The New Zealand External Reporting Board (XRB) consulted on phasing in requirements for companies to disclose and obtain assurance over their Scope 3 greenhouse gas emissions, and to disclose anticipated financial effects of climate risks, by two additional reporting periods.
Our response suggests against this phase-in for anticipated financial effects, given investors need to understand the financial implications of climate-related risks and opportunities. We also recommend that the phase-in related to Scope 3 emissions is shortened to one year – to balance investor demand for this information with the need for further capacity building to ensure it is of sufficient quality.
Read the response in full below.
