Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Reserve Bank welcomes steps by global climate initiative

8 April 2019

Reserve Bank of New Zealand welcomes next steps by global climate initiative

The focus on climate and environmental risk by central banks globally is accelerating, with the release of a comprehensive report at the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) conference in Paris overnight.

“The report targets an issue of extreme importance,” says Toby Fiennes, Reserve Bank Head of Financial System Policy and Analysis.

“The Reserve Bank is strongly committed to the work of the NGFS. It is a vital initiative which brings together central banks and supervisors to focus on climate and environmental risk. It means that we learn from the challenges faced by other central banks and share our responses. It supports our strategy to facilitate, where possible, a smooth transition to a low carbon economy, while ensuring our financial systems remain sound and efficient.”

The NGFS is a network of 34 central banks and financial supervisors focused on accelerating work on climate and environmental financial risk and scaling up green finance. The Reserve Bank joined the NGFS in December 2018.

More information

Read the NGFS media release, full report and watch a short video


© Scoop Media

Business Headlines | Sci-Tech Headlines


Real Estate: Auckland House Price Deflation Accelerates

The decline in Auckland house prices is starting to accelerate as the number of house sales plummet, not just in Auckland but in most parts of the country. More>>


'Wellbeing Budget': Grant Robertson Pre-Budget Speech

There has been a fair amount of attention in the media here and internationally on this year’s budget – our country’s first Wellbeing Budget. Enough for me to be invited to the recent Spring Meetings of the World Bank and International Monetary Fund, to talk about our approach... More>>


New Vodafowners: Vodafone Sale To Infratil Consortium

Vodafone Group Plc has today announced the conditional sale of 100% of Vodafone New Zealand Limited to a consortium of long-term investors, New Zealand-based Infratil, and Canada-based Brookfield Asset Management. More>>


Ice Cream: Global Giant Buys Tip Top From Fonterra

Froneri has today agreed to acquire the iconic New Zealand ice cream business Tip Top from global dairy co-operative Fonterra with completion expected by the end of the month. More>>