15 December 2022
Landmark moment in New Zealand’s transition to a low-emissions future
Today, Michele Embling, Chair of the External Reporting Board (XRB), has announced that the Climate-related Disclosures standards have now been published.
Around 200 of New Zealand’s most economically significant entities will start reporting against the standards from 1 January 2023. Reporting on climate-related risks and opportunities is largely still in its infancy, but Ms Embling believes having formalised reporting standards will build momentum and catalyse change.
“By providing investors with the information they are increasingly demanding, such as a company’s greenhouse gas emissions, the reporting regime will help to drive capital towards activities that support the transition to a low-emissions future. It will also galvanize directors and management to start looking closely at their climate-related risks and opportunities and what strategies and plans they have in place to manage them.” Says Ms Embling
The reporting standards have been developed through three consultative iterations over the past 18 months according to the XRB’s Chief Executive, April Mackenzie.
“The level of active engagement on this work has been impressive. New Zealand organisations and individuals are clearly and rightfully very passionate about this topic. We are immensely grateful to everyone who got involved in this work and provided feedback—we couldn’t have done it without them.”
Ms Mackenzie says a number of changes to the draft standards have been made following the last round of consultation.
Find Aotearoa New Zealand Climate Standards here.
Media contact: Emily.email@example.com 0274140340