New Zealand Banks Should Measure Climate Impact – Les Nouvelles NEWS

In this feminist-led country, banks will have to reveal the impact of their investments on climate change. the first.

Environmental Feminism in Action? New Zealand, led by feminist Jacinda Ardern, has announced that it will pressure financial institutions to redirect their investments towards green economic activities.

The Prime Minister has made very ambitious commitments in the face of the climate emergency: New Zealand must achieve its carbon neutrality target by 2050 and produce all of its energy from renewable sources by 2035. But the final assessment shows that greenhouse gas emissions remain insufficient. New Zealand Herald. So the New Zealand government announced “urgent action”: Banks, insurance companies and investment firms will now be required to report on the climate change consequences of their investments.

This is the first of its kind in the world: “Being the first country in the world to introduce such a law means that we have the opportunity to show real leadership and pave the way for other countries to make the dissemination of climate information mandatory,” said Minister David Clark of Commerce. The largest financial institutions will be affected by this commitment to transparency, that is, about 200 of the largest companies in the country, and a number of foreign companies.

It may be an effective way to reduce polluting activities. Although New Zealand has been criticized for not including methane in its “zero carbon” target (however, methane accounts for 40% of the country’s emissions).

Last December, New Zealand joined ten other countries, including France, after declaring a “state of environmental and climate emergency”.

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A feminist activist, Jacinda Ardern has for several years pursued a welfare policy that is far more compatible with the environment than a race for economic growth in which financial institutions excel.

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