Rebekha Sharkie (Mayo, Centre Alliance) Share this | Hansard source

I second this motion. I very much support this disallowance. We are really in dangerous territory as a nation when we have ARENA, the Renewable Energy Agency, which has been successful despite attempts by government in recent years to cut funding to it, and then make ARENA invest in gas and coal projects. If ever there were an oxymoron, it is 'clean coal'. The reason why the big banks are not supporting new fossil fuel projects is, for some, that want to do the right thing morally, but moreover it doesn't make financial sense. As the member for Melbourne says, they will just have stranded assets. The risk is too great. These are industries that are in decline, and the government's way of fixing that is to say: 'Well, that's alright. We're going to make public money invest in oil, gas and coal.' This is not the right thing to do. This is not what the Australian community wants. This is actually some kind of bizarro world where we would charge ARENA, the Australian Renewable Energy Agency, with that task.

I urge all members of this House—particularly those who like to put in editorials, who say hand on heart how they're all for a clean and green future—to support this disallowance. You can't say one thing to the papers, go out there and help put turtles in the ocean, and have lots of photo opportunities, and then vote differently in this place. The Australian community have wised up to that. They know what is happening in here. There is a reason why big banks and superannuation companies are divesting. How people in this place who are very much of the free market ideology can support the government's position and not support this disallowance is nonsensical. So I urge all of those up in their rooms right now, listening to this speech, to have a look at this disallowance, have a look at what the government is intending to do by regulation and support this disallowance by the member for Melbourne.

See this speech in context