The majority voted against amendments introduced by South Australian Senator Barbara Pocock (Greens), which means they failed.

What did these amendments do?

During her second reading speech, Senator Pocock explained that the amendments were introduced:

... to increase the spending cap from $200 million to $300 million a year and to require the Future Fund in its management of the Disaster Ready Fund to ensure that the fund is not invested in fossil fuels. It's a rich irony which cannot be lost on so many Australians that the Disaster Ready Fund is invested in the very same coal, gas and oil companies whose activities are causing the climate emergencies that the fund has been set up to mitigate.

Amendment text

(1) Schedule 1, page 7 (after line 28), after item 26, insert:

26A Section 4


fossil fuel financial asset means a financial asset that relates directly to:

(a) infrastructure that is intended to be used wholly or predominantly for extracting, processing (including refining), transporting or exporting coal, gas or oil; or

(b) a person that operates such infrastructure; or

(c) a related body corporate (within the meaning of the Corporations Act 2001) of a body corporate that operates such infrastructure.

(2) Schedule 1, item 105, page 20 (line 21), omit paragraph 34(1)(c), substitute:

(c) $300 million; or

(3) Schedule 1, page 23 (after line 4), after item 112, insert:

112A After section 36


36A Prohibition on investing in fossil fuel financial assets

(1) The Future Fund Board must ensure that no investments of the Disaster Ready Fund are fossil fuel financial assets.

(2) Subsection (1) does not apply in relation to a financial asset to which section 9A (about transitioning investments of the Emergency Response Fund) applies.

(3) However, if a financial asset to which section 9A applies is a fossil fuel financial asset, the Future Fund Board must realise the financial asset as soon as practicable after the commencement of this section.

(4) This section has effect despite any other provision of this Act.

Votes Not passed by a modest majority

Nobody rebelled against their party.

Party Votes
Australian Greens (100% turnout) 12 Yes 0 No
Penny Allman-Payne Queensland Yes
Dorinda Cox WA Yes
Mehreen Faruqi NSW Yes
Sarah Hanson-Young SA Yes
Nick McKim Tasmania Yes
Barbara Pocock SA Yes
Janet Rice Victoria Yes
David Shoebridge NSW Yes
Jordon Steele-John WA Yes
Lidia Thorpe Victoria Yes
Larissa Waters Queensland Yes
Peter Whish-Wilson Tasmania Yes
Australian Labor Party (76% turnout) 0 Yes 19 No
Catryna Bilyk Tasmania No
Carol Brown Tasmania No
Anthony Chisholm Queensland No
Raff Ciccone Victoria No
Patrick Dodson WA No
Don Farrell SA No
Katy Gallagher ACT No
Jenny McAllister NSW No
Malarndirri McCarthy NT No
Fatima Payman WA No
Helen Polley Tasmania 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
Linda White Victoria No
Tim Ayres NSW Absent
Nita Green Queensland Absent
Karen Grogan SA Absent
Deborah O'Neill NSW Absent
Jana Stewart Victoria Absent
Penny Wong SA Absent
Jacinta Nampijinpa Price NT Country Liberal Party Absent
Andrew McLachlan SA Deputy President No
David Pocock ACT Independent Yes
Jacqui Lambie Network (100% turnout) 0 Yes 2 No
Jacqui Lambie Tasmania No
Tammy Tyrrell Tasmania No
Liberal National Party (100% turnout) 0 Yes 2 No
Matthew Canavan Queensland No
James McGrath Queensland No
Liberal Party (21% turnout) 0 Yes 5 No
Alex Antic SA No
Richard Colbeck Tasmania No
Marise Payne NSW No
Paul Scarr Queensland No
Dean Smith WA No
Wendy Askew Tasmania Absent
Simon Birmingham SA Absent
Andrew Bragg NSW Absent
Slade Brockman WA Absent
Michaelia Cash WA Absent
Claire Chandler Tasmania Absent
Jonathon Duniam Tasmania Absent
David Fawcett SA Absent
Sarah Henderson Victoria Absent
Hollie Hughes NSW Absent
Jane Hume Victoria Absent
Kerrynne Liddle SA Absent
Jim Molan NSW Absent
Matt O'Sullivan WA Absent
James Paterson Victoria Absent
Gerard Rennick Queensland Absent
Linda Reynolds WA Absent
Anne Ruston SA Absent
David Van Victoria Absent
National Party (25% turnout) 0 Yes 1 No
Perin Davey NSW No
Ross Cadell NSW Absent
Susan McDonald Queensland Absent
Bridget McKenzie Victoria Absent
Pauline Hanson's One Nation Party (50% turnout) 0 Yes 1 No
Malcolm Roberts Queensland No
Pauline Hanson Queensland Absent
Sue Lines WA President No
Ralph Babet Victoria United Australia Party Absent
Totals (59% turnout) 13 Yes – 32 No