World: New Zealand introduces climate change law for financial firms in world first

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SYDNEY, April 13 (Reuters) - 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 NZ$1 billion , 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.

“This law will bring climate risks and resilience into the heart of financial and business decision making.” Around 200 of the country’s biggest companies and several foreign firms that meet the NZ$1 billion threshold will come under the legislation. The New Zealand government last September said it would make the financial sector report on climate risks and those unable to disclose would have to explain their reasons.

Source: News Formal (newsformal.com)

 

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The whole world must take note. Free our planet from pollution NOW. Its the only way on our planet to secure a livible live for the future generations. Pollution is the starting point of hell here on our heavenly earth created with love from God for all. STOP POLLUTION

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