The guidance sets out principles and the FMA’s expectations on CREs for creating, keeping, and maintaining records that prove climate statements comply with the Financial Markets Conduct Act (FMCA) and the Aotearoa New Zealand Climate Standards framework.
The FMA is responsible for monitoring and enforcing the Climate Related Disclosures (CRD) regime.
The FMA received 13 submissions from a range of stakeholders during the formal consultation.
FMA climate related disclosures manager Jenika Phipps says there were several amendment based on the feedback and most submitters supported the FMA’s overall approach.
The purposes of climate standards, as set out in the Financial Reporting Act are to provide for, or promote, climate-related disclosures, to:
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