Past CRD Masterclasses

Auckland & Christchurch 2022

3-DAY PRACTICAL COURSE
21 hours CPD
12 practitioner-focused sessions
15 expert presenters
All sessions in person
Morning and afternoon tea, lunch provided
Includes networking drinks on Day One

Download the Brochure

CRD Masterclasses Introductory Series - March 2022
"... it was one of the best CPD events I have ever undertaken."
Mark Butcher, Chief Executive, Local Government Funding Agency

The Climate-Related Disclosures (CRD) regime will be mandatory for New Zealand’s largest 200 financial institutions and large listed issuers, including corporates, starting with reporting periods on or after 1 January 2023.

As the CRD regime also provides a powerful framework for corporates to frame their climate change response and improve organisational resilience, it is expected that, over time, the CRD regime will be more widely adopted. This is in response to the rapidly evolving expectations and requirements of stakeholders, such as investors and other financial institutions, and the need for organisations themselves to urgently adapt to, and to mitigate the effects of, climate change.

To assist corporates understand the journey required, INFINZ has developed a unique and focused CRD training course. This interactive course will provide participants with valuable insights into the practical application of the core elements of the CRD regime. It aims to empower corporates to commence their climate change journey – a journey framed against the Taskforce on Climate-Related Financial Disclosures (TCFD) – enabling them to largely use their own resources, where appropriate.

The course seeks to pragmatically unpack the essential ‘how to’ elements of the CRD regime: from how to establish effective management governance structures, through to how to set effective targets to improve an organisation’s resilience to climate change.

Benefits & Outcomes

The aim of the course is to equip corporates with the knowledge to understand, and then practically apply, the core elements of the CRD regime. The course aims to empower corporates to confidently undertake their own CRD journey, using their own resources, where appropriate.

Crucially, this course seeks to move the conversation beyond ‘tick the box compliance’ to a conversation which enables participants to strategically improve their organisation’s resilience through robust climate adaption and mitigation.

The key objectives are to:

assist corporates and the wider eco-system, on the practical application of the core elements of the CRD regime, e.g. through assessing the physical risks of climate change
empower corporates to confidently unpack, and undertake, the core elements of the CRD largely using their own resources, e.g. carbon footprinting and emission reduction planning
challenge attendees to consider their organisation’s resilience to climate change, e.g. to evaluate their current adaptation and mitigation plans
have participants develop their unique practical implementation plan for their organisation - this will form a key deliverable from the course.

Programme Overview

Participants will engage with leading New Zealand practitioners from Chapman Tripp, Deloitte, EY, Tonkin and Taylor and PwC, regulators and standard setters FMA and XRB, and moderated by sustainable finance expert Erica Miles from West Nine Consulting. Topics cover a wide range of areas such as: getting started on carbon footprinting and emissions reduction planning; understanding and assessing physical risks and transitional risks; the integration of climate change in corporate operating model and strategy; how to factor in climate risks into financial models; and getting started on scenario analysis.

The course is broken down into 12 practitioner-focused sessions incorporated into three consecutive days in Auckland.

The course will encourage interactivity and involve practical exercises to support participants depth of understanding and the practical application of the CRD regime’s core elements.

Throughout the course, time will be provided to enable participants to reflect on their own organisation’s performance, and to input into their unique CRD implementation plan.

WHO SHOULD ATTEND

finance, including accounting professionals such as CFO's, treasurers, finance and planning executives

investor relations

legal counsel

risk management and internal audit

heads of strategy and/or operations

sustainability team(s)

directors

advisors/consultants

PREPARATION

To ensure participants are able to contribute to the sessions, 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.

PROGRAMME & DATES

DAY ONE

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:
Michael van Zijl and Sybille Renard, Senior Advisers, 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:
Rikki Stancich, Director, Climate and Sustainability and Monika Wakeman, Director - Risk Advisory Climate & 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

DAY TWO

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:

Nicola Swan, Partner, and 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:

Annabell Chartres, Partner, Sustainability & Climate Change Leader, PwC

DAY THREE

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:
Lisa Kelsey, Senior Project Manager - Climate Standards, 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:
Pip Best, Partner, Sustainability and Climate Change Leader, 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