The majority voted in favour of an amendment introduced by Melbourne MP Adam Bandt (Greens), which means it will now be included in the bill.

Mr Bandt explained that:

Public money should not go to making the climate crisis worse, and public money should not be invested in coal, gas or the destruction of our native forests. That is what people across this country expect. What we have seen in the past is that when government bodies are established that allow the government to invest, previous governments have tried to use that money to support making the climate crisis worse. The Liberals even tried to use the Clean Energy Finance Corporation and the Renewable Energy Authority to finance coal and gas! So we know that governments need to be stopped from financing the climate crisis and making it worse.

Amendment text

(1) Clause 63, page 39 (after line 3), at the end of the clause, add:

Prohibited investments

(3) An investment for the purposes of the Corporation's investment functions must not relate to any of the following:

(a) an activity that involves the extraction of coal or gas;

(b) an activity that involves the construction of coal or gas infrastructure;

(c) a project or product that involves the logging of Australian native forests;

(d) an activity the carrying out of which is inconsistent with Australia's greenhouse gas emissions reduction targets.

(4) In this section:

Australia's greenhouse gas emission s reduction targets means:

(a) if:

(i) Australia's current nationally determined contribution was communicated in accordance with Article 4 of the Paris Agreement in June 2022; and

(ii) that nationally determined contribution has not been adjusted in accordance with paragraph 11 of Article 4 of the Paris Agreement;

the greenhouse gas emissions reduction targets set out in paragraphs 10(1)(a) and (b) of the Climate Change Act 2022; or

(b) in any other case—the greenhouse gas emissions reduction targets included in:

(i) Australia's current nationally determined contribution communicated in accordance with Article 4 of the Paris Agreement; or

(ii) if that nationally determined contribution has been adjusted in accordance with paragraph 11 of Article 4 of the Paris Agreement—that nationally determined contribution, as adjusted and in force from time to time.

Paris Agreement means the Paris Agreement, done at Paris on 12 December 2015, as amended and in force for Australia from time to time.

Note: The Agreement is in Australian Treaty Series 2016 No. 24 ([2016] ATS 24) and could in 2023 be viewed in the Australian Treaties Library on the AustLII website (

Votes Passed by a small majority

Nobody rebelled against their party.

