Session 1. Introductions, climate change, and CRD fundamentals.

Content overview:

The session will provide participants with an overview of the course, allow them to make introductions, and to set personal learning objectives.

The session will provide participants with an overview of climate change and the CRD Standards. 

Participants will gain an understanding of:

• The fundamentals of climate-related risks and opportunities and unpack why this is important

• why the TCFD was set up and appreciate the four elements of the CRD Standards

• to understand the evolution of the XRB’s CRD Standards

• to assess their organisation’s maturity at present

• identify the initial steps their organisation needs to take to implement the requirements of the CRD regime 

• make a start of their organisation-specific CRD Implementation Plans.

FACILITATOR:
Erica Miles, Director, West Nine Consulting

Session 2. Regulatory expectations for CRD.

Content overview:

This session will provide participants with an overview of the following:

• the FMAs role in the regime
• the FMAs regulatory approach
• record keeping monitoring approach.

Participants will learn:

• to understand the legislative requirements of the CRD regime

• the FMAs initial regulatory approach to climate-related disclosures

• what type of records the FMA would expect to be provided during monitoring reviews

• what actions the FMA can take as the regulator and what they would consider serious misconduct. 

FACILITATOR:
Jenika Phipps, Manager, Climate-related disclosures, FMA

Session 3. Governance basics.

Content overview:

The session will enable participants to understand the basics of the management governance element of the CRD Standards.

Participants will gain an understanding of:

• expectations of Boards on climate governance (including the World Economic Forum’s 11 principles of effective governance)

• expectations of Management on climate governance.

FACILITATORS:
Helen Lane, Associate Director, Sustainable Value, KPMG and Monika Wakeman, Director, Risk Advisory & Sustainability , Deloitte

Session 4. Emissions measurement and assurance…leading to Session 5. Now what?  How to develop an Emissions Reduction Plan.

Content overview:

The first session will focus on understanding the journey corporates need to undertake to measure, reduce and then verify their emissions inventory. 

In the second session, participants will learn how to develop, and test a practical, yet effective, Emissions Reduction Plan.

Participants will gain an understanding of:

• carbon footprinting – why this matters

• how to get started

• key standards used and categories of emissions, including Scopes 1, 2 and 3

• the importance of measuring and reducing supply chain emissions

• certification and assurance

• how to develop an effective, yet practical Emissions Reduction Plan

• key features of the Plan

• how Emissions Reduction Plans fit into wider
  Transition Plans.

FACILITATOR:
Markus Benter-Lynch, Strategic Advisor, Sustainability & Climate Change, Tonkin & Taylor

Session 6. The why and the how of identifying and assessing physical risks.

Content Overview

This session will provide provide an overview of what a good physical climate risk assessment entails. 

The session will cover key considerations for planning assessments, developing / agreeing scenarios, risk assessment phases and methodologies, and include a discussion around integrating assessment results into disclosures. 

Participants will gain knowledge by learning about:

• key terminology relating to physical climate risk

• the importance of agreeing and prioritising material risk areas
  

• risk assessment approaches
  

• key considerations for physicals risk (RCPs, SSPs, time horizons etc)

• to appreciate how to undertake a high-level risk screening assessment leading to a more detailed assessment

• linking scenario assessments to risk assessments

• rating risks using appropriate approaches

• identify key issues for integrating the assessment results into disclosures. 
  

FACILITATORS:

James Hughes, Technical Director, Climate and Resilience, and Alex Cartwright, Climate and Risk Consultant, Emergency Management Advisor, Tonkin & Taylor

Session 7. The climate change regulatory environment and key legal risks from climate-related disclosures.

Content Overview

This session will provide participants with:

• an understanding of the broader climate change regulatory environment, including how climate change is regulated in New Zealand, and the key regulatory changes and trends that may affect transition risk assessments.
• the chance to unpack how to front-foot legal risks arising from climate change mitigation, adaption, and climate risk disclosures, including misleading representations.

