Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Firstly, the reason the government has made this significant investment is a demonstration of our commitment to the future health of the Great Barrier Reef, a very important national asset. When the former Minister for the Environment, Mr Tony Burke, provided funding to the Great Barrier Reef Foundation, he said:

The foundation protects and preserves the Reef by coordinating strategic research in such areas as reef resilience and climate change.

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Funding available through Caring for our Country and the Great Barrier Reef Foundation will ensure that the Reef's unique values are protected.

The Great Barrier Reef Foundation was established in 2000. The foundation has a record delivering on-ground benefits to the reef, working with a diverse range of reef stakeholders. The foundation has experience managing a diverse range of reef projects—projects which include saving endangered green turtles, restoring damaged reef ecosystems and investments in science to help corals adapt to a changing climate. The foundation has robust corporate and financial governance systems and processes. They have demonstrated their ability to deliver government funding appropriately—including, of course, funding provided by the previous Labor government. The foundation attracts substantial funding from the private sector. The government is seeking to build on and to leverage our contribution because the reef deserves that level of support.

The government approached the foundation in April 2018 to ascertain their interest in establishing the partnership. Since the announcement of the grant, the Department of the Environment and Energy has also at numerous meetings engaged with the foundation in person and by phone. This new funding to the foundation will go towards meeting our targets in the Reef 2050 plan as advised by our existing reef advisory bodies. Of course, this now brings— (Time expired)