THE NATURE Conservancy Australia, in a joint venture with Tiverton Agriculture, has purchased the Juanbung and Boyong cattle stations in western NSW, along with the properties’ water rights, for $55 million.

The deal is the most valuable private conservation-focussed purchase in Australia’s history and will protect almost the entire extent of the Great Cumbung Swamp from conversion to irrigated cropping.

Uniquely located at the confluence of the Lachlan and Murrumbidgee rivers, the Great Cumbung is one of the largest and most important wetlands in the Murray-Darling Basin. It is home to 131 bird species and more than 200 plant species.

Announcing the purchase, TNC country director Rich Gilmore said, "Today, more than ever, we need science-based, pragmatic solutions that deliver benefits for people and nature. If we are to save the Basin’s rivers and the communities that depend on them, conservationists, irrigators and Governments must come together and act with courage, urgency and optimism.”  

In addition to wetland conservation and water recovery, the Great Cumbung will continue to support economic development and jobs in the Riverina. Tiverton will manage the property for the dual objectives of conservation and sustainable agriculture.

“We look forward to managing this outstanding property and exploring future sustainable land use options such as carbon, biodiversity offsets and stewardship, and ecotourism”, said Tiverton director, Nigel Sharp.

The Great Cumbung will be managed in conjunction with the 87,000-hectare Gayini Nimmie-Caira property, which was purchased for conservation by the NSW Government in 2012 and is now managed by TNC and Nari Nari Tribal Council.

Tribal Council chair Ian Woods said, "Nari Nari people are very supportive of the purchase and we look forward to working with TNC and Tiverton at the Great Cumbung and Gayini Nimmie-Caira." 

Some of Australia’s most respected investors and philanthropists are supporting TNC’s work in the Murray-Darling, including John B. Fairfax AO, The Ian Potter Foundation, the Besen family, and the Baillieu Myer family’s Yulgilbar Foundation.

Funding was also provided by the US-based Wyss Foundation and the Wyss Campaign for Nature. Debt finance was provided by ANZ in line with the bank’s aim to support business practices that improve environmental sustainability. TNC is seeking more financial support to undertake further protection of the Great Cumbung and other important wetlands.

Formal settlement on the property acquisitions will take place in mid-February 2019.

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THE International Transport Workers’ Federation (ITF) today expressed opposition to the decision of BHP to dump Australian crew from two vessels that carried iron ore from Port Hedland in Western Australia to steelworks in Port Kembla and to China.

The decision will see 80 Australian seafarers lose their jobs, ending more than 100 years of Australian-crewed iron ore shipping servicing BHP and BlueScope steelworks, to be replaced by foreign crew on Flag of Convenience (FoC) vessels.

“For over 100 years, Australian crew have serviced the iron ore trade between Port Hedland and Australia’s steel makers, BHP’s decision destroys one of the oldest national domestic shipping supply chains in Australia,” said ITF Seafarers’ section chair Dave Heindel.

“Seafarers aboard the MV Mariloula and MV Lowlands Brilliance have been discarded, left high and dry. It is disturbing that BHP has initiated this action six months before the expiry of the charter, with next to no notice to the unions. The ITF condemns the move and calls on BHP to reverse this decision,” he said.

The ITF strongly supports Australian cabotage arrangements and the right of Australians seafarers to work in the domestic trade employed under Australian conditions.

James Given, chair of the ITF’s cabotage task force said, “The ITF has consistently opposed the alarming use of legal loopholes to circumvent national legislation that is intended to secure the rights of Australian seafarers and their entitlements in Australia’s domestic shipping trade.

“Based on information we’ve received, BHP and BlueScope have had plans to remove Australian seafarers from these two vessels and operate with foreign crews well in advance of the notice that our Australian affiliates received.

“This neglect is unacceptable and not in line with BHP’s stated commitment to working with integrity and respect. The ITF and our maritime affiliates worldwide, strongly reject the company’s behaviour which seems orchestrated to avoid accountability in Australia,” he said.

