Best interests of the NZ company and sustainable disclosure rules

Financial markets globally can play a major part in the required unprecedented economic transformation in shifting investment away from emission-intensive activities and towards lowemission, resilient development pathways. However, it will require the disclosure of consistent, comparable, reliable and clear information about climate-related risks and opportunities that are, for the most part, not being made available to investors at present. The Bill will contribute to this in New Zealand by introducing mandatory climate-related financial disclosure requirements for certain FMC reporting entities that, under section 461K of the Financial Markets Conduct Act 2013, are considered to have a higher level of public accountability, including listed issuers, large banks, large non-bank deposit takers, and large insurers, and large managers in respect of managed investment schemes.