The responsibility for this environmental audit will be given to an independent body, the Parliamentary Commissioner for the Environment.
"This will put the reform at arm's length from the Government of the day, to ensure that it's not a piece of salesmanship but a genuine auditor's view on how well New Zealand is doing," said Dr Smith.
He said statutory reporting would also provide a good guide for international commentators - something National is acutely aware of after Prime Minister John Key was roasted in a BBC interview on the health of New Zealand's freshwater.
National will announce a bigger commitment to clean up New Zealand's lakes and rivers and also a new oceans policy. At present New Zealand has no environmental protection beyond the 12-mile limit.
A new waste initiative will be launched, which will include a nationwide programme to recycle the country's 1.3 million CRT televisions..
National's environment policy will also create incentives for electric car users, such as an exemption from road user charges.
Meanwhile, Act has announced plans to overhaul the "Frankenstein legislation" it says the Resource Management Act (RMA) has become.
Leader Don Brash announced the policy yesterday in a speech to the Whangarei Rotary Club, pledging to reform the current system to cut out bureaucracy.
Dr Brash said the original intention of the law was to make it easier for people to develop and use their properties, but that it had instead given license for local government to impose huge costs.
National last week announced its RMA policy, which included introducing a six-month limit on processing consents for medium-sized regional projects, such as retail developments, new subdivisions, infrastructure and industrial developments.
Dr Brash criticised the policy, saying it amounted to "restraining RMA Frankenstein with the filly ribbons of an under-cooked and oversold policy reform".
- Additional reporting: Amelia Romanos
National Environment Policy
- New oceans policy to improve protection of waters more than 12 miles offshore
- Incentives for electric car users
- New waste initiative, including nationwide programme to recycle old TVs
- New Environment Reporting Act to transform environmental monitoring
- Funding for freshwater clean-ups