RIAA's response to NZ External Reporting Body’s (XRB) Request for Information (RFI) on Climate Reporting 2025 – value of international alignment. RIAA is overall supportive on aligning the NZ CS1 with the ISSB IFRS S2 Climate-related Disclosures, acknowledging the importance of international alignment to attracting global capital. In this regard, it’s important to recognise that alignment does not require identical requirements which may not be suitable for the NZ market.
RIAA made several recommendations:
- RIAA acknowledges that the more prescriptive nature of the ISSB standards may not be fully suitable for all reporting entities or be suitable for a complete revision of the NZ CRD regime.
- RIAA supports the XRB to consider a differential reporting framework which should be anchored in materiality to support the breadth of CREs to produce relevant and quality reports without unreasonable burden.
- RIAA’s response highlights a number of factors to consider in approaching an internationally aligned differential reporting framework which can address some of the current challenges, including mutual recognition frameworks.
RIAA thanks the XRB for engaging directly with RIAA members on this consultation and the RIAA members for their contribution.
About the contributors
About the speakers
RIAA's response to NZ External Reporting Body’s (XRB) Request for Information (RFI) on Climate Reporting 2025 – value of international alignment. RIAA is overall supportive on aligning the NZ CS1 with the ISSB IFRS S2 Climate-related Disclosures, acknowledging the importance of international alignment to attracting global capital. In this regard, it’s important to recognise that alignment does not require identical requirements which may not be suitable for the NZ market.
RIAA made several recommendations:
- RIAA acknowledges that the more prescriptive nature of the ISSB standards may not be fully suitable for all reporting entities or be suitable for a complete revision of the NZ CRD regime.
- RIAA supports the XRB to consider a differential reporting framework which should be anchored in materiality to support the breadth of CREs to produce relevant and quality reports without unreasonable burden.
- RIAA’s response highlights a number of factors to consider in approaching an internationally aligned differential reporting framework which can address some of the current challenges, including mutual recognition frameworks.
RIAA thanks the XRB for engaging directly with RIAA members on this consultation and the RIAA members for their contribution.
.jpg)
