In a world first New Zealand to force banks to reveal the impact they have on climate change

New Zealand will force banks to reveal the impact their investments have on climate change under world-first legislation intended to make the financial sector’s environmental record transparent.

Commerce Minister David Clark says the law would make climate reporting mandatory for banks, insurance companies and investment firms.

By becoming the first country in the world to introduce a law like this means the Kiwis have an opportunity to show real leadership and pave the way for other countries to make climate-related disclosures mandatory.