FORMER UN Secretary-General Ban Ki-Moon will keynote the virtual climate summit, Better Futures Forum on August 17-19, through which a group representing more than seven million Australians and more than $218.8 billion in economic activity will call on the Australian Government to commit to credible climate targets.

This summit will increade pressure on the Federal Government and Prime Minister Scott Morrison as global leaders prepare to gather in Glasgow in November for the UN Climate Conference, COP26.

Better Futures Australia (BFA) is a network of hundreds of climate champions, ambassadors and partners from every sector of society and the economy – finance, business, resources, agriculture, health, faith communities, local and state governments, First Nations people, unions, social services, the community sector and more. Among the hundreds of supporting organisations, over 70 have formally signed on to the Better Futures Australia Declaration, making them part of the global Alliances for Climate Action.

According to Better Futures Australia, these leaders are demonstrating scalable climate solutions and success stories as they collectively urge the Federal Government to set emissions targets in line with Australia's Paris Agreement obligations to limit warming to less than 1.5 degrees celsius. 

"Meeting these obligations means Australia has less than 10 years to halve its emissions if we are to have a chance of reaching zero emissions before 2050," a BFA spokesperson said.

BFA and BFF program manager Lisa Cliff said, “Led by former Secretary-General of the United Nations, Ban Ki-Moon, US Deputy Special Presidential Envoy on Climate, Jonathan Pershing, and featuring former Irish President and UN Climate Envoy Mary Robinson, BFF will provide a platform for leaders to showcase their plans and achievements in reducing greenhouse gas emissions, and publicly launch their collective commitment to ambitious national climate action.” 

Forum keynote speaker Ban Ki-Moon said, “I am looking forward to speaking at the Better Futures Forum, where diverse Australians will showcase climate solutions already underway in every sector of the economy and society. It is timely to explore the opportunities that the inevitable transition to a zero-emissions world presents for Australia, as global leaders prepare to meet at November's critical UN Climate Summit where emissions reduction targets will be set.”

Mary Robinson, former Irish President, UN Climate Envoy and UN High Commissioner for Human Rights said, "Climate justice is the recognition that without urgent action, today’s leaders risk squandering the futures of our young people and those yet to be born. Climate change is an intergenerational injustice felt the most by the people who have least contributed to rising emissions. Some small island states like those in the Pacific will literally disappear unless the richer industrialised countries take action to keep temperature rises to 1.5 degrees. 

“It’s not enough for Australia’s Prime Minister to repackage a plan that was already inadequate six years ago in Paris. The good news is there is still time for radical improvement if Australia wants to keep pace with its major allies and trading partners.”

WWF’s Global Climate and Energy lead, and former Environment Minister of Peru, Manuel Pulgar-Vidal said, "Extreme weather events like wildfires, drought, heatwaves and floods, which are reported almost daily in the news these days, are a stark reminder of what is at stake if we don’t tackle the climate crisis immediately. Everyone - governments, business, cities, and citizens - must do their part to sharply reduce greenhouse gas emissions. Better Futures Australia has risen to this challenge by mobilizing companies, cities, regions, Indigenous federations, labour unions, healthcare and religious organizations to drive the net-zero emissions transition together. I applaud the launch of BFA, and look forward to its contribution as part of the global Alliances for Climate Action." 

Forum keynote NSW Energy and Environment Minister Matt Kean said, “Moving to net zero emissions will deliver a better future for everyone in New South Wales. The NSW government is committed to achieving net zero emissions by 2050 and we have a plan to get there, so we can secure the economic and employment benefits for our citizens and leave a more sustainable and prosperous State for future generations.”

Forum speaker Debby Blakey, CEO of HESTA superfund with $63 billion under management, and BFA champion said, “Climate change represents a clear financial risk and will directly impact our members and their communities. Leading global investors like HESTA are seeking to drive down the carbon in their portfolios and support the transition to a low carbon future. Investors have an important role to play, with global capital seeking to invest in transition opportunities. The time to act is now to ensure a just and timely transition to a low carbon global economy.”

Forum speaker Francis Wedin,fFounder and CEO of the world’s first and only zero carbon lithium resources company, Vulcan Energy, and BFA Signatory and Ambassador said,  “I think Australia has a tremendous opportunity to change. There’s been a lot of talk about the fact that Australia could be a renewable energy super power. That is true. We need to take this opportunity, and the opportunity is now."

