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BREAKING
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted

New Zealand to Oblige Banks to Report Climate Impact

  • By Al Mayadeen
  • Source: Agencies
  • 21 Oct 2021 08:56
2 Min Read

New Zealand passed a green law that allows investors to hold financial institutions accountable with regard to their environmental records.

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  • ANZ Bank New Zealand
    ANZ Bank, New Zealand.

New Zealand passed a law Thursday that obliges banks to disclose the impact their investments have on climate change. Wellington described this move as the world's first to make the financial sector's environmental record more transparent.

Climate Change Minister James Shaw said the law would compel banks, insurance companies, and investment firms to disclose their portfolios' global warming record as of next year.

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The minister, who will head to Glasgow for the COP26 climate summit in late October, where 20,000 heads of state, diplomats, and activists will meet to discuss climate change and cutting emissions from fossil fuel, said the disclosures would outline the real-world consequences of investment choices. This would allow investors to make more green choices and hold financial institutions accountable.

The law will "encourage entities to become more sustainable by factoring the short, medium, and long-term effects of climate change into their business decisions," the climate change minister said in a statement.

"New Zealand is a world leader in this area and the first country in the world to introduce mandatory climate-related reporting for the financial sector," he added.

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