Participants will gain an understanding of:

• Legislation:  Understand, at a high-level, climate change legislation, including an overview of the Climate Change Response Act, the Zero Carbon Amendment Act, the Emissions Trading Scheme, including the role of the Climate Change Commission

• Key legislative developments:  Understand key developments in climate regulatory landscape in 2022, including the release of the Government’s Emissions Reduction Plan and the pending three-part Resource Management Act reform

• Legal risks:  Unpack key legal risks of climate change – e.g. what should directors / GCs / CFOs be aware of, what questions should they be asking, especially with the new disclosure regime (i.e. what are the legal risks to consider when preparing disclosures?).

FACILITATORS:

Alana Lampitt, Partner - Environmental and Resource Management, Chapman Tripp

Session 8. The why and the how of identifying and assessing transition risks using scenario analysis.

Content Overview

This session will introduce transition risk scenario analysis, enabling participants to build an understanding of where transition risk scenario analysis fits in the climate risk management journey, what’s required to undertake this type of scenario analysis, and its application as a value input to strategy decisions and risk management for business. 

Participants will gain an understanding of:

• understand what transition risk scenario analysis is and its important role in the climate risk management journey 

• how climate scenario analysis enables business to translate the impact of a warming planet into future business considerations, and the interrelationship between physical and transition risk scenario analysis

• understand the key steps in a transition risk scenario analysis exercise, and the key inputs required

• understand how to interpret and practically apply scenario analysis to business decisions, including considerations of accountability and applicability across an organisation’s operating model.

FACILITATOR:

Andrew Jamieson, Partner, Sustainability & Climate Change Leader, PwC

Session 9. Unpacking the latest CRD developments from the XRB.

Content overview:

The session will provide participants with the latest in the XRB’s CRD Standard development.

Participants will gain an understanding of:

• the status of the CRD Standards in Aotearoa New Zealand

• appreciate key global developments in climate-disclosures

• the extent of the guidance notes available from the XRB

• XRB’s role going forward.

FACILITATOR:
Jack Bissett Policy Manager, External Reporting Board (XRB)

Session 10. Operating model and business planning

Content overview:

This session will provide guidance on taking all the elements of the CRD regime and applying them to strategic and operational decision making.

It will assist in moving CRD from a compliance requirement, to an important and useful tool in ensuring the future success of an organisation’s strategy and business model.

Participants will learn:

• how to embed and operationalise climate risks, strategy, governance, metrics and reporting across their business

• the importance of establishing a clear and defined feedback loop betweeen governance, risk management, strategy, reporting and metrics to ensure that an organisations’ response to climate change remains relevant and flexible to change

• how climate change risks and opportunities should be considered across different aspects of a company’s organisational framework.

FACILITATOR:
Annabell Chartres, Partner, Sustainability & Climate Change leader, PwC

Session 11. Achieving our commitments under the Paris Agreement: how to set achievable metrics and targets.

Content overview:

This session will focus on how setting and embedding climate-related metrics and targets can enable an organisation to benefit from both a risk management and a performance improvement perspective.

By having clear, time-bound, and integrated targets organisations will be able to better evaluate their risks and exposures, and ultimately achieve their commitments under the Paris Agreement. 

Participants will gain an understanding of:

• how climate-related issues impact business strategy and financial planning

• the importance of target setting as a tool to manage climate-related risks and opportunities

• how to set effective targets, in-line with CRD expectations

• Participants will be given the opportunity to further develop their CRD Implementation Plans

FACILITATOR:
Gerri Ward, Director, Climate Change and Sustainability Services, EY

Session 12. Accounting for climate.

The session will provide participants with an overview of the following:

• integrating climate risk into financial reporting: what, when and how
• double materiality, including what is I, how it relates to CRD, and how to quantify and report it
• accounting for the financial impacts of climate related risk and opportunities – quantifying financial exposure to climate risk under multiple scenarios.

Participants will learn:

• to understand minimum requirements relating to climate risk disclosure in financial reporting

• understand the difference between single materiality and double materiality, and appreciate which one the CRD Standard requires

• learn about the various approaches, variables and considerations for quantifying exposure to climate related financial risk, to support an understanding of the strategic value of quantifying and managing climate risk.

FACILITATORS:
Rikki Stancich, Director, Climate and Sustainability and Andrew Wood, Associate Director , Deloitte