Capital markets changes to boost business growth

The moves are aimed at boosting business growth and are the latest steps in the Government’s programme of capital markets reforms.

Changes to climate reporting

Under the climate-related disclosures (CRD) regime, businesses over a certain size have to report annually on their climate-related risks and opportunities. The first reports were published in 2024.

• The mandatory climate reporting threshold for listed companies increases from $60 million market capitalisation to $1 billion.
• New Zealand’s largest companies will continue to report on their climate risks; smaller businesses will no longer be required to do so.
• Managed investment scheme (MIS) managers will be removed.
• CRD reporting entities reduce from around 164 to 76, with 66 listed companies and 22 MIS managers exiting the regime.

Legislation introducing the changes, including updated liability settings, is expected to be passed in 2026.

Today’s announcement follows consultation earlier this year on measures aimed at supporting New Zealand’s capital markets. This included proposals to encourage more investment by KiwiSaver providers in private (unlisted) assets.

New asset disclosure categories

The Government is introducing new asset disclosure categories to improve the visibility of private asset investment by managed funds. Assets held by managed funds, including KiwiSaver, must be listed on the Companies Office’s Disclose Register.

From March 2027, fund managers will need to include whether the asset is in New Zealand or overseas and what asset class it falls into – for example, debt, infrastructure, unlisted equities. Investors and funds will gain more information over which funds invest in private assets and how these are performing over time.

Forward-looking financials

Another capital markets change took effect in June 2025 and made it voluntary for a business making an initial public offering to provide prospective financial information, substantially reducing listing costs.

Further information

Read the Government’s announcement:

Commonsense changes to boost capital markets(external link) – beehive.govt.nz

Read more about capital markets reforms:

2024-25 Capital Markets Reforms