CLIMATE-RELATED DISCLOSURE SERIES

CRD: QUANTIFYING THE FINANCIAL IMPACTS OF CLIMATE CHANGE

Practical guidance for directors and CFOs implementing the next stage of the Climate Standards: translating climate risks and opportunities into quantifiable financial impacts, and navigating the key legal and commercial considerations around financial quantification

A dedicated course aimed at directors and senior finance professionals to help them understand the evolution and expectations of their role in the Climate Standards; how to quantify the current and anticipated financial impacts of climate change; and key legal considerations associated with forward-looking climate-related financial disclosures.

  • What is the role of Chief Financial Officer, and the finance team, in meeting the requirements of the Climate Standards now the first-time adoption provisions have expired?
  • How should an organisation undertake financial quantification of the climate risks and opportunities your organisation has identified?
  • How could you assess whether your Climate Statements and Financial Statements are aligned?
  • How best to navigate the key legal and commercial considerations when making forward-looking strategy and climate-related financial disclosures?

BACKGROUND

Released in January 2023, the Aotearoa New Zealand Climate Standards were a world first. These standards ultimately seek to encourage organisations and investors to allocate capital to support the transition and improve their resilience, and to provide information to Primary Users (investors) so that they can use the disclosures to support their investment decisions.

As organisations prepare for the third year of reporting, they will be required to quantify, and report on, the current and anticipated financial impacts of climate change.  There is also a heightened investor and regulatory focus on the connectivity between what’s reported in the Climate Statements and the Financial Statements.


Benefits & Outcomes

The course will commence with a panel discussion with a leading CFO, a director, PwC and Chapman Tripp to unpack the role of the finance team, including the Chief Financial Officer, in implementing the Climate Standards as it moves to requiring financial quantification of climate-related risks and opportunities.

Following this, the session will include the following:

  • Understanding the foundational elements required to enable the financial quantification of current and anticipated impacts of climate-related risks and opportunities
  • Suggestions and recommendations on the implementation of systems and processes that can support financial quantification
  • Materiality – including worked examples on how to apply the concept of materiality to your Climate Statements
  • Aligning Financial Statements with Climate Statements
  • Managing the legal risks for forward looking statements
  • Key issues to be aware of around financial quantification and commercial sensitivity
  • The role strategy and transition planning play in managing financial and legal risks.

A practical case study will accompany the financial quantification sessions, progressively building on each solution to support implementation.

All sessions are interactive. There will also be ample opportunities for participants to ask questions.


WHO SHOULD ATTEND

This event is designed for directors, chief financial officers, and other senior finance professionals.

The course is focused on senior individuals who are accountable for the financial quantification of climate impacts and the preparation of the Financial Statements within their organisation, including:

  • Directors
  • Financial controllers
  • Senior accountants
  • Chief Financial Officers
  • Treasurers
  • Senior financial advisors to the C-suite.

DATES & VENUE

Date and time:

Thursday 20th March 2025
8am - 2.30pm

Venue:

PwC Auckland,
PwC Tower, Level 27/15 Customs Street West
Auckland CBD

TIMINGS

AGENDA

8am: Arrival and registration
8.30am: Event opens, commencing with a panel discussion
2.30pm: Event closes

5.5 hours CPD available.

SESSION TOPICS

  1. Introductions and welcome
  2. Panel discussion - What is the role of the CFO and finance team in the Climate Standards?
  3. Financial quantification – Part I : Foundational elements and ‘how to’ 101
  4. Financial quantification – Part II : Materiality and achieving alignment between your Climate and your Financial Statements
  5. Managing the key legal and commercial risks of forward-looking financial quantification

SESSION 1. Introduction and overview of the course

FACILITATOR:
Erica Miles, Director, West Nine Consulting


SESSION 2. Panel discussion - What is the role of the CFO and finance team in the Climate Standards?

Chief Financial Officers and finance teams play a key role in climate-related financial disclosures. Input from the finance function will become even more critical as the regime beds in, requiring the financial quantification of climate-related risks and opportunities from reporting entities’ second reporting year.

This panel discussion will explore how CFOs and their teams can support the evolution of climate disclosures over time, and the key role CFOs have in ensuring sustainable outcomes for their business - not just in climate reporting but also the broader sustainability remit. 

