This article examines the impact that New Zealand’s new climate impact disclosure bill – a world first – will have on businesses based on Australia. The New Zealand bill will financial sector companies to disclose the impact of climate change on their businesses and how they intend to manage risks and opportunities related to climate.
In particular, the article’s analysis finds that Australian businesses should ensure that they properly assess climate change risks and that they should disclose those risks where/when necessary. Furthermore, they should be prepared to for additional pressure from regulators and lawmakers who demand further disclosures.
Authors: Will Heath, Partner, and Daisy Mallett, Partner, King & Wood Mallesons
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