15 Sep 2020

Climate risk reports for businesses would be world-first

From Midday Report, 12:43 pm on 15 September 2020

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.