Top Posts
African climate change projects secure major funding
Former French PM urges China, Europe to unite...
NDDC, FOSDO launch tree-planting campaign to address climate...
WHO unveils an ambitious blueprint for action on...
New report shows nearly 900 million poor people...
Lagos to Host 2025 International Climate Change Summit
New study shows overheating world will add 57...
NAICOM urges W’African insurers to invest in climate...
Climate change: Nigeria, development partners launch Net Zero...
Nigeria launches net zero project to fight climate...
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

New Zealand central bank releases proposed guidance for managing climate risks

by Matthew Eloyi March 28, 2023
written by Matthew Eloyi March 28, 2023
603

Reserve Bank of New Zealand has released a draft guidance on how organizations should manage climate-related risks as part of a larger risk management framework.

The bank said in a statement that entities needed to look ahead to a range of plausible future climate scenarios, in developing actions and targets to ensure that their business model and strategy are resilient.

The central bank is recommending that organizations increase their capacity for scenario analysis and stress testing connected to climate change.

Read Also: EU ministers approve plan to phase out combustion engine vehicles from 2035

Although certain characteristics of climate-related risks make it vital to give them specific analytical analysis, the central bank’s draft guidance advises that organizations manage climate-related risks within their larger framework for risk management.

Since the beginning of 2023, a number of major incidents have affected New Zealand; insurance firms have already received more than NZ$1 billion in claims, and the government is evaluating whether it may now be too hazardous to rebuild in some places.

The Deputy Governor of the bank, Christian Hawkesby said “We recognise that climate-related risks will not affect all entities equally and the guidance stresses that appropriate measures are proportionate.”

Story was adapted from Reuters

Climate risksNew ZealandReserve Bank of New Zealand
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
EU ministers approve plan to phase out combustion engine vehicles from 2035
next post
IRENA says $5 trillion per year needed to meet climate goals

Related Posts

Former French PM urges China, Europe to unite...

October 22, 2025

WHO unveils an ambitious blueprint for action on...

October 20, 2025

New report shows nearly 900 million poor people...

October 20, 2025

New study shows overheating world will add 57...

October 16, 2025

Heaviest monsoon in a decade kills 458 people...

October 9, 2025

Council releases first fully electric bin lorry

October 9, 2025

Study shows US asthma inhalers produce same emissions...

October 7, 2025

Pope Leo hits out at climate change critics

October 3, 2025

Protesters seek $5tr payment from fossil fuel companies

October 1, 2025

UN official says climate change displaces up to...

September 30, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World