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Which of the following has recently become the first country to pass laws requiring banks and investment managers to report the impacts of climate change on their business?
  • a)
    Finland
  • b)
    New Zealand
  • c)
    Canada
  • d)
    Ireland
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following has recently become the first country to pass l...
  • New Zealand has become the first country to pass laws requiring banks, insurers and investment managers to report the impacts of climate change on their business.
  • The new laws will require financial firms to explain how they would manage climate-related risks and opportunities, and the disclosure requirements will be based on standards from New Zealand’s independent accounting body.
    • The law will force financial firms to assess not only their own investments, but also to evaluate the companies they are lending money to, in terms of their environmental impact.
  • The disclosures will become mandatory for financial years beginning in 2023.
  • Hence, option B is correct.
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Community Answer
Which of the following has recently become the first country to pass l...
  • New Zealand has become the first country to pass laws requiring banks, insurers and investment managers to report the impacts of climate change on their business.
  • The new laws will require financial firms to explain how they would manage climate-related risks and opportunities, and the disclosure requirements will be based on standards from New Zealand’s independent accounting body.
    • The law will force financial firms to assess not only their own investments, but also to evaluate the companies they are lending money to, in terms of their environmental impact.
  • The disclosures will become mandatory for financial years beginning in 2023.
  • Hence, option B is correct.
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Which of the following has recently become the first country to pass laws requiring banks and investment managers to report the impacts of climate change on their business?a)Finlandb)New Zealandc)Canadad)IrelandCorrect answer is option 'B'. Can you explain this answer?
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