New Zealand Becomes First Country in the World to Pass Climate Change Disclosure Law
New Zealand has become the first country in the world to pass a law ensuring financial organizations disclose and act on climate-related risks and opportunities, the government announced on Thursday.
The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill passed its third reading with the goal of driving New Zealand’s push toward carbon neutrality by 2050.
In a statement, Commerce and Consumer Affairs Minister David Clark and Climate Change Minister James Shaw said the bill was one of several actions New Zealand’s government is taking to meet its international obligations in achieving the carbon...