The New Zealand Financial Markets Authority has published its 2026 Climate-related Disclosures Insights Report, reviewing 62 climate statements from the second year of New Zealand’s mandatory climate-related disclosure regime. It finds that climate reporting entities are moving from initial implementation toward more mature reporting, with clearer report structures, better greenhouse gas emissions disclosures, stronger explanations of governance and risk management, and greater recognition of material business risks linked to climate change. The report also highlights areas where disclosures need to become more decision-useful. It calls for more specific physical risk disclosures, including clearer explanation of how climate hazards translate into risks and which assets, operations or activities are exposed. It also points to the need for stronger data and analysis underpinning physical risk assessments, clearer articulation of anticipated impacts linked to well-defined material risks, better distinction between risks and impacts, stronger links between identified risks and transition planning, and more complete greenhouse gas assurance disclosures, including compliance with assurance standards and transparency over what has been assured. The Financial Markets Authority said it will continue to monitor disclosures through an educative and constructive approach, supported by engagement with entities and increased education, including further support on physical risks.
New Zealand Financial Markets Authority2026-05-26
New Zealand Financial Markets Authority identifies climate disclosure progress and gaps in review of 62 mandatory statements
The New Zealand Financial Markets Authority’s 2026 Climate-related Disclosures Insights Report reviews 62 climate statements from the second year of the mandatory regime, noting more mature reporting, clearer structures, improved greenhouse gas disclosures, and stronger governance and risk explanations. It calls for more decision-useful physical risk disclosures, stronger data and analysis, clearer links between risks and transition planning, and more complete greenhouse gas assurance. The authority will continue monitoring with an educative approach, including further engagement and support on physical risks.