Latest Updates

Latest climate-related disclosures news, presentations, and publications.

28 July 2022

Shedding sunlight on climate risks and opportunities

Today the External Reporting Board (XRB) has released their final consultation on the Climate related Disclosure standards which around 200 of New Zealand’s largest entities will need to report against from next year.

Development of the reporting regime followed the Government’s announcement of its intention to introduce a world-first mandatory climate reporting regime. Currently, New Zealand’s largest entities provide limited information on how climate change could impact their future operations.

XRB Chief Executive April Mackenzie says today’s release is a significant milestone towards ensuring the effects of climate change are actively and routinely considered in business, investment, and lending decisions.

“Climate disclosures bring climate-related risks and opportunities front and centre so that entities are prompted to think about their strategy and business model and assess whether they can continue to create value in the long term, or whether they need to adapt.”

Mackenzie stresses that investors and shareholders are increasingly demanding greater transparency through the disclosure of climate-related risks and opportunities.

“The disclosures are about transparency and trust. These sit at the heart of decision making—for investors and the entities themselves.

Ultimately, it’s about driving investment and capital away from high-emissions activities and towards low-emissions activities. We are confident the disclosure regime we’ve developed will support that transition.” says Mackenzie.

The XRB’s consultation closes 26 September 2022 – further information can be found here.

Media contact: Emily.marden@xrb.govt.nz 0274140340


Previous Updates

New Zealand a step closer towards Climate reporting

New Zealand a step closer towards Climate reporting

16 March 2022

Today, the External Reporting Board has released the second part of the Climate-related Disclosure standards for public consultation. 

Read more...

First ever Climate change-related disclosure consultation begins

First ever Climate change-related disclosure consultation begins

20 October 2021

The External Reporting Board (XRB) today began consultation with business on the first part of the Government’s proposed climate-related disclosure standards.

Read more...

Emerging Questions

Emerging Questions

30 August 2021

As we finalise the first consultation paper on Governance and Risk Management (to be released on 20 October), work is also underway on the more complex Strategy and Targets & Metrics sections of the disclosure standards.   

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Second update on Parliamentary process

Second update on Parliamentary process

26 August 2021

Select Committee has reported back on its recommendations for the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill.

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Update on Parliamentary process

Update on Parliamentary process

8 July 2021

The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill is making its way through Parliament and is currently at Select Committee stage. 

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XRB appoints Climate Policy expert to lead disclosure work

XRB appoints Climate Policy expert to lead disclosure work

17 June 2021

Today Chief Executive of the External Reporting Board, April Mackenzie, has announced the appointment of Dr Amelia Sharman as Director of Climate Reporting. 

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