The proposal would provide $275 million over 5 years to compensate organisations that lose revenue from breaking with fossil fuel companies, while those that seek sponsorship with the clean energy sector will be rewarded.

The proposal would extend the current tobacco advertising and sponsorship ban to cover fossil fuel companies and require emissions disclosure labels on car, plane and petrol station advertisements.

The proposal would be non-ongoing, distribute funding evenly over 5 years, include departmental costs within the cap and start on 1 July 2025.