BHP annually charters around 1,500 vessels, majority of which are FoC vessels, with some vessels not covered by ITF agreements leaving seafarers exposed to exploitation and abuse.

“As a leader in the global transport and logistics industry and a participant in the UN Global Compact initiative, there is an expectation that BHP sets positive trends and not promote a race to bottom for transport of BHP product in domestic and international trade,” said Mr Given.

“The ITF stands firmly beside our Australian affiliates and the seafarers on these vessels. We call on BHP to immediately meet with the unions to rectify the matter back to the status quo, and invite the company to work with the ITF to ensure protections for all seafarers in their global supply chain,” he said..

About the ITF

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.

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THE International Transport Workers’ Federation (ITF) today expressed opposition to the decision of BHP to dump Australian crew from two vessels that carried iron ore from Port Hedland in Western Australia to steelworks in Port Kembla and to China.

The decision will see 80 Australian seafarers lose their jobs, ending more than 100 years of Australian-crewed iron ore shipping servicing BHP and BlueScope steelworks, to be replaced by foreign crew on Flag of Convenience (FoC) vessels.

“For over 100 years, Australian crew have serviced the iron ore trade between Port Hedland and Australia’s steel makers, BHP’s decision destroys one of the oldest national domestic shipping supply chains in Australia,” said ITF Seafarers’ section chair Dave Heindel.

“Seafarers aboard the MV Mariloula and MV Lowlands Brilliance have been discarded, left high and dry. It is disturbing that BHP has initiated this action six months before the expiry of the charter, with next to no notice to the unions. The ITF condemns the move and calls on BHP to reverse this decision,” he said.

The ITF strongly supports Australian cabotage arrangements and the right of Australians seafarers to work in the domestic trade employed under Australian conditions.

James Given, chair of the ITF’s cabotage task force said, “The ITF has consistently opposed the alarming use of legal loopholes to circumvent national legislation that is intended to secure the rights of Australian seafarers and their entitlements in Australia’s domestic shipping trade.

“Based on information we’ve received, BHP and BlueScope have had plans to remove Australian seafarers from these two vessels and operate with foreign crews well in advance of the notice that our Australian affiliates received.

“This neglect is unacceptable and not in line with BHP’s stated commitment to working with integrity and respect. The ITF and our maritime affiliates worldwide, strongly reject the company’s behaviour which seems orchestrated to avoid accountability in Australia,” he said.

BHP annually charters around 1,500 vessels, majority of which are FoC vessels, with some vessels not covered by ITF agreements leaving seafarers exposed to exploitation and abuse.

“As a leader in the global transport and logistics industry and a participant in the UN Global Compact initiative, there is an expectation that BHP sets positive trends and not promote a race to bottom for transport of BHP product in domestic and international trade,” said Mr Given.

“The ITF stands firmly beside our Australian affiliates and the seafarers on these vessels. We call on BHP to immediately meet with the unions to rectify the matter back to the status quo, and invite the company to work with the ITF to ensure protections for all seafarers in their global supply chain,” he said..

About the ITF

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.

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DEFENCE Minister Christopher Pyne will visit Japan, China and Singapore from January 22-28.

In Japan, Mr Pyne will meet with his counterpart, Japan’s Minister for Defense,Takeshi Iwaya, and senior Ministry of Defense and Japan Self-Defense Forces officials.

Mr Pyne said he was looking forward to discussing Japan’s recently revised defence guidelines and identifying future opportunities for Australia and Japan to work together to contribute to peace and security in the Indo-Pacific region.

“I will take this opportunity to engage with defence science and technology and industry representatives to discuss opportunities for future collaboration and joint research and development,” Mr Pyne said.

Following his visit to Japan, Mr Pyne will travel to the People’s Republic of China where he will meet with his counterpart, General Wei Fenghe, Minister of National Defense, and other senior Chinese officials to discuss regional security and bilateral issues.

