Mandatory climate disclosures for financial institutions to be unveiled in New Zealand

New Zealand has become the first country globally to pass laws requiring banks, insurers and investment managers to disclose the impact of climate change on their companies.

Introduction to TCFD recommendations

Visit our website: https://www.cdsb.net/

– Introduction to climate-related disclosures – starting your climate journey
– Understanding the recommendations of the TCFD
– Embedding climate change into financial management – climate-related reporting for accountants.
– Corporate reporting of climate and environmental matters in the European Union
– Governance of climate-related risks and opportunities
– An introduction to managing the financial risks from climate change

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Visit the TCFD Hub: https://www.tcfdhub.org/
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What is TCFD (Task Force on Climate-Related Financial Disclosures)? | Q&A

Back in November 2020, the UK Government announced its intention to make the Task Force on Climate-related Financial Disclosures (TCFD) mandatory by 2025.

However, it will probably be mandatory by 2022 to the largest publicly quoted companies. The TCFD consists of a set of disclosures indicating a company’s preparedness for the inevitable impact of Climate Change.

Watch the video to find out more!

Link to PLATO:
https://www.enistic.com/plato-2/

Link to Enistic website:
https://www.ensitic.com

Climate-related disclosure regime; overview and impacts

4 May 2022, webinar
Presenters:
Dr Amelia Sharman; External Reporting Board (XRB)
Erica Miles; West Nine Consulting Limited
Craig Styris; Pioneer Capital
Dean Spicer, CFA; ANZ New Zealand Limited

Co-hosted by CFA Society NZ and NZ Private Capital

CDSB roundtable on UK mandatory climate related financial disclosures

UK’s consultation on Mandatory climate-related financial disclosures by publicly quoted companies, large private companies and LLPs: https://www.gov.uk/government/consultations/mandatory-climate-related-financial-disclosures-by-publicly-quoted-companies-large-private-companies-and-llps

The draft requirements issued by the UK Department for Business, Energy & Industrial Strategy (BEIS) cover:

All UK companies that are currently required to produce a non-financial information statement, being UK companies that have more than 500 employees and have transferable securities admitted to trading on a UK regulated market, banking companies or insurance companies (Relevant Public Interest Entities (PIEs);
UK registered companies with securities admitted to AIM with more than 500 employees;
UK registered companies which are not included in the categories above, which have more than 500 employees and a turnover of more than £500m; and LLPs which have more than 500 employees and a turnover of more than £500m.
A key element of the proposal is to evolve existing requirements to align the with the TCFD, rather than to create new requirements.

In total, it is expected that around 1600 companies will be required to implement the TCFD recommendations, starting with financial years on or after 6 April 2022.

Moderator: Mardi McBrien, Managing Director, CDSB

Introduction to the proposals: Ben Fagan-Watson, Senior Policy Officer – Department of Business, Energy and Industrial Strategy (BEIS)

Panellists:

Bridget Beals, Partner, Co-Head of Climate Risk and Decarbonization Strategy, KPMG
Daniel Wiseman, Lawyer (Australian qualified), ClientEarth
Michael Zimonyi, Policy & External Affairs Director, CDSB