28th Mar 2023, 4:41 PM – Senate National Reconstruction Fund Corporation Bill 2023 - Second Reading - Circular economy

The majority voted in favour of an amendment to the usual second reading motion, which is "That this bill be now read a second time." To read a bill for a second time is to agree with its main idea. This amendment does not make any changes to the bill itself but still has political significance because it represents the will of the Senate. It was introduced by Tasmanian Senator Peter Whish-Wilson (Greens).

Amendment text

At the end of the motion, add ", but the Senate:

(a) is of the opinion that:

(i) building a circular economy is a central element of delivering net-zero emissions,

(ii) a circular economy can bolster Australia's capabilities and reduce supply chain vulnerabilities, and

(iii) the benefits of a circular economy could add $210 billion in GDP by 2047-48, creating an additional 17,000 full-time equivalent jobs; and

(b) calls on the Government to:

(i) invest in projects that facilitate the establishment of a circular economy for renewable energy and other products,

(ii) incorporate circular economy principles into the Investment Mandate for the National Reconstruction Fund; and

(iii) seek that the National Reconstruction Fund Board give regard to outcomes and advice from the Circular Economy Taskforce".