Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Pocock for his question and his desire to support the government in starting to build things in Australia again. Clause 75 of the NRF bill requires the corporation to develop a suite of investment policies, including in relation to risk management. Consideration of climate risk represents best investment and governance practice, and the government expects the NRF will consider these issues as part of developing its risk-management policy.

In respect to your second question: protecting the environment is a priority for this government. We will be moving an amendment to clause 17, requiring the board to have regard to Australia's greenhouse gas emissions reduction targets and supporting decarbonisation when performing their functions. We are also moving a further amendment to clause 75 requiring the corporation to consider labour, environmental, social and governance matters in performance of its investment functions. We expect issues like this will be considered by the board.