Fund Managers Seek Delay in Audit Requirement for Emissions Data

Boutique Investment Group (BIG) chair Simon Haines and other fund managers have proposed to the government that emissions data in fund climate reports should not require immediate auditing. They argue that although New Zealand’s climate standards mandate auditing of greenhouse gas (GHG) disclosures for periods ending October 27, 2024, the industry is not ready. Fund managers currently rely on third-party data providers, which results in inconsistent data. Haines suggests this can create false confidence due to speculative assumptions. The group seeks to delay the requirement until one year after similar requirements are implemented in Australia, citing high audit costs and the lack of practitioners. The proposal is supported by firms like Aurora Capital, Fisher Funds, and Nikko.

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