New Zealand's passed a world-first law making businesses disclose climate impacts

It's hoped the Financial Sector Amendment Bill will contribute to reaching carbon neutrality by 2050.

It requires about 200 financial market participants to reveal the risks and opportunities climate change presents their business.

The Commerce and Consumer Affairs Minister says it will promote business certainty, raise expectations and accelerate progress.

Climate Minister James Shaw says it puts climate risk at the heart of business ... and encourages entities to be more sustainable.