The majority voted against amendments introduced by Victorian Senator Janet Rice (Greens), which means it failed.

Senator Rice explained that:

These amendments are a very significant way of doing something about [climate change]—of actually making sure that the drought fund that is going to be repairing the impacts of climate change is not, at the same time, investing in the very things that are causing it. These amendments on sheet 8704 would mean that the drought fund would not invest in coal and gas and oil. Furthermore, that would then be included in the investment mandate for this fund, and furthermore these amendments say that this fund should again be a disallowable instrument, to make sure that the investment mandate is as it should be—that it is taking the reality of our climate catastrophe into account.

Motion text

(1) Clause 5, page 8 (after line 25), after the definition of person, insert:

prohibited financial asset: a financial asset is a prohibited financial asset if the financial asset includes an interest in a body corporate that produces fossil fuels.

(2) Clause 39, page 41 (line 23), at the end of subclause (1), add "that are not prohibited financial assets".

(3) Clause 41, page 43 (line 30) to page 44 (line 6), omit subclause (7), substitute:

(7) A direction under subsection (1) is a legislative instrument.

(8) Despite regulations made for the purposes of paragraphs 44(2) (b) and 54(2) (b) of the Legislation Act 2003, section 42 (disallowance) and Part 4 of Chapter 3 (sunsetting) of that Act apply to a direction under subsection (1).

(4) Heading to clause 54, page 50 (line 25), at the end of the heading, add "etc.".

(5) Clause 54, page 50 (line 31), at the end of subclause (1), add:

; or (c) an asset held by the Board as an investment of the Future Drought Fund is, or has become, a prohibited financial asset.

Votes Not passed by a modest majority

Nobody rebelled against their party.

Party Votes
Cory Bernardi SA Australian Conservatives Absent
Australian Greens (100% turnout) 9 Yes 0 No
Richard Di Natale Victoria Yes
Mehreen Faruqi NSW Yes
Sarah Hanson-Young SA Yes
Nick McKim Tasmania Yes
Janet Rice Victoria Yes
Rachel Siewert WA Yes
Jordon Steele-John WA Yes
Larissa Waters Queensland Yes
Peter Whish-Wilson Tasmania Yes
Australian Labor Party (68% turnout) 0 Yes 17 No
Tim Ayres NSW No
Catryna Bilyk Tasmania No
Kim Carr Victoria No
Raff Ciccone Victoria No
Alex Gallacher SA No
Katy Gallagher ACT No
Nita Green Queensland No
Kimberley Kitching Victoria No
Malarndirri McCarthy NT No
Deborah O'Neill NSW No
Louise Pratt WA No
Tony Sheldon NSW No
Marielle Smith SA No
Glenn Sterle WA No
Anne Urquhart Tasmania No
Jess Walsh Victoria No
Murray Watt Queensland No
Carol Brown Tasmania Absent
Anthony Chisholm Queensland Absent
Patrick Dodson WA Absent
Don Farrell SA Absent
Kristina Keneally NSW Absent
Jenny McAllister NSW Absent
Helen Polley Tasmania Absent
Penny Wong SA Absent
Centre Alliance (100% turnout) 0 Yes 2 No
Stirling Griff SA No
Rex Patrick SA No
Sam McMahon NT Country Liberal Party No
Sue Lines WA Deputy President No
Jacqui Lambie Tasmania Jacqui Lambie Network No
Liberal National Party (50% turnout) 0 Yes 1 No
James McGrath Queensland No
Matthew Canavan Queensland Absent
Liberal Party (68% turnout) 0 Yes 19 No
Alex Antic SA No
Wendy Askew Tasmania No
Andrew Bragg NSW No
Slade Brockman WA No
Claire Chandler Tasmania No
Mathias Cormann WA No
Jonathon Duniam Tasmania No
Concetta Fierravanti-Wells NSW No
Hollie Hughes NSW No
Jane Hume Victoria No
Matt O'Sullivan WA No
James Paterson Victoria No
Marise Payne NSW No
Gerard Rennick Queensland No
Anne Ruston SA No
Paul Scarr Queensland No
Dean Smith WA No
Amanda Stoker Queensland No
David Van Victoria No
Eric Abetz Tasmania Absent
Simon Birmingham SA Absent
Michaelia Cash WA Absent
Richard Colbeck Tasmania Absent
David Fawcett SA Absent
Mitch Fifield Victoria Absent
Linda Reynolds WA Absent
Zed Seselja ACT Absent
Arthur Sinodinos NSW Absent
National Party (67% turnout) 0 Yes 2 No
Perin Davey NSW No
Susan McDonald Queensland No
Bridget McKenzie Victoria Absent
Pauline Hanson's One Nation Party (50% turnout) 0 Yes 1 No
Pauline Hanson Queensland No
Malcolm Roberts Queensland Absent
Scott Ryan Victoria President Absent
Totals (71% turnout) 9 Yes – 45 No