The Federal Minister for Environment in conjunction with the Victorian Government has taken the next step in fulfilling the Federal Government’s election commitment to streamline environmental assessments by removing duplication across jurisdictions, with the release of a draft assessment bilateral agreement.

The new agreement will replace the assessment bilateral agreement currently in place, establishing a ‘One-Stop Shop’ single assessment and approval process aimed at increasing the number of eligible projects in Victoria.

The Federal Office of Best Practice Regulation has estimated this reform would save Australian businesses around $420 million each year and delivers on an election commitment secured last year from the Federal Coalition.

“This will reduce the regulatory burden on business by streamlining the environmental assessment and approvals process, while still maintaining high environmental standards,” said Federal Environment Minister Greg Hunt.

“It’s about removing duplication across jurisdictions and creating a more efficient process.”

The draft bilateral agreement can be located here and is open for public comment until Friday 3 October.

Master Builders has welcomed the move as a positive step that will help reduce green tape involved in environmental approvals for the construction industry.