be achieved.

“The key task and opportunity now is for the government to move quickly into implementing the recommendations of the report. One of those important recommendations is to reduce Commonwealth-state duplication. We must also ensure the application of risk-and-outcomes-based approaches,” McConville said.

Edited by Creamer Media Reporter

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