National Reconstruction Fund Corporation Bill 2023

The majority voted against amendments to government amendment (2) on sheet UC140, introduced by ACT Senator David Pocock (Independent).

What did this amendment do?

Senator Pocock explained that:

This amendment seeks to ensure that in performing its functions the independent board of the National Reconstruction Fund Corporation must have regard to Australia's international obligations and commitments. This amendment simply seeks to make explicit that the board will consider our international commitments under the Convention on Biological Diversity and the Kunming-Montreal Global Biodiversity Framework and any subsequent global biodiversity frameworks in which Australia is a party.

Shamefully, biodiversity loss is something that Australia has been grappling with for decades. We go to conventions, we sign up to non-binding agreements, then we come back home and we don't take the steps necessary to actually look after our incredible biodiversity. As a megadiverse country, this is something that we should be putting in every new body that we set up. There should be a regard to Australia's biodiversity and the impacts that any activities will have. We've got a shameful record. We have a government that is committed to no new extinctions. I believe it's a commitment that is welcomed by Australians, but that's going to take real work from all of us to actually deliver on that.

Amendment text

(1) Amendment (2), after paragraph 17(3A)(c), insert:

(ca) Australia's international obligations and commitments under the following:

(i) the Convention on Biological Diversity, done at Rio de Janeiro on 5 June 1992, as in force for Australia from time to time;

(ii) the Kunming-Montreal Global Biodiversity Framework, adopted by the Conference of the Parties to that Convention at Montreal on 19 December 2022, as amended from time to time;

(iii) any subsequent global biodiversity framework to which Australia is a party, as amended from time to time; and

(2) Amendment (2), at the end of subclause 17(3A), add:

Note 1: The Convention on Biological Diversity is in Australian Treaty Series 1993 No. 32 ([1993] ATS 32) and could in 2023 be viewed in the Australian Treaties Library on the AustLII website (https://www.austlii.edu.au).

Note 2: The Kunming-Montreal Global Biodiversity Frameworkcould in 2023 be viewed on the website of the Convention on Biological Diversity (https://www.cbd.int).

Government amendment (2)

(2) Clause 17, page 15 (after line 16), after subclause (3), insert:

(3A) In performing its functions, the Board must have regard to:

(a) the desirability of transforming Australia’s industry and economy by:

(i) growing or improving Australia’s industrial capability; or

(ii) improving Australian industry’s ability to pursue value-adding opportunities; or

(iii) supporting a long-term improvement in Australia’s economic diversity; and

(b) the desirability of attracting private sector finance or investments into the priority areas of the Australian economy; and

(c) Australia’s greenhouse gas emissions reduction targets and the desirability of supporting decarbonisation; and

(d) the desirability of creating secure jobs and a skilled and adaptable workforce ; and

(e) the desirability of enhancing Australia’s resilience against supply chain vulnerabilities; and

(f) the desirability of encouraging the commercialisation of Australian innovation and technology.