A World Economic Forum report puts natural catastrophes and extreme weather events at the top of New Zealand's risk list for doing business.
Christchurch during earthquake
Source: 1 NEWS
Climate Change Minister James Shaw says that clearly shows the need for a net zero carbon economy, one of the government's key environmental goals.
"When it comes to global risks of highest concern for doing business in New Zealand, natural catastrophes are at the top of the list followed by extreme weather events," he said.
"Water crises and failure of climate change mitigation and adaptation rank as the 7th and 8th highest risks."
According to the WEF, New Zealand's main risks are:
1. Natural catastrophes
2. Extreme weather events
3. Cyber attacks
4. Asset bubble
5. Failure of urban planning
6. Failure of critical infrastructure
7. Water crises
8. Failure of climate change mitigation & adaptation
9. Failure of financial mechanism or institution, terrorist attack, data fraud or theft
The World Economic Forum has been producing Global Risk reports for more than a decade by surveying 1000 business leaders in the Forum's network.