A variety of environmental financial assurance instruments
are in use across the globe. This paper reviews some of the more common forms
currently used in New Zealand, Canada, USA and Australia. In order to be
effective, the form of assurance instrument selected needs to be aligned with a
country's specific environmental objectives, geography and political climates
and also allow for a healthy investment climate. Industry and Government both
have a strong interest in ensuring financial assurance criteria meet these
objectives.

Recently Golder Associates have been involved in financial
assurance assessments for various mining and quarrying companies across the
South Island. Multiple stakeholders and
regulatory agencies can make the setting of effective and fair financial
assurance criteria a complex exercise for both regulatory agencies and industry.
The author relates experience
gained in assessing financial assurance under current New Zealand legislation
(RMA, 1991), effectively dealing with issues such as double bonding and
overviews potential approaches to dealing with transitional issues for historic
and existing operating mine sites.