RBNZ abusing its regulatory powers on climate change

NZ Initiative economist Matt Burgess says the RBNZ should stick to worrying about inflation. (Image: supplied)

Tue, 09 Nov 2021

Pro-free markets think tank The New Zealand Initiative is accusing the Reserve Bank of overstepping its mandate on climate change and abusing its regulatory powers.Economist Matt Burgess is taking issue with the Reserve Bank of New Zealand's (RBNZ's) "strongly-worded threat" to the financial institutions it regulates made in a climate change report published on Oct 26.The RBNZ wrote: "We will promote banking sector climate change capabilities by increasing supervisory intensity on entities that are not positively progress...

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