Climate 200 bankroller Simon Holmes a Court reveals his own emissions target

Climate 200’s teal independents are demanding carbon emission reductions of 60 per cent – significantly more than is sought by the millionaire funding their campaigns.

Climate 200-backed independents who would sway a minority government are demanding emissions cuts far more extreme than even their mega-rich green backer Simon Holmes a Court considers necessary.

In a telling interview with News Corp Australia, Mr Holmes a Court also acknowledged his mission to install teal candidates into once-safe conservative seats could result in Peter Dutton becoming Liberal leader, which he argued would make the party he once supported “unelectable”.

Laying bare just how severe the environmental targets of several high-profile teals are, Mr Holmes a Court said he believed a 2030 carbon emissions cut of 46-50 per cent was “about right”.

By comparison, candidates bankrolled by Climate 200 including Warringah MP Zali Steggall and Monique Ryan – who is trying to unseat Treasurer Josh Frydenberg in Kooyong – are calling for reductions of 60 per cent, which they claim won’t cause job losses.

In Goldstein, fellow teal Zoe Daniel has the same goal; the former ABC journalist is the bookies’ favourite to win the Melbourne seat.

Climate 200’s Simon Holmes a Court supports a carbon emissions cut of 46-50 per cent by 2030. Picture: Josie Hayden

Labor has vowed to cut emissions 43 per cent by 2030 compared to 2005 levels. The Coalition has a target of 26 to 28 per cent.

Founded by Mr Holmes a Court, whose father was Australia’s first billionaire, Climate 200 initially aimed to amass $3m to back five independents at this year’s election.

But the donation drive had been “wildly successful”, he said, raising more than $10m so far.

That figure has been boosted by wealthy families including the Milgroms and Fairfaxes.

Twenty-two independents are now being supported. None is running against a sitting Labor MP.

Still, he vowed that the movement’s goal was “not to change government”.

“It’s to help ensure that the majority of MPs … are committed to genuine progress on climate, integrity and women,” said Mr Holmes a Court, the number-one ranked climate and energy influencer on Twitter, ahead of Elon Musk.

He acknowledged that if several Climate 200-supported independents are elected, including in Kooyong, then a by-product “could well be” the Coalition ends up being led by Mr Dutton in opposition.

“That would be pretty grim and probably makes them unelectable, but it’s the consequence of (John) Howard, (Tony) Abbott and (Scott) Morrison’s mission to drive the moderates out of the party. The party has been left with a very shallow talent pool,” Mr Holmes a Court said.

Simon Holmes a Court says a rise in independents could set off a chain reaction that results in Peter Dutton becoming leader of the Coalition – and says that “would be pretty grim and probably makes them unelectable”. Picture: Jane Dempster/The Australian

Mr Frydenberg had “no discernible ideology”, he said, despite his history of actively supporting the Treasurer.

About 11,000 people have made a total of 18,000 donations to Climate 200. But more than $1.5m of that has come from just eight donations.

The largest single gift has been $500,000 from the Milgrom family, led by matriarch Naomi Milgrom, whose estimated $933m personal fortune comes from retail chains Sportsgirl, Sussan and Suzanne Grae.

Other big donors include the brains behind Chicago-based options trading firm Akuna Capital ($500,000) and former Fairfax Media director Nick Fairfax along with his wife Sandra ($100,000).

Mr Holmes a Court said his personal contribution was $200,000.

The independent candidate for Wentworth, Allegra Spender, campaigning at Bondi. Picture: Jeremy Piper

Zoe Daniel is taking on Liberal MP Tim Wilson in Goldstein. Picture: NCA NewsWire /Brendan Beckett

The three best-placed teal campaigns are:

■ “Clean-energy advocate” Allegra Spender in Wentworth in Sydney’s inner east, who is challenging Liberal Dave Sharma;

■ Paediatric neurologist Monique Ryan in Kooyong in inner-east Melbourne; and

■ Zoe Daniel in Goldstein, in Melbourne’s southeast, where the sitting MP is Liberal Tim Wilson.

Mr Holmes a Court said polling by Climate 200 just before the start of the election campaign had the independents leading in all three seats.

The independents bankrolled by Climate 200 are also polling strongly in North Sydney and the Sydney northern beaches seat of Mackellar, as well as Curtin in WA.

The TAB’s odds for a hung parliament are currently $2.35.

Mr Holmes a Court revealed that “in Australia I have more (invested) in resources than I do in clean-tech”.

Iron ore was the main resource investment, along with gold and a small amount of lithium.

Last year he took a stake of less than 1 per cent in Sydney solar business 5B. Former Liberal prime minister Malcolm Turnbull invested at the same time.

5B was valued at $50m in 2020 and has since raised tens of millions of dollars more from investors. It recently won a $14m grant from the federal government’s renewable energy agency, ARENA.