Sussan’s Pact

This story is based on another excellent thread by Belinda Jones – (https://twitter.com/BelindaJones68/status/1280071131290931200)

You may not have heard of Pact Group. They’re in the recycling business and last year they reported a $320 million half-year loss (https://www.smh.com.au/business/companies/pact-appoints-ex-bluescope-executive-as-ceo-after-its-shock-result-20190328-p518fi.html). In March 2020 they announced a $500 million investment. Quite a turnaround.

It’s helped by a Federal Government grant of $190 million. This may, or may not, be the same $200m they promised to recycling in May 2019 (https://www.smh.com.au/federal-election-2019/coalition-to-promise-200-million-in-pitch-to-voters-on-the-environment-20190502-p51jjf.html), we don’t know.

Now, why Pact Group? As Belinda notes in her thread, 

  • Pact Group Executive Chairman Raphael Geminder was seen at a Liberal Party fundraiser in in March 2019
  • Non-Executive Director Michael Wachtel also sits on the Board of the Future Fund with Peter Costello

Does this look dodgy to you?

Further reading:

National Plastics Summit signals changes for plastic recycling – https://minister.awe.gov.au/ley/media-releases/national-plastics-summit-signals-changes-for-plastic-recycling

Pact Group leads the Circular Economy through $500 Million Investment Plan – https://pactgroup.com.au/news/pact-group-leads-the-circular-economy-through-500-million-investment-plan/

Job boost expected from $600m recycling scheme as 2024 export ban looms – https://www.smh.com.au/politics/federal/job-boost-expected-from-600m-recycling-scheme-as-2024-export-ban-looms-20200703-p558qh.html

$190m “bonza” boost to recycling industry – https://www.sustainabilitymatters.net.au/content/sustainability/article/-190m-bonza-boost-to-recycling-industry-1160238095

Full story at Original twitter thread – https://twitter.com/BelindaJones68/status/1280071131290931200

Photo credit: https://www.betootaadvocate.com/headlines/ssssh-sussan-ley-says-to-party-member-who-asks-how-she-stays-so-tanned-in-canberra/

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