Larissa Waters (Queensland, Australian Greens) Share this | Link to this | Hansard source

I move:

That the Senate—

(a) notes that:

(i) the Great Barrier Reef Marine Park Authority has repeatedly stated that the most serious threat to the reef is climate change,

(ii) the Abbot Point coal port expansion would facilitate the export of up to 180 million tonnes of coal per year,

(iii) nine global banks, including HSBC, Royal Bank of Scotland, Barclays, Societe Generale, Deutsche Bank, Goldman Sachs, Citi, JP Morgan Chase and Morgan Stanley have refused to finance the Abbot Point coal port expansion, and

(iv) the Australian Youth Climate Coalition's Dump Your Bank campaign is helping customers make sure their savings are not used to fund the destruction of the Great Barrier Reef and the climate; and

(b) congratulates former customers of the big four Australian banks who have divested because the big four Australian banks have not ruled out investing in the Abbot Point coal port expansion which would accelerate the destruction of the Great Barrier Reef.

I seek leave to make a short statement.

Stephen Parry (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Larissa Waters (Queensland, Australian Greens) Share this | Link to this | Hansard source

Thank you. Today this motion celebrates the power of ordinary Australians to secure a safe climate future. Both the federal and Queensland governments are in lock-step with Australian and Indian mining billionaires as they try to build one of the world's biggest coal ports right in the heart of the reef at Abbot Point. Already, nine international banks have ruled out financing the Abbot Point coal port and Australians are waiting for the big four Australian banks to start listening and join them. The Australian Youth Climate Coalition's 'Dump Your Bank' campaign helps ordinary customers break up with their bank by moving their money. They are making sure that savings are not used to fund the destruction of the Great Barrier Reef and our climate. Where our government has failed to act, ordinary Australians are stepping up and taking control of their own future. They are telling the big four banks it is not a good investment if it is wrecking the planet and in this age of climate change Australia cannot afford to open up the coal megamines in the Galilee Basin. I commend this motion to the Senate.

Mitch Fifield (Victoria, Liberal Party, Assistant Minister for Social Services) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Stephen Parry (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Mitch Fifield (Victoria, Liberal Party, Assistant Minister for Social Services) Share this | Link to this | Hansard source

The government opposes this motion. The Australian government is banning, through law, capital dredge disposal in the Great Barrier Reef Marine Park now and for ever. This is delivering on the commitment made in November to end this century-old practice. The ban demonstrates our commitment to the Great Barrier Reef and the significant progress we are making to reduce cumulative pressures on this precious ecosystem. Climate change is a challenge for all reefs around the world—that is why we are focusing on addressing water quality to make the reef more resilient; that is why we have a $2.55 billion domestic climate change policy, with the Emissions Reduction Fund, and it is why we are looking to a good international agreement in Paris at the end of this year.

Stephen Parry (President) Share this | Link to this | Hansard source

The question is that the motion moved by Senator Waters be agreed to.