2021 Business Links Seminars and Webinars
Access information and recordings from the 2021 Business Links Seminar and Webinar series.
Climate-related disclosures consultation on governance and risk management
27 October 2021
At this webinar, held by the External Reporting Board (XRB) and the Centre for Accounting Governance, and Taxation Research (CAGTR), April Mackenzie, Chief Executive XRB and Dr Amelia Sharman, Director Climate Standards XRB, discussed the recently issued Consultation Document on reporting on Governance and Risk Management in respect of climate risk, and addressed the key question on which the XRB is seeking feedback.
New Zealand is moving business to mandatory reporting on climate risks and the XRB has been tasked with developing disclosure standards to support this new regime.
These standards will be based on the recommendations of the Task Force on Climate-related Financial Disclosures and are being consulted on in three stages – the first focussing on Governance and Risk Management.
In this webinar, April Mackenzie, Chief Executive of the XRB, and Dr Amelia Sharman, Director of Climate Standards for the XRB, explain the proposals for reporting on Governance and Risk Management in respect of climate risk and address the key questions on which the XRB is seeking feedback.
Climate risk disclosure and materiality: Two pressing problems
21 October 2021
This webinar, held by the Centre for Accounting Governance, and Taxation Research (CAGTR) and presented by Professor Paul Griffin discussed the pressing problems for mandatory climate risk disclosure for corporations.
As countries move ahead on mandatory climate risk disclosure for corporations, two pressing problems remain unresolved: countries reflect widely differing corporate governance systems that would implement an effective global mandate, and regulators offer no clear guidance on why the required information is material to stakeholders. Building on his current research, Professor Griffin stated the case for urgent action on these two issues.
Mandatory disclosure of climate-related risks and opportunities
13 May 2021
This webinar, held jointly by the XRB and CAGTR, discussed the Financial Sector (Climate –related Disclosure And Other matters) Amendment Bill which is open for written submissions to 28 May 2021.
The Bill requires Climate Reporting Entities (listed companies and large financial institutions) to prepare Climate Statements that comply with Climate Standards to be issued by the XRB. The standards will reflect the framework proposed by the Task Force on Climate-related Financial Disclosures and the Bill also provides for the XRB to issue non-binding guidance on ESG and other non-financial matters.
The Climate Statement will require assurance to the extent that there are disclosures on greenhouse gas emissions. The new regime will be monitored by the FMA and non-compliance can have severe consequences.
In this webinar, Sanel Tomlinson (XRB) chaired a panel discussion with Lucas Kengmana (Guardians of NZ Superannuation) giving a preparer's perspective on implementation of climate-related disclosure, Nicola Swan (Chapman Tripp) spelling out the key features of the Bill, Misha Pieters (XRB) commenting on assurance, and Sanel Tomlinson outlining the XRB’s plans for development of the climate standards and guidance.