Director lens on disclosures

Overview

Recording date - 26 May 2022

This webinar, hosted by Chapter Zero and the External Reporting Board, discussed disclosures from a director’s perspective.

The External Reporting Board (XRB) is the independent Crown entity responsible for developing and implementing accounting, audit and assurance, and climate standards for Aotearoa New Zealand.

In 2020, the Government announced its intention to implement mandatory reporting on climate risks and tasked the XRB with developing disclosure standards to support the new reporting regime. Climate-related disclosures will be mandatory for large listed companies with a market capitalisation of more than $60 million; large licensed insurers, registered banks, credit unions, building societies and managers of investment schemes with more than $1 billion in assets; and some Crown financial institutions (via letters of expectation).

The disclosures are based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) in the four key areas of Governance, Risk Management, Strategy, and Metrics and Targets. The XRB have consulted on the disclosures in two tranches, both of which are informing the final exposure draft that is intended to be released for consultation in July this year.

This session will provide attendees with:

• • an overview of the climate-related disclosures framework;
  • a deep dive on the Strategy and Metrics and Targets disclosures, and key themes emerging  from the recent consultation; and  
  • key considerations and practical application tips when making climate-related disclosures, shared by your peers 

The session included extensive Q&A. For the responses, please refer to the on-demand recording.

These insights are intended as a broad summary of the topics discussed in the webinar and not direct quotes from the panellists.