New Zealand stakeholders back alignment – without the whiplash
New Zealand’s External Reporting Board (XRB) has published feedback on its April–June request for information about international alignment of climate disclosures.
The verdict from 84 submissions: align with the world, particularly IFRS S2 and Australia’s AASB S2, but keep changes stable and phased.
Most respondents said now is not the moment to overhaul or revoke the NZ Climate Standards. Instead, they want targeted adjustments and interoperability, especially on scenarios, transition plans, anticipated financial effects, and the timing/assurance of Scope 3. Smaller entities flagged burden and asked for proportionality and differential reporting.
Investors and advisers pushed for global comparability, while issuers raised concerns about the complexity of Scope 3 emissions reporting and the high cost of mandatory assurance. There was also notable support for digitisation, with Inline XBRL seen as key to making data usable and investor-ready.
Taken together, the message is pragmatic: international alignment, yes; stability and a measured timetable, essential; and wherever possible, cutting the risk of duplication.
Read the XRB summary here.
