Gregory Ivan CombetAO (/ˈkɒmbeɪ/; born 28 April 1958) is the chairman of Australia's sovereign wealth fund, the Future Fund. Prior to this he served as chair of the Australian Government Net Zero Economy Agency, establishing a government authority to oversee the economic transformation from fossil fuels to renewable energy and net zero emissions.
Combet was for many years an Australian labour movement leader. He is a former Labor politician and Cabinet Minister, former leader of the Australian Council of Trade Unions, former leader of profit-to-member superannuation funds and chair of investment manager IFM Investors.
Combet holds degrees in Mining Engineering and Economics, has a graduate diploma in Labour Relations and the Law, and has been awarded honorary doctorates from the University of South Australia, the University of Newcastle, and an honorary doctorate of engineering from the University of New South Wales.
Over the ensuing six years Combet was appointed to numerous Ministerial roles. These included responsibilities in the Climate Change, Defence and Industry portfolios. Combet was the Minister for Climate Change, Industry and Innovation in the Gillard Government and in this role successfully negotiated and legislated a carbon pricing scheme that reduced Australia’s greenhouse gas emissions.[1]
Following his retirement from Parliament Combet worked as a company director and consultant. In 2020, Combet was appointed to the National COVID-19 Coordination Commission to "provide strategic and policy advice" for the Morrison Coalition government.[5]
Combet's association with the Australian Council of Trade Unions (ACTU) began in 1993 when he became a Senior Industrial Officer. In 1996 he was elected Assistant Secretary and in 1999 following the retirement of Bill Kelty, he became Secretary. Over his time at the ACTU, Combet has co-ordinated many union campaigns, and rose to prominence during the 1998 Australian waterfront dispute. Combet led successful campaigns to secure entitlements and compensation for the staff of the collapsed airline Ansett Australia, and in 2004 led the fight for asbestos victims of the James Hardie company. The asbestos compensation fund established at that time has paid out in excess $2 billion to victims over the ensuing 20 years. Combet cites the asbestos compensation fund in his autobiography as an especially proud achievement. In his capacity as Secretary of the ACTU, Combet led the Rights at Work campaign against the Howard government's WorkChoicesindustrial relations law changes.
Parliament
Combet speaking in November 2005, shortly after the Government introduced its WorkChoices legislation
On 4 May 2007 Combet announced his intention to run for the safe Labor seat of Charlton in Newcastle, New South Wales.[8]
Combet speaking at the Your Rights at Work rally in Melbourne, 15 November 2005Combet explaining the effects of the proposed carbon pricing mechanism in 2011 during a public forum at Petersham town hall
Combet was elected as the new member for Charlton on 24 November 2007 as part of the ALP's victory in the 2007 Australian federal election, achieving a two party preferred swing of 4.47 per cent, winning 62.87 per cent of the two party vote.[10] Following the election, Prime Minister Kevin Rudd appointed Combet as Parliamentary Secretary for Defence Procurement in the First Rudd Ministry. He was sworn in on 3 December 2007.[11] In February 2009, Combet was appointed Parliamentary Secretary for Climate Change, with a focus on emissions trading, to assist Climate Change Minister Senator Penny Wong.
6 June 2009 Combet became Minister for Defence Personnel, Materiel and Science and Minister Assisting the Minister for Climate Change. Combet's portfolio was amended into April 2010 to Minister Assisting the Minister for Climate Change and Energy Efficiency and Minister for Defence Materiel and Science[12] and to help him focus on the Government's energy efficiency programs, he axed part of this scheme—Home Insulation Program (HIP) in late April due to the safety risks and the blow-out in funding.[13][14]
Combet was re-elected to Charlton at the 2010 federal election, suffering a post-redistribution two party swing of 0.24 per cent, winning 62.67 per cent of the two party vote.[15] After Labor was returned to government in this election, Combet entered Cabinet, succeeding Wong as Minister for Climate Change and Energy Efficiency. Following the passage of the government's Clean Energy Bill, the portfolio of Industry and Innovation was added to Combet's responsibilities.
Combet had decided to step down over health concerns prior to Prime Minister Gillard's defeat in a leadership spill on 26 June 2013, but brought this decision forward and announced he would step down as minister and not contest his seat in the upcoming election.[2][3][16] The seat of Charlton was subsequently won for the ALP by Combet's former advisor and chief-of-staff Pat Conroy.[17]
Post political career
Since leaving parliament, Combet has worked as a consultant to unions, governments and business and as a company director. Combet worked primarily with industry superannuation funds from 2013 to 2024 and in December 2018 became chair of Industry Super Australia and Chair of IFM Investors, a global asset management business owned by the industry superannuation funds.
In 2020, in response to the COVID-19 pandemic in Australia, Combet was appointed to "provide strategic and policy advice" for the Liberal Morrison government.[18] In this role he helped create the JobKeeper program that sustained millions of people during the pandemic.
Combet, writing in The Guardian in late‑2021, describes Australia's failed climate policies and argues that a sensible energy transition is indeed possible. In 2023 he was appointed by Australian Prime Minister, Anthony Albanese, to chair the Net Zero Economy Agency to oversee the transformation of the economy to net zero emissions.[19]
Combet was appointed chairman of the Future Fund in February 2024.[20] The Future Fund is the largest financial asset of the Australian Government.
Personal life
On 12 June 2006, Combet was appointed a Member of the Order of Australia for service to industrial relations and through advocacy for the improved health and safety of workers, including people affected by asbestos-related diseases, and to the community.[21] He was promoted to Officer of the Order of Australia in the 2024 King's Birthday Honours.[22]
↑Kelly, Paul (2014). Triumph and Demise: The Broken Promise of a Labor Generation. Melbourne: Melbourne University Press. p.470. ISBN978-0-522-86210-2.
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