Climate 200 not ‘cashed up’: Holmes a Court

The son of Australia’s first billionaire says he is far from ‘some renewable energy mogul’ and that Climate 200 is not ‘cashed up’.

The millionaire backer of the teals political movement, Simon Holmes a Court, addresses the National Press Club in Canberra. Martin Ollman/NCA NewsWire

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Climate 200 founder Simon Holmes a Court has claimed he is “not an active investor” in the renewables industry and compared the money he has directed into the sector as comparative to what the average Australian puts into their super account.

While admitting he invested in projects that received renewable energy certificates, which can be bought and sold through the open market, the multi-millionaire said only a tiny portion of his overall wealth went into the renewables industry.

“It is funny how (I’m) … painted … as some renewable energy mogul. I hate to disappoint you, but less than 2 per cent of my ­investments are in renewables which is about the same as most Australians through their superannuation,” he told National Press Club on Wednesday.

“I am not a big renewables investor. Those projects receive renewable energy certificates but I am not an active investor in the space.

“Where this renewable thing comes from is I was involved in a small community-owned wind farm in Daylesford in Victoria. My investment in the wind industry is a share of a co-operative that owns two wind turbines that were built 15 years ago. That is it.”

But Mr Holmes a Court appeared to leave the door open to investing in green hydrogen projects down the track, declaring the resource would “play a significant role in decarbonisation of the global economy”.

“Hydrogen is the way that we decarbonise here, and Australia has the opportunity of generating green hydrogen at a lower cost at scale than pretty much any country,” he said.

Mr Holmes a Court – who ruled out creating an official political party to dodge strict new election funding laws – defended the move by the Climate 200 candidate for Wannon, Alex Dyson, to distance himself from the construction of a local offshore wind zone, with the millionaire criticising companies that sought to “march into a community” and propose such projects with no support.

“When I was involved in the industry … I noticed something where a lot of wind developers marched into a community with the attitude of ‘we’re here to save the world, move aside’. It didn’t work out well,” he said.

Mr Holmes a Court at the National Press Club. Picture: Martin Ollman/NewsWire

“I know of a particular wind farm where construction trucks chewed up the roads and chose to move big goods during the school bus drop-off time so kids were missing classes.

“The industry had been arrogant and assumed that everyone would move aside because they were saving the world. What Alex Dyson is tapping into is very real concerns in his community that consultation needs to be improved.

“Communities are rightfully asking, as they are of many industries, if you are going to come here it needs to be with significant community benefits.”

Mr Holmes a Court blasted those who described Climate 200 as “cashed up”, claiming the election account was down to $76.80 on Tuesday and its mantra was “go broke every week”.

“We get every cent donated to grassroots campaigns every week. With the election extended by three weeks at least, donations are crucial now.

“The 35 campaigns we have supported are up against the big money of the major parties, Clive Palmer and the massive influence of Gina Rinehart and her fossil fuels lobby.”

While Mr Holmes a Court denied turning down any “genuine groups that approached us” ahead of the next election, The Australian understands the Voices for Jagajaga was one group told it had “missed the cut off”.