Josh Frydenberg (Kooyong, Liberal Party, Minister for the Environment and Energy) Share this | Hansard source

subject to the successful negotiation of a partnership agreement and final phase of due diligence. Over the next two weeks, the department worked with the foundation to develop the fundamental principles of the partnership, which included governance, decision-making, risk mapping, reporting, financial management and other things. I formally wrote on 22 April to the foundation chair outlining these collaboration principles, making it clear that any Australian government funds were dependent on negotiating and executing a new grant agreement. The foundation board agreed to these principles in a letter back to me on 26 April.

On 29 April, the government announced our funding commitment and it was included in the budget on 8 May. On 24 May, consistent with the government's grant guidelines, I approved the partnership guidelines, outlining the necessary requirements to be included in the foundation's application, which were published on my website. On 29 May, the foundation formalised their proposal.

On 20 June, under section 71 of the Public Governance, Performance and Accountability Act, I approved the grant to the foundation based on a recommendation from my department and the second state of due diligence, which also included work by the Australian Government Solicitor. My department concluded that this grant would meet the government's policy objective to protect and manage the Great Barrier Reef, represent value for money and is consistent with the provisions of the governance and accountability act.

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