Climate 200's ability to donate to independents across the country stands to be significantly curtailed by new electoral funding laws passed in the last parliament which Ms Steggall and Ms Spender have both suggested are biased towards political parties.

A political party would have greater flexibility to prioritise resources and support multiple candidates than a collection of like-minded independents working together without a party structure.

From the ABC coverage: https://www.abc.net.au/news/2026-06-25/allegra-spender-and-zali-steggall-form-centrist-party/106839026

I think this is the main reason, even if they deny it. This move doesn't make sense without it. Bit of an oversight from SBS to not mention it, honestly. It's also mentioned in the Guardian's coverage (linked in arbilp3's comment).