New Zealand could be the first country to require the financial sector to report on climate risks under a new regime proposed by the Climate Change Minister.
The mandatory reporting system would require all banks, credit unions, building societies, investment schemes and insurers with more than $1 billion in assets, to report on how exposed their business are to climate-change related risk.
About 200 organisations would be impacted by the new rules, which - if approved by parliament - would begin no earlier than 2023.
Māni Dunlop spoke with the Climate Change Minister, James Shaw.
