New Zealand Weighs Climate Reporting Exemption for Foreign Firms
New Zealand’s Financial Markets Authority (FMA) is consulting on a proposed class exemption that could ease climate reporting duties for foreign-incorporated entities.
Under the plan, overseas banks, insurers, and listed issuers already subject to comparable climate disclosure rules in their home markets would be allowed to file those reports directly in New Zealand, instead of producing separate local statements.
The move responds to growing concerns about duplicative compliance costs, especially for Australian firms that now face both New Zealand and Australia’s new climate disclosure regimes. The FMA argues that where overseas standards—such as Australia’s AASB S2—are “broadly equivalent” to New Zealand’s requirements, investors and stakeholders would still get reliable, comparable information.
The proposal would apply only to jurisdictions with strong regulatory oversight and alignment with global frameworks like the ISSB standards. Australia is the first market under consideration.
Submissions on the consultation close on 24 October 2025, with a final policy expected later this year.
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