CNBC - New Zealand introduces climate change law for financial firms in world first
April 15, 2021
Circular Economy, ClimateChange
New Zealand has become the first country to introduce a law that will require banks, insurers and investment managers to report the impacts of climate change on their business, minister for climate change James Shaw said on Tuesday.
All banks with total assets of more than 1 billion New Zealand dollars ($700 million), insurers with more than NZ$1 billion in total assets under management, and all equity and debt issuers listed on the country’s stock exchange will have to make disclosures.