Forum speaker Cathryn Eatock, co-chair, Indigenous People’s Organisation, a coalition of 285 First Nations organisations, and BFA signatory and ambassador, said, “Aboriginal culture is based on our obligations as custodians of country and our responsibility to our children and those yet to come. There are countless untapped opportunities to mitigate climate change. Aboriginal and Torres Strait Islander peoples have lived sustainably and recognise that we are all interconnected with and dependent on our environment.  The Australian Government needs to work with Aboriginal and Torres Strait Islander Peoples and step up to its global obligations to provide real leadership before it’s too late.”

Forum speaker Bishop Phillip Huggins, president of the National Council of Churches in Australia and BFA ambassador said, “Inspired, visionary leadership is needed at UNCOP26. It is a key moment in humankind’s history and must not fail. I pray there is global agreement so we sustain our beautiful planet of God’s creation. I pray we can convince our federal parliamentarians that climate ambition is a matter of love for all God’s creation and that such a noble ambition will also assure them of  political success.”

Forum speaker Jess Scully, Deputy Lord Mayor, City of Sydney, a BFA signatory said, “The world is waking up. We’re seeing more dramatic, accelerated and focussed climate action from all around the world, but we are not yet seeing that in Australia. And if we all work together and show that climate action isn't just driven by environmentalists but by business, by local government, by citizens, then we have a greater chance of putting pressure on those leaders who are not stepping up and leading."

Kim Loo, Council of the AMA (NSW) and BFA ambassador, said, “The environmental determinants of health are clean air and water, healthy soils, a safe climate and a healthy ecosystem. Climate change impacts you from the point of conception, ... to your home, to education, to your work, to how you die, with the impacts felt most by the vulnerable. We need credible emissions targets and policy that actively supports the transition to a just, sustainable, clean-energy economy and society. The key is leaving no-one behind.”

Keynote speakers at the Better Futures Forum include: 

• Ban Ki-Moon, former Secretary-General of the United Nations
• Jonathan Pershing, US Deputy Special Presidential Envoy on Climate 
• Matt Kean, NSW Minister for Energy and Environment
• Chris Bowen, Shadow Federal Environment Minister
• Meaghan Scanlon, QLD Minister for Environment and the Great Barrier Reef
• Alok Sharma, President, COP26, the UN Climate Summit, Glasgow, November
• Sandy Verschoor, Lord Mayor of Adelaide. 

The keynotes will be joined by a diverse lineup of decision-makers and influencers including:

• Dr Omar Korshid, national president, Australian Medical Association
• Rebecca Mikula-Wright, CEO, Investor Group on Climate Change ($2 trillion in assets) 
• John Hewson, former Liberal opposition leader
• Debby Blakey, CEO of HESTA, ($63 billion under management)
• Innes Willox, CEO of Australian Industry Group
• Dr Francis Wedin, CEO, Vulcan Energy, world’s first and only Zero Carbon Lithium™ miner ($1billion market cap after 18 mths) 
• Bishop Philip Huggins, President, National Council of Churches in Australia
• Cassandra Goldie, CEO of ACOSS 
• Jess Scully, Deputy Lord Mayor of Sydney; View local government leaders video here.
• Cathy Eatock, co-chair, Indigenous Peoples Organisation (peak body for 285 ATSI organisations)
• David Barnden, Equity Generation Lawyers (won landmark case by teenage plaintiffs establishing Federal Government duty of care to next generation on climate)
• Dr Anika Molesworth, scientist, farmer, deputy chair of Farmers for Climate Action.
• Susan Aitkin, Mayor, City of Glasgow (host of COP26)

www.betterfuturesforum.org.au

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UNIVERSITIES must bring more corporations and venture capital investors onto campus and reduce their reliance on governments and overseas students if they are to have more resilient revenues.

Stoic Venture Capital Partner Geoff Waring said there was an over-reliance on government grants and overseas students’ fees to fund Australian universities’ research activities.

Universities should trade their vast intellectual property for equity in companies commercialising their research and pave stronger links with industry who can find uses for their research, he said.

