Source: Ministry for the Environment
Date: 15 September 2020
New Zealand is set to be the first country to require financial market participants to assess and report climate-related financial risks.
The new disclosure regime will not only help businesses and investors understand how risks will impact balance sheets over the longer-term, but also incentivise greater investment in low-emissions activities needed to meet New Zealand’s climate change targets.
The regime would be introduced through an amendment to the Financial Markets Conduct Act (2013). If approved by Parliament, financial entities could be required to make disclosures in 2023 at the earliest.