Climate Reporting Compliance for New Zealand Enterprises
Expert guidance on the XRB Climate Standards and mandatory disclosure requirements
15+
Markets
1,000+
Integrations
CSIRO
Backed AI
$473B+
Data Analysed
Regulatory requirements
Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021
New Zealand was the first country to mandate climate-related financial disclosures, requiring around 200 large financial institutions and listed issuers to report in line with the XRB Climate Standards. The framework builds on TCFD recommendations and is overseen by the External Reporting Board (XRB).
Who must report
Large listed issuers, registered banks with total assets exceeding NZD 1 billion, licensed insurers with gross premium income exceeding NZD 250 million, and managers of investment schemes with total assets exceeding NZD 1 billion. Approximately 200 entities in scope.
Penalties
Fines up to NZD 500,000 for failure to make required disclosures. Directors may face personal liability. FMA has enforcement powers including censure, compliance orders, and civil proceedings.
Frameworks
Key compliance deadlines
Amendment Act enacted
The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 passed into law, making New Zealand the first country to legislate mandatory climate disclosures.
XRB Climate Standards issued
The External Reporting Board issued NZ CS 1, NZ CS 2, and NZ CS 3, providing detailed requirements for governance, strategy, risk management, and metrics and targets.
Mandatory reporting commences
Climate-related disclosures became mandatory for financial years starting on or after 1 January 2023 for all entities in scope.
First disclosures published
The first round of mandatory climate statements were published, setting a benchmark for future reporting in New Zealand.
Standards review underway
The XRB commenced a post-implementation review of the Climate Standards to assess effectiveness and consider alignment with ISSB.
How Avarni helps you comply
Enterprise-grade carbon accounting software designed for complex organisations and strict regulatory requirements.
Scope 1, 2 & 3 Emissions
Comprehensive emissions calculation across your entire value chain, with AI-driven factor selection.
Framework Reporting
Generate reports aligned to TCFD, ISSB, CSRD, ESRS, and local regulatory frameworks.
Audit-Ready Outputs
Produce assurance-grade reports that satisfy auditor requirements and regulatory scrutiny.
1,000+ Integrations
Connect with your existing ERP, accounting, and procurement systems including Oracle, SAP, and Workday.
AI-Powered Analysis
CSIRO-backed AI engine automatically categorises and calculates emissions from complex datasets.
Real-Time Dashboard
Track your progress with live emissions data, compliance status, and supplier mapping.
Our New Zealand presence
Office Address
Level 12, 34 Shortland Street, Auckland CBD 1010
Phone
(09) 887 3200
Our New Zealand Team
Our New Zealand team has been at the forefront of climate disclosure since the Amendment Act was first introduced, supporting financial institutions and listed issuers through every phase of compliance.
“As one of the first organisations to report under the new regime, we needed a partner who understood the XRB standards inside and out. Avarni delivered exactly that.”
James Harawira
Chief Risk Officer, Pacific Capital Partners
Get compliant before January 2023
Don't wait until the last minute. Start your New Zealand compliance journey today.
Or call us to speak with a New Zealand compliance specialist