In December 2020, the Australian Government finalised a Regulation Impact Statement considering the costs and benefits of ratifying the Minamata Convention on Mercury (the Convention).
The Convention introduces global controls to protect human health and the environment from releases of mercury and mercury compounds caused by humans. Australia signed the Minamata Convention in October 2013, indicating we agree, in-principle to its objectives and obligations. The next step is to ratify the Convention which would make it legally binding for Australia.
Australia’s domestic treaty-making process requires a Regulation Impact Statement (RIS) that assesses the potential implications of ratification.
The Department of Agriculture, Water and the Environment prepared a RIS, which the Office of Best Practice Regulation (OBPR) assessed as good practice.
The final RIS has been developed through extensive public consultation and analysis over several years. An exposure draft RIS and cost benefit analysis were released for public comment in 2016. The RIS was updated in 2020 through further targeted consultation with affected stakeholders.
The RIS estimates there will be no regulatory burden on business or the community, as existing regulatory frameworks broadly align with international obligations under the Convention. Ratification will provide a net benefit of over $5.9 million over 20 years. This direct economic benefit will be accompanied by a range of additional social and environmental qualitative benefits.
OBPR ID number: 19441