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A group of wealthy Australians are looking to bankroll independent political candidates who want climate action - 5th November 2019
Wealthy climate change activist Simon Holmes a Court wants to assemble a $1 million war chest to bankroll independent candidates at the next election after funding disclosures showed the organisation he and rich-lister Mike Cannon-Brookes backed emerged as one of 2019’s biggest donors.
Mr Holmes a Court’s Climate 200 initiative donated about $450,000 to 12 independent and crossbench political candidates in the run up to the May 18 poll, helping independent Helen Haines prevail. Two incumbent MPs Climate 200 helped, Adam Bandt and Rebekha Sharkie, were re-elected.
Nevertheless, candidate donations returns released by Australian Electoral Commission on Monday revealed just how potent climate change had become as for political fundraising.
Independent Zali Steggall disclosed receiving a whopping $1.1 million in donations for her successful bid to unseat former prime minister Tony Abbott in the northern Sydney electorate of Warringah.
One of the key promises of Ms Steggall’s campaign was the need to act on climate change, drawing a sharp contrast to Mr Abbott who as PM dismantled Labor’s carbon pricing regime.
Businessman and environmental philanthropist Robert Purves donated $67,000 each to Ms Steggall’s campaign while his sister Sandra gave $37,000.
Given how well she was resourced, Climate 200 opted not to donate to Ms Steggall, instead spreading its money around other independent candidates in other seats.
But Climate 200 gave $145,000 to the former head of the Clean Energy Finance Corporation Oliver Yates for his campaign against Treasurer Josh Frydenberg in the seat Melbourne seat of Kooyong, out of $363,000 he disclosed receiving.
Kerryn Phelps received $47,500 from Climate 200 (out of $219,000 in total donations) for her failed bid to hold Wentworth in Sydney’s east while Dr Haines included $35,000 from the group in her list of $421,000 in donations.
All up, candidates disclosed receiving $354,500 in donations from Climate 200 but the real figure is higher because donations under $13,800 do not have to be publicly declared.
Mr Holmes a Court told The Australian Financial Review Climate 200 received $495,000 from donors and distributed about 90 per cent of this to candidates and used the rest for distributing a social media video on the candidates to supporters.
Mr Cannon-Brookes gave $50,000 and Mr Holmes a Court $25,000, while $195,000 came from the Climate Outcomes Foundation. All other donations were below the $13,800 threshold.
Mr Holmes a Court said he had been contacted by a handful of philanthropists in recent days looking to donate for the next election campaign.
He said doubling the amount of the money Climate 200 has to disperse was a “realistic” aim, with the group looking to support candidates who wanted action on climate change as well as advocate for an integrity commissioner.
“We will almost certainly go again in 2022,” he said.
“Politics is a long game, especially in Australia. [This year] was a modest attempt. I’m confident we will be able to get more bang for our bucks and get more bucks.”
Kilara Capital managing director Ben Krasnostein – a member of Melbourne’s Smorgan family – said he and family members donated a “five figure” sum to Climate 200 and he planned to do so again.
He said he believed climate change action would both preserve the environment for future generations as well as offered new opportunities for investors to make a return.
“I’m not red, blue or green,” Mr Krasnostein said, a reference to the colours associated with the major parties.
“There is not that much of an outlet for people who want to make a difference, who can write a decent-sized cheque and who don’t want to be partisan.”
This article originally appeared in the Australian Financial Review. Read the original article here.
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