“Government and philanthropic grants fund basic research and academic publications but venture capital finances the next step of forming a company to prove the concept in the field,” Dr Waring said.

“More resilient universities work with seed venture capital to finance start-ups in sectors such as health sciences, renewables or agritech where Australia has an international competitive advantage. The pandemic has demonstrated how important Australia’s focus on home-grown medical and biotechnology solutions is.”

Once their valuable intellectual property is secured and matched to an unmet need, universities can let specialist venture capital managers take it to the next level.

“Building stronger connections with seed venture capital investors and industry through partnerships like the Cooperative Research Centres could better align research priorities to solving the unmet needs in our society,” Dr Waring said.

“This collaboration with industry helps university research translate into new start-ups that are developing critical new drugs, devices, vaccines and other important innovations.”

Dr Waring said Stoic Venture Capital was one of the few venture capital funds in Australia that focused on start-ups coming out of university research.

“Stoic Venture Capital is committed to financing translational research. We want to encourage medical and other applied science or engineering researchers to go beyond publishing their research.”

About Stoic Venture Capital

Stoic Venture Capital provides financing for early-stage companies, particularly those arising from university research. Stoic is unconditionally registered as an Early Stage Venture Capital Limited Partnership (ESVCLP). It takes a collaborative approach to investing in the highest potential companies. www.stoicvc.com.au

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NEW YORK — The Open Society Foundations has announced the immediate creation of a $10 million Afghanistan emergency fund to support Afghans in grave danger — including champions of human rights, women’s rights, and journalists — by expanding immediate protection opportunities.

The Afghanistan Emergency Humanitarian Fund will help support sponsorship for humanitarian parole programs in the US that provide a pathway to temporary refuge for those in harm’s way.

It will bolster international relief organisations in their efforts to support Afghan citizens fleeing the Taliban advance. And the fund will aid other efforts to deliver humanitarian relief to internally displaced Afghans and those fleeing to other countries taking them in. 

Open Society has invited other donors to join these efforts to address this humanitarian emergency.

“The Open Society Foundations have long worked in Afghanistan to promote human rights, culture, and freedom of expression,” Open Society Foundations president Mark Malloch-Brown said.

“We remain deeply committed to Afghans and their efforts to help the country advance toward a more open society. We call on funders to join us in our response to this urgent humanitarian crisis. There is truly not a moment to waste.”

www.opensocietyfoundations.org

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ROD BARTON, the Victorian State Member for the Eastern Metropolitan Region, today claimed that the $3.3 billion budget blowout to Transurban's West Gate tunnel project was further proof of the consequences of privatisation.

He said that as the budget blowout reaches the headlines, Transurban was "vying for sympathy and seeking to share the burden with Victorian taxpayers". 

"We will not forget that this project is already being cross-subsidised through a 10-year extension to tolls on CityLink until 2045 intended to fund the West Gate Tunnel," Mr Barton said.

"Now, Transurban expects Victorian taxpayers to further subsidize its shareholder returns. Transurban put the original proposal to government, they nominated the price, chose the builder and now they must get on with it and deliver on the contractual agreement. 

"Yes, Transurban 'discovered' 3 million tonnes of contaminated soil. There are challenges, but this is not their first rodeo," he said.

"This is a fitting example of why major infrastructure projects need to be government owned.

"These large corporations are in it for the bottom line. It is glaringly obvious that they will use the power they wield across other road infrastructure to hold Victorian taxpayers to ransom," Mr Barton said. 

"We have seen this with the airport rail project where a private consortium including Metro Trains Australia, Melbourne Airport, Southern Cross Station, and superannuation fund IFM Investors put forward a proposal to co-invest. It is clear these players intend to do more than just fund the project. 

"The last thing we need is one consortium controlling airport rail prices, the rate of airport carparks and Transurban controlling the cost of Citylink tolls on the way to the airport. This is a recipe for disaster for Victorian taxpayers," Mr Barton alleged. 

"Transurban has done us no favours. When we asked them to reduce the tolls on family utes unfairly being charged the rate of light commercial vehicles, they said no. When we asked them to apply the same conditions as they do in NSW and Queensland, they said no. When we asked them to reduce toll rates for taxi drivers during the pandemic, they showed no compassion," he alleged.

