Country hopes to ensure effects of climate crisis are always considered in business, investment, lending and insurance decisions
New Zealand has become the first country in the world to pass a law forcing financial institutions to disclose and, the government says, act on climate-related risks and opportunities.
“We have an opportunity to pave the way for other countries to make climate-related disclosures mandatory,” climate change minister James Shaw said. “New Zealand is a world-leader in this area and the first country in the world to introduce mandatory climate-related reporting for the financial sector.”
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