FACILITATORS:
Kate Wilson Butler (Panel Chair), Chapman Tripp; Kathryn Waugh, Oceania; Renate Swart, PwC


SESSION 3. Financial quantification – Part I. Foundational elements and ‘how to’ 101

This practical session will provide participants with:

  • An understanding of foundational elements required to enable the financial quantification of current and anticipated impacts of climate-related risks and opportunities
  • Suggestions and recommendations on the implementation of systems and processes that can support financial quantification
  • Steps an organisation could undertake to quantify the financial impact of its identified climate risks and opportunities.

FACILITATORS:
Annabell Chartres and Ben Coulter, PwC


SESSION 4. Financial quantification  – Part I : Case study deep dive - the ‘how to’ practically

In this session, participants will progressively work through the practical case study in more depth and explore more deeply the mechanisms to enable financial quantification for its identified climate-related risks and opportunities.

FACILITATORS:
Ben Coulter and Jonathan Skilton, PwC


SESSION 5. Financial quantification – Part II : Materiality 

This practical session will provide participants with: 

  • Guidance on (climate) materiality – including worked examples on how to apply the concept of materiality to your Climate Statements and how this translates into financial materiality

FACILITATOR:
Tiniya du Plessis, PwC


SESSION 6. Financial quantification – Part II : Alignment between your Climate and your Financial Statements

This practical session will provide participants with: 

  • Guidance on how Directors and CFOs could you assess alignment between Climate Statements and Financial Statements
  • The impact of the Climate Statements on the Financial Audit. 
Participants will work through a practical example to appreciate how to apply the concept of materiality to your Climate Statements and how alignment with your Financial Statements can be assessed.

FACILITATORS:
Jonathan Skilton and Tiniya du Plessis, PwC

SESSION 7. Managing the key legal and commercial risks of forward-looking financial quantification

This session will provide participants with an overview of the legal and commercial risks associated with forward-looking statements, including those required because of the mandatory disclosure of current and anticipated financial impacts from climate change from Year 2 of reporting onwards. 

The session will provide practical tips and insights for participants to consider when mitigating these risks, including transition planning and governance considerations for the financial quantification of risk. 

FACILITATORS:
Alana Lampitt and Nicola Swan, Chapman Tripp


PRESENTERS

The session will be facilitated by recognised specialists in their fields, including:

Chapman Tripp


West Nine Consulting

Chapman Tripp


Oceania

Chapman Tripp


INVESTMENT


INFINZ member price
$625 including GST


Non-member price
$775 including GST


Places are limited and will be provided on a first in first served basis. 

SPECIAL OFFERS:

10% discount off total for 3 or more registrations from same organisation
(including directors) - applies to members and non-members

20% discount off total for 5 or more registrations from same organisation
(including directors) - applies to members and non-members

25% discount for members outside of Auckland (INFINZ members only)
 
Only one discount applies to any single registrant

REFUND TERMS AND CONDITIONS:

Tickets can be transferred to another person at any time without penalty (if they are from the same charging group)
Full refund if cancelled more than 28 days prior
50% refund if cancelled between 14 and 28 days prior
25% refund if cancelled between 7 and 14 days prior
No refund if cancelled within 7 days of the event

CONTACT DETAILS AND HOW TO REGISTER

Places are limited and will be provided on a first in first served basis.

Contact Faith Taylor support@infinz.com to enquire.

Please advise dietary requirements when registering.


ABOUT THE AOTEROA NEW ZEALAND CLIMATE STANDARDS

The Aotearoa New Zealand Climate Standards came into force on 1 January 2023 and apply to Climate Reporting Entities that are required to report under the Financial Markets Conduct Act 2013.

The Standards have two objectives:

  • To provide a consistent framework for entities to consider the climate-related risks and climate-related opportunities that climate change presents for their activities over the short, medium and long-term. This is to enable Primary Users to assess the metrics of how entities are considering those risks and opportunities, and to make (investment) decisions based on these assessments.
  • To support the allocation of capital towards activities that are consistent with the transition to a low-emissions, climate-resilient future.
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