Intergovernmental Agreement on a National Water Initiative. Country/Territory Australia Territorial subdivision New South Wales Document type Miscellaneous Date 2004 Source FAO, FAOLEX Subject Water Keyword Sustainable use Sustainable development Freshwater resources management Sub-national agreement Allocation/quota Water rights Water supply Groundwater Policy/planning Traditional rights/customary rights Water abstraction Environmental audit Environmental planning Geographical area Asia and the Pacific, Australia and New Zealand, Indian Ocean, Oceania, South Pacific Abstract This Agreement between Commonwealth and all states and territories, called the National Water Initiative, seeks to outline Australia’s national water reform. This shared commitment by all Australian governments provides a framework and principles for the sustainable management of Australia's water resources. It aims to increase the efficiency of Australia’s water use, provide investment confidence and greater certainty for the environment, and improve water security for rural and urban communities. Recognizing water as a part of the natural capital of Australia, this Agreement aims at regulating the use of water for its various purposes within a complete framework that will increase the productivity and efficiency of water use and ensure the health of rivers and groundwater resources. Under section 23, the complete implementation of the Agreement will result in a nationally-compatible, market, regulatory and planning based system of managing surface and groundwater resources for rural and urban use that optimises economic, social and environmental outcomes. Full text English Website www.coag.gov.au