Barbara Pocock (SA, Australian Greens) Share this | Hansard source

by leave—I move Greens amendments (1) to (3) on sheet 1703 together:

(1) Schedule 1, page 7 (after line 28), after item 26, insert:

26A Section 4

Insert:

fossil fuel financial asset means a financial asset that relates directly to:

(a) infrastructure that is intended to be used wholly or predominantly for extracting, processing (including refining), transporting or exporting coal, gas or oil; or

(b) a person that operates such infrastructure; or

(c) a related body corporate (within the meaning of the Corporations Act 2001) of a body corporate that operates such infrastructure.

(2) Schedule 1, item 105, page 20 (line 21), omit paragraph 34(1)(c), substitute:

(c) $300 million; or

(3) Schedule 1, page 23 (after line 4), after item 112, insert:

112A After section 36

Insert:

36A Prohibition on investing in fossil fuel financial assets

(1) The Future Fund Board must ensure that no investments of the Disaster Ready Fund are fossil fuel financial assets.

(2) Subsection (1) does not apply in relation to a financial asset to which section 9A (about transitioning investments of the Emergency Response Fund) applies.

(3) However, if a financial asset to which section 9A applies is a fossil fuel financial asset, the Future Fund Board must realise the financial asset as soon as practicable after the commencement of this section.

(4) This section has effect despite any other provision of this Act.

I foreshadowed the amendments in my speech, so I don't need to speak to them.