New Zealand has become the first country in the world to pass a law ensuring financial organizations disclose and act on climate-related risks and opportunities, the government announced on Thursday. The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill passed its third reading with the goal of driving New Zealand’s push toward carbon neutrality by 2050. In a statement, Commerce and Consumer Affairs Minister David Clark and Climate Change Minister James Shaw said the bill was one of several actions New Zealand’s government is taking to meet its international obligations in achieving the carbon neutrality goal as required by the Climate Change Response Act 2002. The bill would require roughly 200 financial market participants to clearly disclose the risks and opportunities climate change presents their business. The new rules would apply to the largest financial firms in New Zealand, including banks, credit unions, and building societies with total assets of more than …