Our latest publication continues our investigation into NZX50 companies and their journey to prepare for the adoption of the Aotearoa New Zealand Climate Standards (NZ CS). It follows our earlier analysis of March, June and December 2022 and March 2023 reporters.
In this latest version, we revisit NZX50 June-September reporters to see how, and what, they are reporting this year. Once again, our focus is on how climate-related risks and impacts on the financial statements were disclosed and how auditors considered climate-related impacts in key audit matters (KAMs).
This report includes reviews of companies from a variety of industries, many in sectors that are likely to be impacted by climate-related risks including several companies from the industrials, utilities, real estate and financial services sectors.
Key findings
30 (2022: 28) businesses on the NZX50 with 30 June-30 September year ends have completed their financial reporting.
15 (2022: 9) reporters discussed the impact of climate-related risks in their financial statements.
29 (2022: 24) reporters published climate-related disclosures outside the financial statements.
8 (2022: 0) reporters voluntarily early adopted or (without stating full compliance) reported ‘in line with’ or ‘with reference to’ the Aotearoa New Zealand Climate Standards.
8 (2022: 8) businesses disclosed the use of green finance.
4 (2022: 3) audit reports mentioned climate change in KAMs.
14 businesses discussed the recent extreme weather events (four in the financial statements and 10 outside of the financial statements in the annual report).
4 businesses quantified the impacts of the recent extreme weather events (three in the financial statements and one outside of the financial statements in the annual report).
Contact us
Partner, Sustainability Reporting & Assurance Leader, PwC New Zealand
Tel: +64 21 355 879