"Time and again, we build up these big corporates, creating dependencies that allow them to hold Victorians over a barrel. Transurban, it is time to do your job."

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THE Financial Services Council (FSC) is initiating a process to consult with the superannuation and life insurance sectors, consumer advocates and other stakeholders with the aim of removing exclusions based on occupational classification within default group life insurance policies in MySuper.

The Federal Government’s ‘Your Future, Your Super’ reforms introduced an important consumer protection to ‘staple’ superannuation members to their fund, so that they take their account with them from job to job.

Stapling was a recommendation of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the Productivity Commission’s report into the efficiency and competitiveness of the superannuation system. The FSC strongly supported the implementation of stapling as it would prevent the creation of duplicate accounts that cause the erosion of superannuation savings.

In a small number of instances, however, superannuation members can be stapled to a MySuper fund that has default group life insurance that contains exclusions based on occupational classification. In a small number of instances when an employee moves between occupational classifications, at time of claim they may find themselves unable to claim against their default insurance coverage in the MySuper product.

This concern was raised by stakeholders during parliamentary debate and the FSC and life insurance industry agreed that it was in the best interests of consumers to design a solution, now that stapling is legislated to take effect from November 1, 2021.

As part of this process the FSC is seeking feedback on the options outlined in the consultation paper to implement this solution. The FSC said it would also consult with the Australian Competition and Consumer Commission (ACCC), Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).

The FSC today issued a policy proposal that the life insurance and superannuation industries could implement to address this issue. Stakeholders are being encouraged to provide feedback by Friday, September 3, through This email address is being protected from spambots. You need JavaScript enabled to view it..

The policy proposed is at: https://fsc.org.au/resources/2242-fsc-occupational-exclusions-consultation-paper/file

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AN INQUIRY to investigate and analyse the current use of credit cards and digital wallets to fund online gambling will be held in Canberra on Friday August 13, 2021.

The Parliamentary Joint Committee on Corporations and Financial Services will examine current online gambling behaviours of Australians and whether the use of credit cards and digital wallets is emerging as an area that needs additional scrutiny and possible regulatory or other forms of intervention.

Committee Chair, Andrew Wallace MP, welcomed the announcement of this Inquiry as a means to enable discussion on the current trends in online gambling and whether we are seeing an increase in Australians relying on credit to fund their gambling activity.

“It is important that this Inquiry firstly, has some insight into the prevalence of online gambling in Australia and what emerging behaviours we are seeing in our communities, particularly as many parts of the country are suffering from repeated lockdowns during the COVID pandemic," Mr Wallace said. "We can then begin to analyse the true extent of the issues and explore options for how industry, financial institutions and government, can implement changes to protect Australians from gambling with borrowed money.

“I am keen to hear from the banking sector, who will be represented by the Australian Banking Association (ABA) on the measures they have introduced to empower those Australians concerned at their personal gambling behaviours, to set up limits and website blocks when they feel their gambling is getting out of control,” Mr Wallace said.

This Inquiry will also consider the efficacy and appetite for a mandatory code in the online gambling industry and/or whether there is support for regulatory intervention, possibly via amendments to the Interactive Gambling Act 2001.

“I have made my personal views on gambling with credit cards known many times in my five years as a Member of Parliament. I have consistently stated that if you can’t use a credit card to support gambling in ‘real world’ casinos, clubs and at the track, I don’t believe we should allow it online.

“I am not advocating for a blanket ban on gambling.  If people want to lose their own money, provided they can feed their families and pay their bills, that is a matter for them. 

"What I believe should concern all Australians is when people borrow to fund their gambling habit, exacerbating the social harms that are perpetrated on not just them, but their innocent families as well.  Ultimately, the use of credit to gamble online has cost consequences on families, society, charities and governments who often have to pick up the tab when the 'house' ultimately wins.

“It’s important that the committee closely examines the harms caused by the use of credit cards and digital wallets for online gambling, which remains the only forum legally open to Australians.  It also important the committee makes appropriate recommendations to government as to what actions it should take to remediate those harms.

