New Zealand becomes first country to pass legislation requiring organisations to report, act on climate change risks
Image Credit: free press journal
New Zealand has become the first country in the world to pass a law that will ensure financial organisations to disclose and act on climate-related risks and opportunities, the government announced. The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill has now passed its third reading. Once in effect, it is expected to make a significant contribution to New Zealand achieving carbon neutrality by 2050.