New EEZ legislation more certainty for investment

Press release from Straterra
2 June 2011
New EEZ legislation

New EEZ legislation more certainty for investment – Straterra

Businesses will be able to access a modified form of the RMA in the oceans, following Environment Minister Nick Smith’s announcement today, Straterra says.

“This is the logical approach to environmental consenting of applications for development in the Exclusive Economic Zone and extended continental shelf,” said Chris Baker, CEO, Straterra.

“The current regime for the EEZ and the ECS is not that specific, and it is clear there needs to be public input into applications for significant activities. Industry engages with others anyway and this new legislation would formalise that."

“Having the Environmental Protection Authority as the consenting body is appropriate and it is hoped will lead to streamlined processing of applications."

“It is generally the case that good information on the economic, social and environmental issues is only available when considering specific proposals for resource development. The Resource Management Act 1991 currently provides for a case by case approach to considering applications and this would be rolled out into the EEZ and the ECS."

“The new legislation is a positive step towards realising the potential of our ocean resources such as oil and gas, ironsands, rock phosphate, and deep sea metals."

“The Minister also said that marine protection would be addressed via a strengthened Marine Reserves Act, and we support that."

ENDS

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