Sustainability Reporting

Sustainability reporting provides an overview of the economic, environmental, social and cultural impacts, caused by an entity’s activities.

The External Reporting Board are currently developing a voluntary, non-financial reporting framework for Aotearoa New Zealand. 

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Developing a non-financial Reporting Framework for Aotearoa New Zealand

Project overview: Ngā pou o te kawa ora 

Ngā pou o te kawa ora refers to the pillars that are the principles of life and is the name of the project that aims to establish a voluntary, non-financial reporting framework from an Aotearoa New Zealand perspective. 

Why we’re developing this framework

Traditional financial reporting frameworks limit the ability for entities to demonstrate value and impact beyond monetary perspectives. The ability for entities to demonstrate the impact they are having on current and future generations and convey this in a way that is unique to Aotearoa New Zealand is also hindered by traditional financial reporting frameworks.

As New Zealand’s standard setter, we want to respond to this by developing a reporting framework that will increase transparency and provide entities with a consistent and comparable way of reporting non-financial matters.

A non-financial reporting framework has the potential to create immense value for reporting entities and their shareholders. This includes:

  • Increased trust and transparency
  • Better information for decision-making and/or allocating resources
  • Attracting investment
  • Maintaining a social license to operate

Who will the framework be used by 

The XRB intends for this framework to be available for all entities in Aotearoa New Zealand to voluntarily adopt and apply.

Developing the framework - an evolution not a revolution? 

There are no preconceived ideas of what this framework will look like. Because many Māori organisations already apply an intergenerational lens to their strategy and operations, development of the framework will initially be informed through a series of wānanga with Māori reporting entities.  The mahi will be highly explorative and collaborative and will ultimately include input from a range of Māori and non-Māori reporting entities and stakeholders across Aotearoa New Zealand. 

Given the size and complexity of this Project, Ngā pou o te kawa ora will be at least a two-stage approach.

Stage 1–will run a due process to develop a draft principles-based framework drawing on insights from Māori reporting entities to inform the development of the Framework.

Stage 2-will take the draft Framework as a base and then determine whether any amendments or further guidance are needed for application to other New Zealand reporting entities in different sectors such as the for-profit, not-for-profit, or public sectors.

Project timeline 

Given the size and complexity of this Project, Ngā pou o te kawa ora will be undertaken in (at least)t two stages.

  • Stage 1– Will run a due process to develop a draft principles-based framework drawing on insights from Māori reporting entities to inform the development of the Framework.
  • Stage 2- Will take the draft Framework as a base and then determine whether any amendments or further guidance are needed for application to other New Zealand reporting entities in different sectors –such as the for-profit, not-for-profit, or public sectors.

Wānanga will be held beginning in September 2022 and continuing through to April 2023. We aim to develop the framework for initial testing by mid-2023.  

Contact details 

Email: sustainability@xrb.govt.nz