Economic Development, Science and Innovation Committee
NZBA supports the policy underpinning the Bill – to introduce mandatory annual disclosures of financially material climate-related risks and opportunities for most financial market participants. The policy reflects the increasing and urgent need to mitigate the significant effects of climate change. As noted in the Bill’s explanatory note, financial markets can play a major part in shifting investment towards low-emission, resilient development pathways, assisted by the disclosure to investors of consistent, comparable, reliable, and clear information about climate-related risks and opportunities.