Climate-related Disclosures: Consultation on Governance and Risk Management

The External Reporting Board (XRB) is the independent Crown entity responsible for developing and implementing accounting, audit and assurance standards for Aotearoa New Zealand. In September 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). Subject to parliamentary approval, these entities could be required to make disclosures alongside wider year end reporting in 2023 at the earliest.

The disclosure standards will be based on the recommendations of the Task Force on Climate-related Financial Disclosures and are being consulted on through the three iterations – the first focused on Governance and Risk Management will be shared in this briefing.

This free session will provide attendees with:

• An summary of the TCFD and the overall objectives of the disclosure regime
• An explanation of what is proposed to be included in the Governance and Risk Management sections of the new standards and key questions the XRB are seeking feedback on; and,
• Future issues on the XRB’s agenda, such as scenario analysis and GHG accounting

This event will also provide opportunity to ask questions and provide direct feedback on the draft standards.

Link to further info..

Presenter

Michele Embling FCA, Chair of the External Reporting Board

As one of PwC’s senior audit partners and a leading expert in technical accounting, Michele led PwC New Zealand's National Assurance practice for 3 years, and on 1 October 2016, was appointed Chair of the New Zealand firm for a four-year term.

Sustainable corporate governance
As the Chair of PwC New Zealand, Michele saw her position as an opportunity to approach corporate governance with a long-term vision of sustainability. Her goal was not just to continue to promote sustainable corporate governance in terms of financial management, but to deliver a positive impact on society and the natural environment. She believes this started at the very top – in the board room – and should run through the supply chain to ensure the company meets all its commitments. View full bio...

Venue

Virtual event - A link will be sent out to you once registered.

Pricing

Free event but please register here so you can be sent the zoom link.