Former NSW Treasurer Matt Kean grilled over conflict of interest claims from his new jobs
Former NSW Treasurer and energy minister Matt Kean has defended his two new roles after claims of a conflict of interest were raised at Senate estimates.
NSW
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Former NSW Treasurer Matt Kean has been forced to defend his new post-parliament jobs amid accusations his role as chair of the federal government’s Climate Change Authority presents a conflict of interest with his other gig at a major climate investment firm.
Senators turned the blowtorch on Mr Kean at Senate Estimates on Monday, with Senator Gerard Rennick taking aim at the two jobs the former MP has landed after leaving state politics earlier this year.
Mr Kean, representing the Climate Change Authority (CCA) at estimates on Monday, stood next to Prime Minister Anthony Albanese in June when he was unveiled as the chair of the federal government authority.
Less than two months later, he was named a director of regulatory affairs and strategic partnerships at Wollemi Capital – a climate investment firm helmed by former Macquarie Capital global head Tim Bishop.
Nationals Senator Perin Davey quizzed whether the former NSW Energy Minister’s role with the CCA included giving the government advice on its carbon credit policy – an area, she said, Wollemi Capital “potentially stands to make money from investing in”.
Mr Kean said the laws governing the Climate Change Authority took into account that the chair and other members of the CCA would be “industry participants”, saying his predecessor sat on a number of fossil fuel company boards, as well as multiple renewable energy boards and a carbon credit generating company board.
Mr Kean said “those arrangements were able to happen because there’s a strong legislated governance and probity framework in place” which he had adhered to, which included declaring his role at Wollemi Capital.
“Regardless of whether or not you disclose something, if you’re being paid by Wollemi Capital, surely that’s an inherent conflict of interest?” Senator Rennick said.
Mr Kean however claimed “a pecuniary interest doesn’t necessarily give rise to a conflict of interest”, with specific actions undertaken by Wollemi Capital considered on a case-by-case basis by the authority as to whether there was any crossover.
Senator Rennick also asked specifically if Mr Kean had met with lobbyists including influential former Liberal Minister Michael Photios, who founded advisory firms PremierState and PremierNational.
“I’m not sure I’ve spoken to Mr Photios since I’ve been appointed (to the CCA),” Mr Kean said.
Mr Kean and Senator Rennick also clashed over nuclear energy, with Mr Kean saying the nuclear industry would be “the biggest rent-seeking parasites” in the energy sector, after the Senator used the term to describe the renewable energy industry.
Mr Kean claimed “the nuclear industry (is) propping up the coal industry, who want to extend their business models (and) squeeze out the last bits of product profits at the expense of Australian consumers”, after the Senator criticised the renewable energy sector.
Mr Kean’s appointment to the CCA was criticised by former colleagues, with Liberal sources saying it was “unseemly” for Mr Kean to be standing next to a Labor Prime Minister so soon after leaving NSW Parliament.
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