New Zealand’s Climate Disclosures: Updates Could Continue Leadership.

The IGCC recently made a submission in response to the New Zealand External Reporting Board (XRB) Request for Information on International Alignment of Climate Reporting.

Mandatory climate disclosures remain important to investor allocation decisions and Aotearoa New Zealand’s ongoing leadership in this area is critical given the broad adoption of climate reporting requirements in various markets in our region and globally.

The IGCC has long supported international alignment of sustainability reporting standards in both Aotearoa New Zealand and Australia. From an investor perspective, alignment with international standards is a desirable end-goal to ensure consistency and comparability of company disclosures with accepted international best practice.

Building on the existing Aotearoa New Zealand Climate Standards (NZ CS) to incorporate relevant requirements in the more detailed ISSB Standards IFRS S1 and S2 would enable Aotearoa New Zealand to remain in step with international practice while ensuring that requirements are appropriate for local reporting entities and that they retain a focus on the objective of the standards, ‘to support the allocation of capital towards activities that are consistent with a transition to a low-emissions, climate-resilient future’.

Aotearoa New Zealand has been a frontrunner on climate reporting, and has the opportunity to leverage this leadership position to promote the country as an attractive destination for increasingly climate-aware global capital.

Download the submission