Continued the debate
Senator Faruqi moved the second reading, arguing that the bill would force public universities to divest from industries causing harm to people and the planet. Faruqi stated that partnerships with weapons, fossil fuel, gambling, and tobacco companies contradict the core purpose of universities to advance the public good. The bill requires disclosure of existing partnerships and divestment within six months, with provisions for Commonwealth compensation for funding shortfalls. Faruqi highlighted specific examples of Australian universities holding shares in weapons manufacturers like BAE Systems and Elbit Systems, linking these investments to conflicts in Gaza and Lebanon. Faruqi emphasised that decades of underfunding by successive governments have forced universities to rely on harmful corporate funding.