Party Votes
Australian Greens (100% turnout) 4 Yes 0 No
Adam Bandt Melbourne Yes
Stephen Bates Brisbane Yes
Max Chandler-Mather Griffith Yes
Elizabeth Watson-Brown Ryan Yes
Australian Labor Party (95% turnout) 72 Yes 0 No
Anne Aly Cowan Yes
Michelle Ananda-Rajah Higgins Yes
Chris Bowen McMahon Yes
Tony Burke Watson Yes
Linda Burney Barton Yes
Josh Burns Macnamara Yes
Mark Butler Hindmarsh Yes
Alison Byrnes Cunningham Yes
Jim Chalmers Rankin Yes
Andrew Charlton Parramatta Yes
Lisa Chesters Bendigo Yes
Jason Clare Blaxland Yes
Sharon Claydon Newcastle Yes
Libby Coker Corangamite Yes
Julie Collins Franklin Yes
Pat Conroy Shortland Yes
Mark Dreyfus Isaacs Yes
Justine Elliot Richmond Yes
Cassandra Fernando Holt Yes
Mike Freelander Macarthur Yes
Carina Garland Chisholm Yes
Steve Georganas Adelaide Yes
Andrew Giles Scullin Yes
Patrick Gorman Perth Yes
Luke Gosling Solomon Yes
Julian Hill Bruce Yes
Ed Husic Chifley Yes
Stephen Jones Whitlam Yes
Ged Kearney Cooper Yes
Matt Keogh Burt Yes
Peter Khalil Wills Yes
Catherine King Ballarat Yes
Tania Lawrence Hasluck Yes
Jerome Laxale Bennelong Yes
Andrew Leigh Fenner Yes
Sam Lim Tangney Yes
Richard Marles Corio Yes
Zaneta Mascarenhas Swan Yes
Kristy McBain Eden-Monaro Yes
Emma McBride Dobell Yes
Louise Miller-Frost Boothby Yes
Brian Mitchell Lyons Yes
Rob Mitchell McEwen Yes
Daniel Mulino Fraser Yes
Peta Murphy Dunkley Yes
Shayne Neumann Blair Yes
Brendan O'Connor Gorton Yes
Clare O'Neil Hotham Yes
Alicia Payne Canberra Yes
Graham Perrett Moreton Yes
Fiona Phillips Gilmore Yes
Tanya Plibersek Sydney Yes
Sam Rae Hawke Yes
Gordon Reid Robertson Yes
Dan Repacholi Hunter Yes
Amanda Rishworth Kingston Yes
Tracey Roberts Pearce Yes
Michelle Rowland Greenway Yes
Marion Scrymgour Lingiari Yes
Bill Shorten Maribyrnong Yes
Sally Sitou Reid Yes
David Smith Bean Yes
Anne Stanley Werriwa Yes
Meryl Swanson Paterson Yes
Susan Templeman Macquarie Yes
Matt Thistlethwaite Kingsford Smith Yes
Kate Thwaites Jagajaga Yes
Maria Vamvakinou Calwell Yes
Tim Watts Gellibrand Yes
Anika Wells Lilley Yes
Josh Wilson Fremantle Yes
Tony Zappia Makin Yes
Anthony Albanese Grayndler Absent
Matt Burnell Spence Absent
Madeleine King Brand Absent
Joanne Ryan Lalor Absent
Rebekha Sharkie Mayo Centre Alliance Absent
Mark Coulton Parkes Deputy Speaker No
Kate Chaney Curtin Independent Yes
Zoe Daniel Goldstein Independent Yes
Helen Haines Indi Independent Yes
Monique Ryan Kooyong Independent Yes
Sophie Scamps Mackellar Independent Yes
Allegra Spender Wentworth Independent Yes
Zali Steggall Warringah Independent Yes
Andrew Wilkie Clark Independent Yes
Andrew Gee Calare Independent Absent
Dai Le Fowler Independent Absent
Kylea Tink North Sydney Independent Absent
Bob Katter Kennedy Katter's Australian Party No
Liberal National Party (100% turnout) 0 Yes 8 No
Angie Bell Moncrieff No
Colin Boyce Flynn No
Garth Hamilton Groom No
Henry Pike Bowman No
Phillip Thompson Herbert No
Andrew Wallace Fisher No
Andrew Willcox Dawson No
Terry Young Longman No
Liberal Party (94% turnout) 0 Yes 33 No
Karen Andrews McPherson No
Bridget Archer Bass No
Russell Broadbent Monash No
Scott Buchholz Wright No
David Coleman Banks No
Warren Entsch Leichhardt No
Paul Fletcher Bradfield No
Ian Goodenough Moore No
Andrew Hastie Canning No
Alex Hawke Mitchell No
Luke Howarth Petrie No
Julian Leeser Berowra No
Sussan Ley Farrer No
Nola Marino Forrest No
Melissa McIntosh Lindsay No
Zoe McKenzie Flinders No
Scott Morrison Cook No
Ted O'Brien Fairfax No
Tony Pasin Barker No
Gavin Pearce Braddon No
Melissa Price Durack No
Rowan Ramsey Grey No
Stuart Robert Fadden No
James Stevens Sturt No
Michael Sukkar Deakin No
Angus Taylor Hume No
Dan Tehan Wannon No
Bert Van Manen Forde No
Ross Vasta Bonner No
Aaron Violi Casey No
Jenny Ware Hughes No
Rick Wilson O'Connor No
Keith Wolahan Menzies No
Peter Dutton Dickson Absent
Jason Wood La Trobe Absent
National Party (92% turnout) 0 Yes 11 No
Sam Birrell Nicholls No
Darren Chester Gippsland No
Pat Conaghan Cowper No
David Gillespie Lyne No
Kevin Hogan Page No
Barnaby Joyce New England No
Michelle Landry Capricornia No
Michael McCormack Riverina No
Llew O'Brien Wide Bay No
Keith Pitt Hinkler No
Anne Webster Mallee No
David Littleproud Maranoa Absent
Milton Dick Oxley Speaker Absent
Totals (92% turnout) 84 Yes – 54 No