Mr Pyne said the Australia-China defence relationship is "a key component of our broader bilateral relationship". 

“The government is committed to maintaining a long-term constructive relationship with China, founded on shared interests and mutual respect – China and Australia’s success will go hand-in-hand,” Mr Pyne said.

Mr Pyne will then travel to Singapore where he will meet with Prime Minister Lee Hsien Loong and his counterpart, Dr Ng Eng Hen, Minister for Defence.

“The Australia-Singapore Defence relationship is founded on strong, long-standing shared interests in regional trade, stability and security,” Mr Pyne said.

While in Singapore, Mr Pyne will also deliver the keynote address at the International Institute of Strategic Studies (IISS) Fullerton Forum and share Australia’s perspectives on important security challenges within the Indo-Pacific region.

“Australia is firmly committed to supporting robust dialogue on regional strategic issues, and recognises the IISS Fullerton Forum, along with the IISS Shangri-La Dialogue, as key regional defence and security institutions,” Mr Pyne said. 

www.defence.gov.au

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CONSULTATION on the new Code governing the conduct and practices of life insurance members of the Financial Services Council (FSC) has been extended until January 31, 2019.

The draft FSC Life Insurance Code of Practice is designed to lift standards in product design, sales, underwriting, customer service, complaints and claims handling.  The Code was first released for consultation in November 2018, which included public meetings in Sydney, Melbourne and Brisbane. 

More than 20 submissions from the public and key medical, consumer, and welfare groups have been either received or are in the process of being finalised.

FSC CEO Sally Loane said several organisations had requested additional time to make their submissions to the new Code.

“We want interested parties to know that the period for consultation has been extended until 31 January – there is still time to get your views heard,” Ms Loane said.

In all, more than 30 significant changes have been proposed to how FSC member life insurers will treat customers under the new Code, including:

• Banning pressure selling of products and coercive retention tactics.
• Banning medical disclosure checking without reasonable grounds.
• Ensuring customers are no better or worse off at claim time (excluding fraud).
• Improving Funeral insurance to ensure people understand what they are buying.
• A raft of reforms to underwriting, claims and mental health.
• Separating Consumer Credit Insurance (CCI) from credit product sales.

To obtain a copy of the Draft Code and the Consultation Questionnaire, click here.

About the Financial Services Council

The Financial Services Council (FSC) is a leading peak body which sets mandatory Standards and develops policy for more than 100 member companies in Australia’s largest industry sector, financial services. FSC's full members represent Australia’s retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies. FSC supporting members represent the professional services firms such as ICT, consulting, accounting, legal, recruitment, actuarial and research houses. The financial services industry is responsible for investing almost $3 trillion on behalf of more than 14.8 million Australians. The pool of funds under management is larger than Australia’s GDP and the capitalisation of the Australian Securities Exchange, and is the fourth largest pool of managed funds in the world.

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GLOBAL leader in cyber security, QuintessenceLabs, today announced founder and CEO Vikram Sharma’s participation at the World Economic Forum’s 2019 annual meeting in Davos-Klosters this week.

Dr Sharma’s attendance at Davos comes off the back of QuintessenceLabs being named a 2018 World Economic Forum Technology Pioneer, in recognition of the company’s cutting-edge advances in cybersecurity and leadership in quantum innovation.

QuintessenceLabs was one of a select group of companies around the world to be awarded the title of Technology Pioneer, for the design, development and deployment of technologies and innovations poised to make a significant impact on business and society.

While at Davos, Dr Sharma will participate in sessions between other Technology Pioneers and senior annual meeting delegates and share his insights on global security risks, and the role of quantum technologies as both a cybersecurity threat and an opportunity for businesses and governments.

“It was a great honour to be named a 2018 Technology Pioneer and, in turn, be invited to attend Davos with the world’s leaders and influencers across business, government, academia and the arts,” said Dr Sharma.

“I’m looking forward to contributing to a dialogue about today’s critical security challenges and highlighting the technological innovations being developed in Australia, that have the potential to solve global challenges.”

