The External Reporting Board (XRB) called for submissions on their third and final Climate-related Disclosures consultation.
CA ANZ continues to be an advocate for, and supporter of, appropriate climate-related financial disclosures and reporting for decision-making. Better disclosure will facilitate more informed decision making, while enabling market forces to drive efficient allocation of capital and support a smooth and just transition to a net zero greenhouse gas emissions economy.
We support the XRB developing climate reporting standards for New Zealand, and its work to ensure that these standards align with international developments. We continue to support the principles-based and forward-looking approach that the XRB is taking in developing the standards. In particular, we support the close alignment to the recommendations of the Taskforce for Climate-related Financial Disclosures (TCFD), as well as the climate and sustainability-related disclosure standards that the International Sustainability Standards Board (ISSB) has recently consulted on.
Global capital markets will expect entities to provide disclosures in line with ISSB standards and therefore it will be critical that the standards being developed by the XRB meet this global baseline at a minimum. On this basis, we support and encourage the XRB's ongoing engagement with the ISSB.
Our responses to the specific questions raised in the consultation document can be found in the submission below.
About the consultation
Find out about the three parts of the consultation and the next steps.Find out more