New Zealand's Climate Disclosure Rules: What You Need to Know

Summary New Zealand requires large financial market participants to publish annual climate statements against the XRB’s three climate standards, with independent assurance over GHG emissions disclosures. Reporting has been live since FY2023; GHG assurance applies to periods ending on or after 27 October 2024, and Scope 3 disclosure becomes mandatory from each entity’s fifth reporting period. 164 entities report today; the agreed NZ$1 billion listed-issuer threshold and removal of investment scheme managers will reduce the number of companies in scope by more than half, once legislation passes