The World Economic Forum Annual Meeting will run from January 22 to January 25 in Davos-Klosters, Switzerland.

www.quintessencelabs.com

About QuintessenceLabs 

QuintessenceLabs is a global leader in quantum-enhanced cybersecurity solutions, creating unique products to deliver the strongest protection for data wherever it is, integrating quantum technology with high-value security capabilities. These include the world’s fastest true random number generator, highly capable key and policy manager, and integrated encryption solutions, to keep organisations secure today and prepared for tomorrow. The company is headquartered in Canberra, Australia.

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THE HOUSE of Representatives Standing Committee on Economics will hold public hearings in Queensland for its inquiry into the implications of removing refundable franking credits.

The chair of the committee, Tim Wilson MP, said, "The committee is examining how the removal of refundable franking credits would affect investors, in particular older Australians who have planned for their retirement under the existing rules and whose financial security could be compromised."

Mr Wilson said, "The committee has received well over 1000 submissions, including many from retires who are concerned they will be forced on to the aged pension if the ability to claim a refund on their franking credits is removed.

"These hearings will provide an opportunity for Australians impacted by a change to refundable franking credits to address the committee directly with a three minute statement, and we welcome their contributions and participation," Mr Wilson said.

Public hearing details:

Townsville, 2pm to 3.30pm, Tuesday, 29 January 2019, Pandora Room, Hotel Grand Chancellor, 334 Flinders St, Townsville City, Queensland.

Alexandra Headland, 9am to 10.30am, Wednesday, 30 January 2019, The Bluff Function Room, Alexandra Headland Surf Life Saving Club, 167 Alexandra Parade, Alexandra Headland, Queensland.

Paddington, 2.30pm to 4pm, Wednesday, 30 January 2019, Presentation Room, The Lavalla Centre, 58 Fernberg Rd, Paddington, Queensland.

Eight Mile Plains, 9am to 10.30am, Thursday, 31 January 2019, Central Auditorium, Brisbane Technology Park Conference Centre, 1 Clunies Ross Ct, Eight Mile Plains, Queensland.

Upper Coomera, 2pm to 3.30pm, Thursday, 31 January 2019, Upper Coomera Centre, 90 Reserve Rd, Upper Coomera, Queensland.

Further public hearings will be announced as the inquiry progresses. The hearings will be webcast live (audio only).

A number of submissions have been received and are available on the committee’s webpage at: www.aph.gov.au/economics.

A number of submissions are still being processed and will be published over the coming months. Submissions can be made online or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

www.aph.gov.au/economics

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CREW MEMBERS of the last Australian vessels operated by BHP and Bluescope are demanding the Federal Government intervene by refusing to issue a temporary license allowing flag of convenience ships crewed by exploited foreign workers to carry iron ore between Port Hedland and Port Kembla.

Almost 80 crew members from the MV Mariloula and MV Lowlands Brilliance were notified this week that the ships would be immediately withdrawn from the coastal shipping route and their jobs axed.

A number of these workers will tomorrow make a public plea to the Morrison Government to use their regulatory powers to save Australian seafaring jobs.

The seafarers will be joined by Maritime Union of Australia Southern NSW relieving branch secretary Mick Cross, along with Member for Cunningham and Standing Committee on Infrastructure, Transport and Cities deputy chair Sharon Bird, Member for Wollongong Paul Scully, and Member for Shellharbour Anna Watson.

The MUA said BHP and Bluescope were legally unable to use exploited foreign seafarers to carry iron ore between Australian ports without a temporary licence. These licences are subject to ministerial discretion, meaning the Deputy Prime Minister Michael McCormack, in his role as Minister for Infrastructure and Transport, will ultimately determine whether Australian seafarers remain on these iron ore vessels.

The loss of the MV Mariloula and MV Lowlands Brilliance will see the end of 100 years of Australian merchant mariners carrying iron ore for BHP.

www.mua.org.au

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