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New Zealand Government Introduces World-First Climate-Reporting Disclosure Laws | Jones Day


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On April 12, 2021, the New Zealand government introduced an omnibus bill into parliament, aiming to introduce mandatory requirements for businesses in the financial sector to disclose the impacts of climate change on themselves and develop strategies to manage climate change risks and opportunities. The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill 2021 (Climate Bill) is touted by the New Zealand government as a world first piece of legislation.
In a speech at the first reading of the Climate Bill, New Zealand Minister of Commerce and Consumer Affairs, David Clark, noted how in December 2020, the New Zealand government declared a climate emergency, committing the nation to urgent action on reducing emissions. He said: ....

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