Author: Philip vanDyk

“Climate reporting entities’ ability to correctly assess the full future physical risk from climate change will improve as they both gain a better understanding of which global scenario/pathway that we are heading down and as they gain better modelling capability to understand the physical risks that climate change creates within each scenario,” he says.

Industry group, the New Zealand Banking Association, said the Commerce Commission’s preliminary issues paper was comprehensive and shows an understanding of key issues in personal banking.“In particular, the focus on the significant current regulatory requirements as well as those in train will  provide important context to competition and barriers in the industry.”

Beaumont said the permanent emergency exemption was a pragmatic step forward to enable banks to support customers quickly in a time of emergency, which the industry had been requesting since well before Cyclone Gabrielle.

Roger Beaumont from the New Zealand Banking Association says mortgagee sales should be a last resort. “More often than not, these situations occur when there has been a breakdown in communication,” he told Newshub.