The New Zealand Financial Markets Authority has extended its no action approach for affected climate reporting entities across all requirements under Part 7A of the Financial Markets Conduct Act. The relief covers the first five 2026-2027 reporting periods with balance dates from March 31, 2027, through Jan. 31, 2028, while the future scope of the climate reporting regime remains uncertain. The affected entities are listed issuers with market capitalization below NZD 1 billion, investment scheme managers, and health and life insurers that the government had proposed removing from the regime. The legislation needed to make those changes did not pass before Parliament’s final sitting ahead of the November election. The relief does not extend to the reporting period with a March 31, 2028, balance date. If the incoming government proceeds with the proposed changes, the authority may provide further relief based on the reform timetable. If the legislation does not proceed, it will support a transition back to reporting and recognize that entities may be unable to provide comparative information for the previous reporting year. The no action position means the authority will not pursue breaches covered by the relief, but it does not prevent third parties from taking legal action.
Source: 2026-09-29New Zealand Financial Markets Authority
New Zealand Financial Markets Authority extends climate reporting no action relief for five reporting periods
The New Zealand Financial Markets Authority has extended no action relief from climate reporting requirements for five reporting periods with balance dates from March 31, 2027, through Jan. 31, 2028. The measure covers entities that the government had proposed removing from the regime after the required legislation failed to pass before the election.