TCFD's & Climate Scenarios for our sector

New reporting requirements for climate-related disclosures are coming into force. This means some organisations will be required to make climate statements outlining the potential effect of climate change on their business. For others, it’s an opportunity to build capacity for future compliance and support board, governance committees and management to better understand climate risks as they relate to their business,

But this is more than a compliance exercise. It’s refreshing to hear members actively using this opportunity to better understand how scenario analysis can focus their teams on planning for climate risk, building strategies and capacity, and improving reporting for better decision making.

Te Kāwai Ārahi Pūrongo Mōwaho, the External Reporting Board (XRB), has been tasked to develop climate disclosure standards for the New Zealand market. The NZ Green Building Council has been selected to create a programme of work for the construction and property sectors.

With thanks to a range of industry organisations, we’ve been working to provide guidance on climate scenarios.