The Senate Estimates Committee has discovered that the Turnbull government has handed over almost half a billion (borrowed) dollars ($444 million) to a six 'man' outfit called the Great Barrier Reef Foundation. When we say 'government', we are actually talking about a private deal with Malcolm Turbull, Josh Frydenberg and the chairman of the foundation, John Schubert. According to Senator Kristine Keneally, one of the Foundation's staff has advised that there was no official request for the money: no tender, no formal application for a grant. PM Turnbull just decided to give them the money.

Nobody knows much about the Great Barrier Reef Foundation, except that it is backed by Big Business and Big Banks. It has a budget of $8-10 million itself, but has now been bunged half a billion of our (borrowed) dollars.

The official Great Barrier Reef Authority wasn't asked if it could use half a billion dollars, which is now sitting on term deposit with one (not revealed) of the Big Banks. What the money will be used for is unknown. Whether or not it is necessary is unknown; probably not even by Mal and Josh.

The Committee is investigating, and has called Chairman Schubert to front them. But, there is no doubt that Malcolm Turnbull is out of control.

It's a government investment into research for the preservation of the Great Barrier Reef.
It'll be a dogs breakfast for university research departments and big business who also partner, but hopefully some good comes from it.

Hopefully also, it will highlight the massive damage done by government authorities on a local level, who lazily dump town sewage directly into the ocean along the east coast of Australia.

It'd be nice to think that, but don't hold your breath while the dog pack scratch each other's back!

You seem to imply Turnbull is untrustworthy. His record from the past proves that to be true. Especially on environmental issues.
He was caught out badly, (and got away with it), by donating ten million tax payers dollars in 2007 as environment minister, to the Au rain corporation scam. I'm sure you'd know about it.

Turnbull is one big reason Australia is a disaster, the other is Bill Shorten.

diver dan,
Only crooks & academics would disagree with you on that one.

diver dan,

You say: “It's a government investment into research for the preservation of the Great Barrier Reef.”

Perhaps the Senate Committee should call you before it, because they don’t know what it is about; nor do the staff of the organisation. They have never heard of it; they have never made an application for a grant, which is the only way a government can consider handing money over.

I imagine that they will be very interested in your information. How did you come by it? Did the only three people who knew what was going on - Turnbull, Freydenberg or Schubert - contact you?

"Oh what a tangled web some weave..."

According to articles in The Guardian - the organisation
had in part been selected because of its ability to
attract money from the private sector.

The Foundation's Chairman Panel, a Corporate Membership
Group is made up of Chief Executive and Directors of
Companies including - the Commonwealth Bank, BHP,
Qantas, to name just a few has 55 Members, each of whom
pay $20,000 a year for Membership. The organisation tried
to find members that shared similar values and commitment
to the reef and who were interested in building up the
resiliance of the Great Barrier Reef.

The Foundation is a reputable, non-profit Organisation,
who will work with environmental agencies and with the
Great Barrier Reef Marine Park Authority and the Australian
Institute of Marine Science and other agencies.

This decision happened in "the confines of the budget process"
and the Government decided to approach the Foundation.

Of course some people like Alan Jones, and political opponents
will try to milk this for all it's worth.

Par for the course.

IN school in the 1970's we learn't the reef was finished. We also learn't about global cooling and the world running out of food before 2000. Still the climate fraudsters and pseudo scientist are cashing in. I use to think it was just the dumb labour/greens feeding their mates and trying to impress the UN. Now with the likes of Turnbull the Liberals are as bad. The only answer for climate fraudsters is a Trump like figure who exposes fools like those involved in Paris for what they are.

‘The Guardian’ has stated the bleeding obvious and announced that there were no environment department officials at the handing over of half a billion dollars to a virtually unknown bunch of rent-seekers; but they did reveal that “small Great Barrier Reef charity” is an arm of “wealthy businessmen and philanthropists with links to the resources industry, and one was a senior public servant in the Bjelke-Petersen government”. NB: “resources industry” aka mining. How will that go down with the greenies. And how about the link to Joe Bejelke Peterson?

The paper also confirmed that no request was made by the ‘charity’, and the decision to hand over the money was a personal one by King Mal.

The founder of the ‘charity’ was Sir Sydney Schubert, a public servant in the Bejelke-Petersen regime (not a noted environmental regime) with the intent to “bring science and business together with a common purpose of protecting the Great Barrier Reef.” There’s something else for the greenies to ponder: big bizzo/mining puts up the money, which gets the better deal? The business interests or the reef? Oh, and one of the ‘charity’ big shots is into shale oil mining in Queensland. Will the greenies really be able to stretch compromise to the required degree in this one?

The Prime Minister's office palmed off questions about the deal (let’s not worry about the fact that it is our money the PM is flashing around, and is him who should do the explaining), and the rest of the article faded away in the usual bullshite about the ‘sincerity’ of the wonderful ‘charity’.

Josh Frydenburg has defended the funding decision and
said the Government has been "completely open."

"We provided a lot of this money to the Foundation because
they are able to leverage more funding off the private
sector," he said.

"We have a comprehensive set of arrangements with the
Foundation to ensure that the Queenland (and) Federal
Governments and The Great Barrier Reef Marine Park Authority
are involved in the investment decisions and consulted, and
indeed the Foundation is made up of the most eminent
scientists who understand the reef and the challenges it faces."

Below is the Coalition's policies of investment in our
Great Barrier Reef - which clarifies things even further:

http://www.liberal.org.au/coalitions-policy-invest-our-great-barrier-reef

This is about as wise a use for tax payer dollars as 50 Billion, yes billion with a "B", on building subs in that failed state South Australia.

I wonder who would have made such a stupid decision?

Ttbn

I think your getting yourself into another knot over this issue.

Wikipedia clean energy finance corp for history on this money!
That'll save me the trouble of educating you on the subject.

Beats me why the senate find this issue of interest.

I've stated my feelings on the issue. Abbott attempted to shut them down, but was overruled by the senate. Now it seems roles have reversed?!

Nothing will save the Reef, it's all over! Taxpayer funds should not be wasted on a futile effort.

Also as I've stated. Government bodies are quite happy to dump sewage up and down the east coast, directly into the ocean, destroying ecosystems at will.
It's a total hypocrisy to pretend an interest in the barrier reef....

This is shocking to me, is there anything we can do to prevent deals like this?

Too many people.

It's been ascertained that the Great Barrier Reef foundation spends 42.5 cents of every dollar it gets on administration. It has also now been required to APPLY FOR THE HALF BILLION IT HAS ALREADY BEEN GIVEN. The thing gets shonkier and shonkier.