More certainty on climate reporting requirements

The FSC welcomes the decision by the Financial Markets Authority to extend its no-action relief for health and life insurers and fund managers expected to be removed from New Zealand's mandatory climate reporting regime

The decision provides greater certainty for affected entities while the future of the proposed climate reporting changes awaits consideration by the next Government and Parliament. 

“This is a welcome and pragmatic decision that gives affected entities greater certainty until the legislation is passed,” says Kirk Hope, FSC Chief Executive.

“The FSC has consistently advocated to Government, officials and regulators on the need for a more proportionate approach to climate reporting, and we're pleased to see that reflected in both the proposed reforms and the FMA's decision to extend relief.

“Most importantly, this provides certainty for affected entities while the legislative process catches up.

“We'll continue working with the next Government to ensure these changes are given legislative effect.”

Earlier this year, the Government announced plans to remove managed funds, health and life insurers from the climate reporting regime, a change strongly advocated for by the FSC.

The FMA has published a guidance table relating to reporting periods until 2028, we encourage members to review their guidance which can be found here.

Ends