Assurance over climate-related disclosures: occupational regulation and expanding the scope of assurance

Submissions closed: 10 February 2023, 5pm

The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 introduces a new climate-related disclosures regime in New Zealand.

The Act imposes obligations on large financial market participants to disclose information about their climate-related risks and opportunities in annual climate statements. It also requires that disclosures in the climate statements regarding greenhouse gas emissions must be independently assured. No other disclosures need to be assured.

The Ministry of Business, Innovation and Employment (MBIE) and the Ministry for the Environment (MfE) are seeking feedback on a consultation document that considers two issues related to the assurance requirement in the climate-related disclosures regime:

  • Whether we should introduce an occupational licensing regime for the individuals assuring the climate statements.
  • Whether we should extend the scope of the assurance requirement from the current obligation to assure greenhouse gas emissions disclosures only, to assurance over all disclosures in the climate statement.

The feedback from this consultation will help to inform advice to Ministers on these two issues.

Assurance over climate-related disclosures: occupational regulation and expanding the scope of assurance

View the web version of the Assurance over climate-related disclosures consultation document

Use of information

The information provided in submissions will be used to inform MBIE and MfE’s policy development process and will inform advice to Ministers. We may contact submitters directly if we require clarification of any matters in submissions.

Release of information

MBIE intends to upload PDF copies of submissions received to MBIE’s website. MBIE will consider you to have consented to uploading by making a submission, unless you clearly specify otherwise in your submission.

Ministry of Business, Innovation & Employment

If your submission contains any information that is confidential or you otherwise wish us not to publish, please:

  • indicate this on the front of the submission, with any confidential information clearly marked within the text
  • provide a separate version excluding the relevant information for publication on our website.

Submissions also remain subject to request under the Official Information Act 1982. Please set out clearly in the cover letter or e-mail accompanying your submission if you have any objection to the release of any information in the submission, and in particular, which parts you consider should be withheld, together with the reasons for withholding the information. MBIE will take such objections into account and will consult with submitters when responding to requests under the Official Information Act 1982.

Private information

The Privacy Act 2020 establishes certain principles with respect to the collection, use and disclosure of information about individuals by various agencies, including MBIE and MfE. Any personal information you supply to MBIE and MfE as part of the submission will only be used for the purpose of assisting in the development of policy advice in relation to this consultation. Please clearly indicate in the cover letter or e-mail accompanying your submission if you do not wish your name, or any other personal information, to be included in any summary of submissions that MBIE may publish.