With no tender process, no rigorous selection criteria, and no transparent due-diligence, the Turnbull (now Morrison) Government decided to give over $440 million away with the 'noble' intentions of 'saving the reef'.
There's been much criticism of the government's decision to dole this grant out to The Great Barrier Reef Foundation, with much conjecture around it's ambiguous ties to fossil fuel companies.
Today we have released a report, in conjunction with The Australia Institute’s Climate & Energy program, which shows the foundation’s grant is split between six banks. A majority of the grant is being invested with Australia’s Big Four Banks (Commonwealth, NAB, ANZ and Westpac), who have loaned $70 billion to fossil fuel projects since 2008.
Sign our petition to Anna Marsden, managing director of the Great Barrier Reef Foundation.