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Aotearoa New Zealand Climate Standard 2: Adoption of Climate-related Disclosures (NZ CS 2)

New Zealand Forthcoming 2021

NZ CS 2 will be an adoption standard to enable entities to begin their climate-related disclosure journey. It will be drafted by the External Reporting Board, who have been tasked with this by the New Zealand Government.

Scope

Climate

Issuer name

External Reporting Board (New Zealand)

More information

Subject to parliamentary approval, these entities could be required to make disclosures alongside wider year end reporting in 2023 at the earliest.

Organizations covered by the instrument

Large private and listed companies

Target organization notes

Climate-related disclosures will be mandatory for large listed companies with a market capitalisation of more than $60 million; large licensed insurers, registered banks, credit unions, building societies and managers of investment schemes with more than $1 billion in assets; and some Crown financial institutions (via letters of expectation).

Industry scope

All/none specified

ESG coverage - E (Environment)

Climate & GHG emissions

Status

Forthcoming

Country

New Zealand

Region

Asia Pacific

Date of publication

2021

Issuer type

Financial Market Regulators

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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