SLR submits response on the future of climate reporting in Aotearoa New Zealand

New Zealand’s reporting standard setter is consulting on a strategic roadmap that would replace New Zealand's climate standards with a new framework based primarily on IFRS S2.

SLR supports that direction, but we believe the transition should be faster, simpler and grounded in New Zealand's experience to date.

Using IFRS S2 as the foundation for future climate reporting can improve comparability, reduce duplication and better support reporting entities operating across international markets. However, our central recommendation is to avoid a prolonged transition, and adopt a New Zealand IFRS S2 standard from 1 January 2028.

Climate-related risks are already affecting New Zealand businesses, and a lengthy transition could delay the information primary users, investors and other stakeholders need (and are expecting from global experience) to make informed decisions.

We also support retaining key strengths of the current standards, including industry-based metrics and a robust approach to scenario analysis that considers both a 1.5°C future and higher-warming outcomes.

At its core, our submission argues that New Zealand should move more quickly toward an internationally aligned climate reporting framework while preserving the elements of the current standards that have proven valuable in practice.

Read our full submission, including detailed responses to the consultation questions.