New guidance for businesses about climate change

The Island's financial regulator has issued new guidance to businesses about climate change and nature loss risks.

The Financial Service Authority says it's the first step in a plan to create a sustainable finance industry.

Its guidance note explains how going green can lower financial and other risks, adding it won't create new requirements for firms.

The FSA says the Isle of Man Sustainable Finance Initiative will help businesses grow, educate staff, attract talent and businesses to the Island and help the Isle of Man achieve growth and sustainability goals.