New Zealand will force companies to act on climate

For the first time, a climate reporting duty has been introduced for companies, with the aim of making the fight against climate change a priority

Pexels Pictures | Jürgen

The new Zeland had become The first country in the world to pass a law requiring financial institutions to disclose information, Forced to act on the risks associated with climate change.
The new rules will apply to major insurers, banks, publicly traded companies and investment managers.

At present, most of these large New Zealand entities provide little information about what the climate crisis and global warming could mean for their future operations. By forcing them to reveal it, the law hopes to ensure that The effects of the climate crisis are constantly taken into account in corporate business decisions.

New Zealand, the first country in the world to impose climate law on companies

“We have the opportunity to pave the way for other countries to make climate-related disclosures mandatory“, I have announced Climate Change Minister James Shaw. “New Zealand is the world leader in this field and The first country in the world to introduce a climate reporting duty for the financial sector“.

James Shaw said the legislation was one of the many actions the government was taking for it Meets emission targets for 2050 Required under the Climate Change Response Act of 2002.

So far, New Zealand has made a lot of mistakes in achieving its climate goals. Country One of the worst in the world in terms of emissions. Its emissions increased by 57% between 1990 and 2018, the second largest increase of all industrialized countries. Earlier this year, data showed New Zealand’s emissions increased by 2% in 2018-2019.

How do European countries move?

Many European countries are introducing laws Or similar regulations to combat climate change.

In June, it was France Setting new targets requiring investors to declare how green their assets are and setting targets for greenhouse gas emissions every five years from 2021 onwards, was the first major economy to make the rules binding. Similar standards are being worked on in United kingdom It should come into effect in 2025.

Italy, climate goals are still far

Is it Italy? Although our country has announcedTarget to reduce emissions by 60% by 2030Few concrete actions have been taken. At the moment, Italy is Al Seventeenth place in the world ranking for total carbon dioxide emissions. It represents 1% of the total emissions. Unlike New Zealand, the Emissions decreased by 19.4%. From 1990 to 2019, an excellent result is still not enough.

Meanwhile, the European Union raised standards, Aiming for climate neutrality by 2050However, the Italian government does not yet have a concrete plan to achieve the goal.
They were at the corporate level More than 432 thousand Companies that invested between 2015 and 2019 in green products and technologies. This is a recent Greenitaly report image.

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