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Financial Reporting Act 2013

External Reporting Board, standards, and provisions that apply to other enactments - Standards - Climate standards

19B: Purpose of climate standards and climate-related disclosures

You could also call this:

"Helping companies tell people how climate change affects their work"

Illustration for Financial Reporting Act 2013

The purpose of climate standards is to help companies tell people about how climate change might affect them. You want companies to think about how climate change could affect their work, both now and in the future. This helps companies show what they are doing to deal with climate change, and it also helps people who invest in companies to see if they are doing a good job of handling climate change risks.

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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=LMS592170.

Topics:
Environment and resources > Climate and energyMoney and consumer rights > Consumer protectionBusiness > Industry rules
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19A: Guidance for purposes of non-financial reporting, or

"Help with reporting things that aren't about money"

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19C: Climate standards, or

"Rules about what companies must report on climate change"

Part 2External Reporting Board, standards, and provisions that apply to other enactments
Standards: Climate standards

19BPurpose of climate standards and climate-related disclosures

  1. The purpose of climate standards is to provide for, or promote, climate-related disclosures, in order to—

  2. encourage entities to routinely consider the short-, medium-, and long-term risks and opportunities that climate change presents for the activities of the entity or the entity’s group; and
    1. enable entities to show how they are considering those risks and opportunities; and
      1. enable investors and other stakeholders to assess the merits of how entities are considering those risks and opportunities.

        Notes
        • Section 19B: inserted, on , by section 40 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).