NZ fin companies will embrace upcoming climate change reporting laws
Tāmaki Makaurau - New Zealand financial companies and organisations will embrace upcoming changes today announced by government for them to report on their annual emissions, FintechNZ general manager James Brown says.
Aotearoa NZ 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.
Becoming the first country in the world to introduce a law like this means Aotearoa can pave the way for other countries to make climate-related disclosures mandatory.
The legislation will make climate-related disclosures mandatory for around 200 organisations, including most listed issuers, large banks, licensed insurers and managers of investment schemes.
“As we continue to see technology evolve, companies must also do the same,” Brown says.
“Open finance will enable a consumer to easily identify and track where their investments are being placed. This will create more transparency especially around fees and return.
“FinTech can have a significant positive impact on climate change, hence the reason the UK invested five billion pounds and opened the world’s first green fintech bank.
“We expect to see consumers begin to invest more in green fintech. These changes will help build some trust that was lost in the financial services sector as it won’t just be about the highest rate of return it will be about ethical investing,” Brown says.
For further information contact NZTech’s media specialist, Make Lemonade editor-in-chief Kip Brook on 0275 030188
Lisa was born in Auckland at the start of the 1970s, living in a small campsite community on the North Shore called Browns Bay. She spent a significant part of her life with her grandparents, often hanging out at the beaches. Lisa has many happy memories from those days at Browns Bay beach, where fish were plentiful on the point and the ocean was rich in seaweed. She played in the water for hours, going home totally “sun-kissed.” “An adorable time to grow up,” Lisa tells me.
Lisa enjoyed many sports; she was a keen tennis player and netballer, playing in the top teams for her age right up until the family moved to Wellington. Lisa was fifteen years old, which unfortunately marked the end of her sporting career. Local teams were well established in Wellington, and her attention was drawn elsewhere.