KiwiSaver Providers Submit First-Ever Climate Reports

Most KiwiSaver providers, including Fisher Funds Management Limited (NZX: FIS), have submitted their inaugural climate reports, detailing emissions from their investments, with around 35 investment scheme providers and 16 KiwiSaver providers filing by July 31. The Financial Markets Authority (FMA) is reviewing these submissions and will provide feedback by November. The reports, mandated under the Financial Markets Conduct Act, must comply with three climate standards set by the External Reporting Board (XRB), covering governance, strategy, risk management, and GHG disclosures. Early observations suggest many providers utilized initial-year exemptions to ease reporting pressure. The FMA is the first regulator globally to review legally required climate statements and will focus on monitoring new disclosures in the second year, such as financial impacts and transition planning.

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