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Climate-related disclosures in New Zealand - overview of the current state

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In April 2021, the New Zealand Government introduced a Bill to Parliament to mandate climate-related financial disclosures. It aims to support and accelerate New Zealand’s transition to a zero carbon economy. You can find more information on the details of the legislation in our recent publication Getting ready for mandatory climate-related disclosures in New Zealand. If approved by Parliament, climate-related financial disclosures may be required as early as 2023. 

In order to understand the maturity of climate risk reporting within New Zealand, PwC analysed the NZX 100. Our analysis compared climate-related disclosures within the annual and sustainability reports of the NZX 100 to the TCFD framework.

Taskforce on Climate-related Financial Disclosures - a summary 

The new reporting standards will be issued by the External Reporting Board (XRB). Exact details of the required disclosures are yet to be confirmed. However, it has been announced that the standards will be developed in line with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). 

The core elements of TCFD recommendations include: 

Disclose the company’s governance around climate-related risks and opportunities.


Disclose the actual and potential impacts of climate-related risks and opportunities on the company’s businesses, strategy and financial planning where such information is material.


Disclose how the company identified, assessed and managed climate-related risks.


Metrics and targets

Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material.


“These disclosures should not be seen as a burden but as an opportunity to identify ways to manage risks posed by climate-change and seek new opportunities for growth.”

How ready is New Zealand for mandatory disclosures?

of all annual and/or sustainability reports mention the TCFD recommendations.
of the 15 companies with TCFD disclosures had limited assurance.
companies disclosed at least scope 1 of their GHG emissions.

How we can help

Sustainability and Climate Change Team

PwC partners with organisations to provide a long-term holistic view and embed sustainability objectives across business strategies. Helping public and private organisations to stay ahead of the game while also supporting their licence to operate, PwC is focused on creating a sustainable and environmentally responsible country for all. With deep expertise, broad capabilities and a fully integrated service, PwC addresses challenges with the most sustainable, effective and efficient business solutions. 

PwC’s TCFD diagnostic tool will support you to understand how your existing public disclosures, processes and policies align with the TCFD recommendations and where priority areas to address might lie.


Assurance Team

We provide assurance over climate-related qualitative and quantitative disclosures. Our role is to provide your stakeholders with trust and confidence over the reliability of the information you are communicating to them.

Related content

Contact us

Sustainability and Climate Change team

Annabell Chartres

Partner, Sustainability & Climate Change Leader, Auckland, PwC New Zealand

+64 21 799 927


Andrew Jamieson

Partner, Strategy & ESG Leader, Auckland, PwC New Zealand

+64 21 711 641


Pamela Tindall

Director, Sustainability & Climate Change, PwC New Zealand

+64 27 301 9766


Assurance team

Jonathan Skilton

Partner, Auckland, PwC New Zealand

+64 21 355 879


Chris Ussher

Partner, Wellington, PwC New Zealand

+64 21 840 106


Andrew Scott

Director, PwC New Zealand

+64 21 917 185


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