Financial firms should have to disclose how their investments affect climate change, a senior official from the Reserve Bank of New Zealand said.

“Currently, 60% of surveyed banks (and a third of surveyed insurers) already disclose some information on climate risk,” said Christian Hawkesby, assistant governor at the RBNZ, on February 13.

But Hawkesby said the RBNZ would “support further efforts towards a credible and workable climate-reporting framework”.

Enforcing compulsory disclosures, he