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Financial Markets Conduct Act 2013

Climate-related disclosures for certain FMC reporting entities with higher level of public accountability - Preparation of climate statements - Climate statements of climate reporting entities

461ZA: Group climate statements must be prepared

You could also call this:

"Big companies must write reports on how they affect the climate."

Illustration for Financial Markets Conduct Act 2013

If you are a climate reporting entity with one or more subsidiaries, you must prepare group climate statements. You have four months after your balance date to complete these statements, which must follow the climate-related disclosure framework. You must date and sign these statements on behalf of your entity, and this must be done by two of your directors, or one director if you only have one.

When you prepare your group climate statements, you must make sure they are completed in relation to your group and balance date. Your statements must also be dated and signed by your directors.

If you are an overseas climate reporting entity, you do not have to prepare group climate statements unless you are also a climate reporting entity under section 461O(1)(a). You are also exempt if you are only a climate reporting entity under section 461O(2).

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS775338.

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461Z: Climate statements must be prepared, or

"Big companies must write a report about how they affect the climate."

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461ZB: Climate statements for overseas climate reporting entities, or

"Overseas companies must report on their New Zealand climate impact"

Part 7AClimate-related disclosures for certain FMC reporting entities with higher level of public accountability
Preparation of climate statements: Climate statements of climate reporting entities

461ZAGroup climate statements must be prepared

  1. Subsection (2) applies to every climate reporting entity in relation to a balance date of the entity if the entity has, on that balance date, 1 or more subsidiaries.

  2. The climate reporting entity must ensure that, within 4 months after that balance date, group climate statements that comply with the climate-related disclosure framework are—

  3. completed in relation to the group and that balance date; and
    1. dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

      1. However, subsection (2) does not apply to—

      2. an overseas climate reporting entity, unless it is a climate reporting entity under section 461O(1)(a); or
        1. a person that is a climate reporting entity only under section 461O(2).

          Notes
          • Section 461ZA: inserted, on , by section 8 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).