About 40 per cent of NZX companies are disclosing climate-related risks in their financial statements. Photo / 123RF
By RNZ
About 40 per cent of NZX companies are disclosing climate-related risks in their financial statements, which is just better than the global rate of three out of 10 companies.
A joint study by accounting body Chartered Accountants Australia and New Zealand (CA ANZ), the
University of Queensland and the University of Melbourne indicates the number of New Zealand companies with climate risk disclosures nearly doubled in the past year from 22 per cent, and was expected to continue to increase.
“Climate risks are impacting companies’ disclosures concerning asset valuations, impairment testing, financial risks and provisions,” Chartered Accountants leader Amir Ghandar said.
“As you would expect, emissions-intensive industry sectors such as energy and utilities have a larger proportion of companies impacted, but we’re also seeing sectors such as consumer staples and financials calling out climate risks as a key financial consideration.”
