Malcolm Turnbull

For the man who once demanded Kevin Rudd and Wayne Swan resign because of fabricated claims about grants given to mates, Malcolm Turnbull's role in the emerging scandal of the Great Barrier Reef Foundation is ironic indeed. The Great Barrier Reef Foundation, a small charity run by senior business figures and Business Council members from the fossil-fuel and banking sectors, was handed over $440 million by the government after a meeting between chairman John Schubert -- former Commonwealth Bank chair -- and Malcolm Turnbull and Josh Frydenberg.

The money was not sought by the foundation, there was no tender, grant approval or allocation process in relation to the grant and the meeting was held in secret, without any public servants participating. No due diligence was conducted on the foundation. The performance indicators for the grant -- or more accurately, handout -- haven't yet been determined.