What are examples of Asset Retirement Obligations that would fall under PSASB's new standard PS 3280?

AROs represent the costs to retire an asset when it can no longer be used. A textbook example of an ARO is a nuclear reactor at the end of its useful life. As it can no longer be used, there are substantial costs to remove and dispose of the asset safely.

Some common public sector examples of AROs include landfill sites, asbestos, radiologically contaminated medical equipment (X Ray / MRI machines), removal of underground fuel storage tanks, gravel pits, wastewater or sewage treatment facilities, PCBs or other hazardous waste produced as a result of operating an asset, and end-of-lease restoration costs where a leased space needs to be restored it its original condition.