Climate change a major threat to NZ's economic stability – RBNZ's Orr

(Image: Getty)

Fri, 03 Nov 2023

The Reserve Bank of New Zealand will be keeping a close watch on how the financial system manages the economic risks of climate change, its governor, Adrian Orr, said On Friday.Orr was speaking in Auckland to Chapter Zero NZ, an organisation hosted by the Institute of Directors.He said central banks were not the key drivers of climate adaptation or transition finance. The job of the Reserve Bank of NZ (RBNZ) was to make sure the financial system managed economic risk, and climate change was one such risk. “Our financial sta...

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