Company Climate Risk
Comprehensive climate risk intelligence for informed decision-making
New Zealand
Mandatory from 2024XRB Climate-related Disclosure Standards (NZ CS1-CS3)
New Zealand's Climate-related Disclosure Standards (NZ CS1-CS3), developed by the External Reporting Board (XRB), introduce the world's first fully mandatory climate disclosure regime aligned with ISSB S2 and TCFD. From FY2024, all designated “climate reporting entities” must disclose governance, strategy, risk management, metrics, and targets on climate-related risks and opportunities, including financed emissions. The framework captures both transition risks (e.g., agricultural policy, carbon markets) and physical risks (e.g., flooding, sea-level rise, storm events), ensuring investors can assess portfolio resilience in a carbon-constrained future.
Key Requirements
- •Governance, strategy, and risk management disclosures aligned with ISSB S2 / TCFD
- •Transition and physical climate risk disclosure across short-, medium-, and long-term horizons
- •Mandatory GHG reporting, including Scope 3 financed emissions for banks and fund managers (PCAF or equivalent)
- •Portfolio-level metrics, including gross vs net factors, domestic vs offshore split
- •Scenario analysis using NGFS pathways and NZ Ministry for the Environment long-term low-emissions scenarios
- •Disclosure of climate opportunities (green lending, transition finance)
- •Annual Climate Statement lodged alongside financial reports
Implementation Timeline
Report Timing
Annual, aligned with the entity's financial year. Climate Statements must be filed within 4 months of the year-end.
Compliance Status
Mandatory from 2024Track your progress towards meeting the requirements and deadlines for this regulation.