In September, New Zealand announced that it will be the first country in the world to require the financial sector to make annual disclosures on their climate risk exposure and management.
Around 200 organisations will be required to meet the new requirements by 2023.
Award judge and chair of the International Integrated Reporting Council’s governance and nominations committee, Jane Diplock AO says: “Integrated reporting enables business leaders and investors to better understand and respond to climate change, resource constraints and other issues requiring forward-looking thinking and planning, by explaining how the entity’s business model adds value over the long, medium and short term.
“These awards recognise organisations who have developed their strategy, governance, performance and prospects to create sustained and sustainable value.”
The finalists in the “for-profit” category of the awards are: Sanford, Meridian Energy, Mercury Energy, PaySauce, SkyCity Entertainment Group, Z Energy, Ravensdown, Moana New Zealand and Port of Tauranga.
The finalists in the “public sector” category are: Kāinga Ora – Homes and Communities (formerly Housing New Zealand), Landcorp, Watercare and Auckland Council.
Diplock says, “The quality reporting by these finalists puts them among a global elite of businesses endeavouring to bring greater value to the reporting process.”
CPA New Zealand country manager Rick Jones says corporate reporting is evolving, “These changes will require a significant adjustment in the way companies account for resources and the impacts of business activities.”
Jones says that “the good news for New Zealand is that we are ahead of many of our global competitors in incorporating integrated reporting into governance, management and finance structures”.
Award winners will be announced at an online “virtual” ceremony on Tuesday 20 October.
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