Debanking bill 'financially dangerous'

Today 11:45am

New Zealand First MP Andy Foster
Image: Andy Foster/Facebook
New Zealand First MP Andy Foster

By Shannon Morris-Williams

A private member’s bill aiming to stop financial institutions from considering ESG factors has been slammed by leading investment groups, legal experts, and climate finance advocates as misguided, financially dangerous, and legislative overreach.

... login or subscribe for full story
Story copyright © Carbon News 2025

Related Topics:   Green finance Litigation Policy development Politics

More >
Politics
More >
Riwaka Sandy Bay Road during recent flooding

'Back-to-basics' approach for councils ignores climate risk

Fri 11 Jul 2025

By Shannon Morris-Williams | While ACT is standing local government candidates to oppose councils' attempts to manage emissions and ministers are calling for local authorities to 'get back to basics' - or even suggesting scrapping regional councils altogether - one expert says this narrative is putting communities at risk in the face of climate change.

Megan Woods

Climate backtracking could impact trade relationships: Labour

Wed 9 Jul 2025

By Liz Kivi | Labour Party Energy spokesperson Megan Woods says the government needs to be upfront about how its energy policies will impact trade relationships, following revelations New Zealand was warned by other governments that backtracking on climate policies jeopardised its membership of an international alliance.

Mayor Nick Smith and chief executive Nigel Philpott had reservations about the target.

Nelson adopts ambitious target to slash emissions

8 Jul 2025

By Max Frethey, Local Democracy Reporter | After some of the most passionate debate seen in the chamber this triennium, Nelson City Council has adopted the more ambitious of two community greenhouse gas targets.

Regulations Minister David Seymour

Open letter warns against Seymour's Regulatory Standards Bill

4 Jul 2025

By Shannon Morris-Williams | A group of prominent New Zealanders are speaking out against the Regulatory Standards Bill, with top climate scientist Jim Salinger warning it will have a chilling effect on future climate change and adaptation policy.

New Zealand Prime Minister Christopher Luxon with European Commission president Ursula von der Leyen

International group urges PM to strengthen climate targets

3 Jul 2025

By Liz Kivi | An international group of New Zealanders working on climate change issues has written to Prime Minister Christopher Luxon warning him against weakening climate targets.

McClay shrugs off legal warning in push for oil and gas

2 Jul 2025

By Shannon Morris-Williams | The Government has dismissed legal advice warning that its plan to co-invest in oil and gas exploration could breach international treaty obligations, sparking fresh criticism from the Greens in Parliament.

Debanking debate heats up as deadline looms for submissions on NZ First bill

1 Jul 2025

By Shannon Morris-Williams | The debate over so-called “woke banking” is back in the spotlight as the deadline approaches for public input on NZ First’s Debanking Bill.

NIWA forecaster Chris Brandolino tracking the 'subtropical river of moisture' that was set to drench the country

Govt policy going backwards on protecting communities from climate-fuelled flooding, say campaigners

1 Jul 2025

Extreme flooding at the top of the South Island demonstrates the dangers of the government’s ‘growth at any cost’ agenda, according to freshwater campaigners.

NZ quits Beyond Oil and Gas Alliance

25 Jun 2025

By Liz Kivi | The New Zealand government has quietly withdrawn from an ambitious coalition to phase out fossil fuels, with a $200 million publicly-funded subsidy for new gas fields the latest policy in conflict with that goal.