The Environmental Defenders Office today filed its financial accounts with the Australian Charities and Not-for-Profits Commission (ACNC).
These accounts include the outcome of the costs settlement in respect of a failed court action against fossil fuel producer Santos.
The outcome of that action was a $9 million costs award against the EDO which resulted in a $8.6 million loss for the previous financial year.
The costs awarded to Santos have been paid in full and been met through the use of reserves, access to insurance and the securing of a $6.5 million interest-free, working capital facility.
This facility will be repaid over multiple years and the organisation has pledges of support that give it confidence that the debt will be met.
No government grants will be used to meet the debt and the EDO’s ability to meet grant commitments will not be impacted.
Over recent months, the directors conducted extensive due diligence to confirm EDO’s status as a going concern and to ensure the organisation is able to plan for business as usual.
The EDO has been providing public interest legal services to the community for over 40 years and the role it plays in Australia’s democracy has never been more crucial.
Without a well-funded EDO, community groups without access to funding and resources would struggle to assert their rights to keep the climate safe, defend culture, and protect the species and places they love in the face of well-funded corporate interests.
There are some very powerful forces, here in Australia and abroad, who would be delighted if the EDO ceased to exist.
We will continue to support the community for as long as people need us.
