the government and businesses, in order to help save the reef from adverse effects of climate change. “What the foundation needs to do is work with government to see if we can build a new model around sustainable fundraising of reef restoration and that’s what we’re mostly focused on,” Thodey told The Australian Financial Review in an interview, adding that the investment of big funds into sustainability, like green bonds, is the domain to look at, and to leverage that to protect “this great Australian asset”.
“Philanthropy is wonderful if you have it, but the truth is it’s not sustainable. It’s a year-to-year effort. Hopefully, we can put our mind to finding a new model,” he said.
Back in 2018, the foundation attracted national interest after the Turnbull government awarded a grant of $443 million for research and leverage for private funding to help save the Great Barrier Reef. With a significant portion of the grant now allocated to research partners, Thodey is looking to take the organisation “to a new level” in using money and corporate expertise to help save the reef.
“Australia needs to lead this action around how government and industry work together in the preservation of our environment. That’s what gets me really excited,” he said. “How do we effectively invest in this asset and build a sustainable model that will preserve and restore the reef.”
