Consultation: Proposed class exemption for entities incorporated in foreign jurisdictions from New Zealand climate reporting duties

December 2025 

After carefully considering submissions, the FMA has agreed in principle to grant an exemption (with conditions) for five years for climate reporting entities that are incorporated in approved foreign jurisdictions from the climate reporting duties in Part 7A of the Financial Markets Conduct Act 2013. Initially the notice will specify Australia as an approved jurisdiction, and AASB S2 as an approved standard.  
Further countries and their climate reporting standards can be added to the class exemption notice as their mandatory regimes come into force, and if the FMA is satisfied their regimes are broadly comparable to New Zealand’s CRD regime.  
We may consult with interested stakeholders on the drafting of the exemption notice that will give effect to our decision. If you would like to be added to the list of stakeholders please email your request to us.   
We aim to have a notice in place to give effect to this decision before 30 April 2026.  

September 2025 

We are considering a class exemption for some climate reporting entities incorporated in foreign jurisdictions from the climate reporting duties in Part 7A of the Financial Markets Conduct Act 2013 (FMC Act). This would apply where the foreign entity is required by its home jurisdiction laws to undertake climate reporting comparable to that required by Part 7A of the FMC Act.

If granted, the exemption would allow foreign entities to lodge their home jurisdiction climate or sustainability reports on the New Zealand Climate-related Disclosures Register. The exemption would be subject to conditions, including that the entity must make available information about its reliance on the exemption.

Read the consultation paper and have your say by 24 October 2025. 

Download Consultation: Proposed class exemption for entities incorporated in foreign jurisdictions from New Zealand climate reporting duties [PDF 396KB]