A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

New Zealand Targets Climate Disclosure Deadline Extension

New Zealand’s Financial Markets Authority (FMA) is currently seeking feedback on a proposal to exempt certain climate reporting entities (CREs) from the requirement to include a link to their climate statements in their annual report. If approved, this exemption would waive climate reporting entities’ requirements to include their climate statements in their annual reports, and instead file them separately within four months of their balance date. The country’s Financial Markets Conduct (FMC) Act currently requires CREs to lodge their climate statements within four months after their balance date. In October 2021, New Zealand became the first country globally to pass climate reporting legislation when the FMC was amended to introduce mandatory climate-related disclosures for certain organisations. However, due to other reporting obligations, some CREs are struggling to have their climate reports ready to be included in their annual reports as they have only three months instead of the intended four-month timeframe to meet the requirements. As a result, the FMA is considering granting exemptions to address this issue. The regulator has also proposed that this relief should be available for a two-year period, recognising that the exemption is a temporary measure outlined in the consultation paper. The regulator is currently accepting feedback on the exemption proposals until 7 August, and after considering submissions the FMA will finalise its policy proposals and plans to get the exemption in place as soon as possible. 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top