Climate-Related Disclosure Standards: Practical guide for the C-suite to comply and take the opportunity to enhance the organisation’s resilience
- Is your organisation prepared enough for the Climate Standards which are now in force?
- How can your organisation enhance its resilience through robust planning to address climate adaptation and mitigation?
- Have you a clear plan to bring the whole organisation together to plan the transition?
To assist directors and senior executives understand what these standards require at a strategic level, and to appreciate the nature and magnitude of the organisational change required, INFINZ has developed this unique and focused one-day course.
Effective 1 January 2023, the Climate-Related Disclosures (CRD) regime is now mandatory for New Zealand’s largest 200 financial institutions, including large listed equity and debt issuers, insurers, banks, and Managed Investment Scheme managers. The associated Climate Standards, which support the regime, were developed by the External Reporting Board and finalised in December 2022.
The Climate Standards seek to support the allocation of capital towards activities that are consistent with a transition to a low-emissions, climate-resilient future. Because of this, the Climate Standards are far from a ‘tick the box’ compliance exercise. Instead, they necessitate a strategic and transformational response from both those directly impacted by the regime - and the organisations interacting with them. These Climate Standards make it clear that a ‘Business as Usual’ response will no longer suffice as we collectively build organisational resilience.
Benefits & Outcomes
The course aims to equip directors and senior executives with the knowledge needed to understand, and then practically apply, the core elements of the Climate Standards. It seeks to enlighten participants as to the impact the Climate Standards will have on their business model and strategy - notably to appreciate that the ‘Business as Usual’ approach is no longer an option as organisations transition to a low-carbon climate resilient economy.
Crucially, this course moves the conversation well beyond ‘tick the box compliance’ to a conversation enabling participants to confidently and purposefully improve their organisation’s resilience through robust actions to address climate adaption and mitigation.
The key objectives of the course are to have participants:
- understand the origins, mandate, core objectives, and key requirements of the Climate Standards
- be cognisant of climate change, and how applying the Climate standards directly impacts their organisation’s strategy and business model and necessitates change
- confidently challenge their organisation’s resilience to climate change, e.g. to evaluate the robustness of their current adaptation, mitigation and transition plans
- recognise their organisation’s role in the wider societal response to climate change as we collectively transition to a low-carbon climate resilient economy
- appreciate the expectations of directors, executive, and the role of regulator (FMA)
- realise how the Climate Standards, and an organisation’s climate impacts, affect their financial reporting
- look ahead at other leading developments in corporate reporting and areas of future focus both internationally and domestically
- learn from leading peers as to the actions they have taken to embrace the opportunities these Climate Standards present.
Programme Overview
The one-day course is broken down into six executive-focused sessions and will be held in Auckland CBD. Participants will engage with leading New Zealand practitioners and their peers, including through an interactive panel discussion.
This intensive, practical, and educative course will provide participants with valuable linkages between the Climate Standards and the business imperative to transition, such as changes to an organisation’s operating model, supply chain, products and services, financial spending and investment plans etc.
WHO SHOULD ATTEND
The course is tailored to directors and senior executives and others with an interest in understanding how the Climate Standards necessitate an organisation-wide response in support of the transition. It is expected the course would be of most benefit to senior professionals such as:
|
|
PREPARATION
To ensure participants are able to obtain maximum benefit from the course, INFINZ requires each attendee to undertake pre-reading material to set the scene. The reading will be provided in the members section of the website and will also be sent to each registrant prior to commencement.