New Zealand becomes first country to mandate climate risk disclosures

New Zealand has become the first country to pass legislation requiring financial entities to declare their climate-related risks.
Financial entities in New Zealand will have to comply with the framework laid down by the Task Force on Climate-related Financial Disclosures (TCFD).
The rule will apply to banks, insurers, all listed debt and equity issuers.

Points to remember:

1. Which is the first country to mandate its financial entities to mandate climate risk disclosures