Financial sector to disclose climate impact New Zealand has become the first country to introduce a law which requires the financial sector to disclose the impact of climate change on businesses.
Business by Richard Gluyas
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Subscriber only New Zealand has become the first country to introduce a law which requires the financial sector to disclose the impact of climate change on businesses and how they will manage climate-related risks and opportunities. The legislation has been introduced to parliament and will receive its first reading this week. Commerce and Consumer Affairs Minister David Clark said it was important that every part of NZ s economy was helping to cut emissions and transition to a low-carbon future.
PUTRAJAYA: Cabinet minister today expressed his concern over the lack of standard operating procedure (SOP) compliance at the Ramadan bazaar in Precin.
New Zealand Leads World in Corporate Reporting on Climate Change With New Law
New Zealand Prime Minister, Jacinda Ardern. Image credit: AFP
Commerce and Consumer Affairs Minister David Clark says New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities.
The Financial Sector (Climate-related Disclosure and Other Matters) Amendment Bill has been introduced to Parliament and will receive its first reading this week.
All banks with total assets of more than NZ$1 billion ($703 million), insurers with more than NZ$1 billion in total assets under management, and all equity and debt issuers listed on the country’s stock exchange will have to make disclosures.
Published on: Wednesday, April 14, 2021
By: Bernama
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PUTRAJAYA: The government is still maintaining a subsidised cooking oil quota of 60,000 tonnes per month despite the increase in the price of refined, bleached and deodorised (RBD) palm oil, says Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Seri Alexander Nanta Linggi
(pic). This is equivalent to 60 million one-kilogramme (kg) polybag packets, with 1.5 kg allocated for every Malaysian, including in Sabah and Sarawak.
Nanta said RBD palm oil increased by about 83 per cent to RM4,122 per tonne this year compared to RM2,255 per tonne in 2020.
“The government has also increased the allocation based on a commitment to supply 60,000 tonnes although the price of RBD palm olein has gone up,” he said, adding that the government expected the cost of the subsidy scheme to increase from RM400 million to RM1.8 billion if the price of RBD palm olein continued to rise.