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14 March 2023

Consultation: Proposed exemptions for foreign listed issuers from climate reporting duties

Final date for submissions 5pm, 17 April 2023
Consultation paper Proposed exemptions for foreign listed issuers from climate reporting duties  
Submission form Foreign listed issuers CRD exemptions feedback form 
Email for submission  [email protected] - please use the title of the consultation paper in the subject line   

In October 2021 the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act (CRD Act) was enacted. The CRD Act amended the Financial Markets Conduct Act 2013 (FMC Act) by including a new Part 7A entitled “Climate-related disclosures for certain FMC reporting entities with higher level of public accountability”.  

Read more about the new climate-related disclosures regime

We are considering exemptions to provide relief from the climate reporting duties under Part 7A of the FMC Act for foreign exempt issuers without significant business operations or investments in New Zealand.  

We are also considering a class exemption for all other foreign exempt issuers from climate reporting duties for their overseas businesses providing they report on their New Zealand business or, if that business is operated via a locally incorporated company which is a Climate Reporting Entity (CRE), that company reports on the New Zealand business.