Tim Wilson holds undisclosed shares in climate firm via family trust

Shadow Treasurer Tim Wilson holds undisclosed shares in a climate advisory firm via his family investment trust, records from the Australian Securities and Investments Commission (ASIC) reveal. This revelation raises questions about compliance with parliamentary disclosure requirements.

Parliamentary rules mandate that Members of Parliament (MPs) must declare any interests in shares, including those held indirectly through trusts or self-managed superannuation funds. Wilson's investment trust, Bolger Wilson Investments, reportedly holds 15,000 shares in Gondwana Carbon, a company that assists businesses in developing emissions reduction projects and trading carbon credits.

Gondwana Carbon actively participates in carbon credit schemes, including the "Safeguard Mechanism" for major polluters, a policy the Coalition has pledged to abolish. The firm also promotes opportunities for landowners to profit from the net-zero emissions transition. Gondwana Carbon's website highlights the "significant opportunity" presented by the drive towards net zero.

Wilson's trust maintained a directorship in Gondwana Carbon until May 29 of the previous year, shortly after his second election to parliament. Although the directorship has ceased, the shares remain held within the trust. A spokesperson for Mr. Wilson asserted that his declarations are compliant, stating, "Mr Wilson has declared the trust. Mr Wilson has not owned those shares."

Further scrutiny revealed that Wilson's trust also held shares in Spektrum Holdings, a critical minerals advisory firm, until February of this year, which were also not disclosed on his parliamentary register. These shares were sold to The Ad Department, a political campaigning firm run by former Howard adviser Toby Ralph, the day before Wilson assumed the role of shadow treasurer. In separate filings, Wilson also notified the sale of his stake in the political campaign agency Narractive to The Ad Department.

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Mr Wilson's declarations are in order. Mr Wilson has declared the trust. Mr Wilson has not owned those shares.