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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 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.
In light of the evolving Covid-19 situation, this Lunchtime Seminar will be delivered only as a webinar. The health and well-being of RiskNZ’s Members are paramount and offering the Seminar as webinar-only is the most socially conscious choice as we take measures to practice social distancing.
Lunchtime Seminars - Key Information
- Lunchtime Seminar charges are $10 for all RiskNZ members, and $15 for non-members. You can pay directly via credit card online, or an invoice will be sent to you following registration.
- Seminars commences at 12:00pm and will finish at 1:00pm.
- Webinar dial-in – Webinar information for logging in and participating in the webinar will be shared with registered participants at least one day before the seminar.