"The committee would have preferred to include the Big Four Banks, who continue to make considerable profits from credit card interest, in the evidence gathering for this inquiry. However, disappointingly, each of the Big Four Banks have declined to appear before the committee, despite repeated requests, citing competition constraint concerns.” Mr Wallace said.

THE Trade and Investment Growth Committee is holding a fourth public hearing this Friday for its inquiry into the prudential regulation of investment in Australia’s export industries.

In previous hearings, the committee has heard from representatives of export industries, financial institutions and shareholder groups. The Committee Chair, George Christensen MP, said the committee was looking forward to discussing that evidence with Australia’s financial regulators and government agencies.

"Prudential advice plays an important part in ensuring a healthy and well-functioning financial system. In light of this, the committee is looking forward to hearing about how the Government and regulatory agencies can further support and enable investment in Australia’s export industries, which are so vital to Australia’s economy, particularly in regional areas," Mr Christensen said.

Witnesses include the Australian Prudential Regulation Authority, Reserve Bank of Australia, Australian Securities and Investments Commission and Export Finance Australia.

Public hearing details

Date: Friday, 13 August 2021
Time: 9am – 1.20pm

Due to the public hearing being held by teleconference, public access will be available via the live broadcast at aph.gov.au/live.

Further information about the committee’s inquiry, including the hearing program, is available on the committee’s webpage.

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THE Australian Government should urgently implement a nationally-consistent best-practice plan for crew changes on international trading vessels following the preventable death of a seafarer during a high-risk transfer off Queensland’s Sunshine Coast this week, claims the International Transport Workers' Federation (ITF).

According tot he ITF, the man died after reportedly falling from a ladder being used to transfer seafarers between the Liberian-flagged bulk carrier Formosabulk Cement and a small vessel. As the incident occurred in Australian territorial waters, about five nautical miles off Mooloolaba, the vessel has been detained by the Australian Maritime Safety Authority to allow an investigation into the death to occur.

The ITF said the "lack of a nationally-consistent policy on international seafarer crew changes, along with restrictive state-based health orders, appeared to be the reason the high-risk offshore transfer was undertaken rather than occurring in port".

“Currently, Queensland is one of the only states in Australia facilitating crew changes on international vessels — which in many cases have seafarers that have been effectively trapped onboard for more than a year due to the COVID crisis,” ITF Australia coordinator Ian Bray said.

“The Formosabulk Cement was reportedly sailing to a NSW port, where a crew change could have safely occurred at the berth, but because of that state’s restrictive health orders it appears the vessel operator instead decided to replace the crew while sailing down the Queensland coast.

“After spending the last year at sea, this seafarer was looking forward to finally returning home to his family, but instead they have received the tragic news that he died during the crew change," Mr Bray said. “Our deepest sympathies are with his family, friends, and fellow crew members.

“It is essential that the Australian Government learn from this completely preventable death and take the urgent steps needed to address the crew change crisis that caused it.

“Australia is failing to live up to its legal obligations as a signatory to the Maritime Labour Convention, which outlines the nation’s responsibility to the health and welfare of the seafarers that keep the nation’s supply chains moving.

“State and Federal Government’s are complicit in any fatalities that occur because crew changes are being undertaken in an unsafe manner due to their prescribed health orders," Mr Bray said.

“The Australian Government needs to urgently address this issue, working with State and Territory Governments to put in place a nationally-consistent, best-practice crew change policy that allows the safe transfer of crew members while vessels are in port.

“The current situation is seeing risky off-shore transfers take place, while some vessels are diverting to Queensland ports because it is the only Australian state with a comprehensive approach to crew changes.”

About the ITF and ITF Inspectorate

The International Transport Workers' Federation is a democratic global union federation of 670 transport workers trade unions representing over 20 million workers in 140 countries. The ITF works to improve the lives of transport workers globally, encouraging and organising international solidarity among its network of affiliates. The ITF represents the interests of transport workers' unions in bodies that take decisions affecting jobs, employment conditions or safety in the transport industry.

The ITF Inspectorate is a network of 147 inspectors and contacts, based in ports all over the world, whose job is to inspect ships calling in their ports to ensure the seafarers have decent pay, working conditions and living conditions on board. They conduct routine inspections and also visit ships on request of the crew. If necessary they assist with actions to protect seafarers' rights as permitted by law.

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