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In this webcast we explore the implications of ASRS for New Zealand companies and prepare for climate-related reporting to consider multiple reporting standards.
In Australia, September 2024, the Corporations Act 2001 was amended to introduce a requirement for a range of Australian incorporated companies to prepare climate-related disclosures in accordance with the Australian Sustainability Reporting Standard (ASRS).
This sounds like familiar ground to many New Zealand organisations who are currently in their second mandatory reporting period. The Australian legislation will significantly impact New Zealand companies, especially in terms of climate reporting under the New Zealand Climate Standards (NZCS).
Key implications include:
- Australian subsidiaries of New Zealand companies are likely to have reporting obligations under ASRS and will need to produce a report under both standards, aiming to streamline their reporting processes.
- Some New Zealand companies may align their reporting with both NZ CS and ASRS, including adopting similar GHG emissions reporting standards and assurance practices.
- The NZ CS may evolve to align more closely with ASRS and the International Sustainability Standard Board’s IFRS S2 standard as global climate reporting frameworks develop.
Our panel discuss strategies for efficient climate-related reporting across multiple standards.
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