Today we have issued a consultation on a draft climate reporting roadmap, setting out a proposed strategic direction for climate reporting in New Zealand.
The draft roadmap proposes:
issuing a new climate standard: NZ IFRS S2 Climate-related Disclosures (NZ IFRS S2)
that NZ IFRS S2 will be:
internationally aligned by adopting IFRS S2 Climate-related Disclosures (IFRS S2)
harmonised with Australia by considering what approach to take where there are differences between IFRS S2 and the climate reporting obligations in Australia under AASB S2 Climate-related Disclosures and the Australian Corporations Act 2001
locally relevant by considering what modifications, if any, are needed to fit with New Zealand’s legislative and regulatory settings, reporting practice and market context
a long transition, with early adoption from 1 October 2026 and mandatory application from 1 January 2033, while allowing continued application of NZ CS during the transition period.
The proposal aims to improve international comparability, reduce duplication for entities operating across borders, and enhance the usefulness of disclosures for investors and other primary users.
We are seeking practical, evidence‑based feedback on the overall direction, including the benefits and challenges of adopting IFRS S2, harmonised with Australia, any New Zealand‑specific modifications, and the proposed timeline.
The consultation closes on Wednesday 30 September 2026.
Feedback can be provided through written submissions or by participating in upcoming feedback forums.
Access the consultation
Register for one of our information webinars
