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 half-day 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 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.
For the first reporting year, Climate Reporting Entities were able to utilise the first-time adoption provisions contained within NZ Climate Standard 2. However, as organisations prepare for the second year of reporting, this no longer applies, and 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:
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DATES & VENUE
Two dates to choose from
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Option 1: SOLD OUT
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Option 2:
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Location for this half-day course:
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PwC Auckland,
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TIMINGS
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AGENDA
4.5 hours CPD available. |
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SESSION TOPICS
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SESSION 1. Introduction and overview of the course FACILITATOR: Erica Miles, Director, West Nine Consulting |
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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; Anne Urlwin, Director (October Option Only); Mark Cross, Director (November Option Only) |
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SESSION 3. Financial quantification – Part I This practical session will provide participants with:
FACILITATORS: Annabell Chartres and Ben Coulter, PwC |
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SESSION 4. Financial quantification – Part II : Materiality and achieving alignment between your Climate and your Financial Statements This practical session will provide participants with:
FACILITATORS: Jonathan Skilton and Tiniya du Plessis, PwC |
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SESSION 5. 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.FACILITATOR: Alana Lampitt and Nicola Swan, Chapman Tripp |
PRESENTERS
The session will be facilitated by recognised specialists in their fields, including:
Chapman Tripp
Director | OCTOBER ONLY
PwC
West Nine Consulting
PwC
Chapman Tripp
Oceania
ACC | NOVEMBER ONLY
Chapman Tripp
PwC
INVESTMENT
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INFINZ member price
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Non-member price
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Places are limited and will be provided on a first in first served basis.
(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
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.