Sustainability reporting <br>in New Zealand

KPMG’s Survey of Sustainability Reporting dives into the key trends of sustainability reporting among the top 100 entities by revenue in New Zealand, complementing KPMG’s Global report which covers the top 100 in 58 jurisdictions and the Global 250.

While there has been some improvement, with 57 organisations now providing reports (up from 50 in 2022), New Zealand is still significantly lagging when compared to our key trading partners, most of which have a 80-100% reporting rate.

Given the significant environmental and societal impacts of corporate organisations, it’s crucial that New Zealand accelerates its progress in this vital area.

Survey of Sustainability Reporting

A look into the key trends of sustainability reporting among the
top 100 entities by revenue in Aotearoa New Zealand, accompanied
by insights into key sectors. Survey of Sustainability Reporting

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Key findings

However, we are still significantly lagging when compared to our key trading partners, which have 80-100% of their large companies providing reports. New Zealand entities seem to underestimate the potential impact of demands for information from these international reporters that are increasingly subject to mandatory ESG/sustainability reporting in their jurisdictions.

Of the seven “new” sustainability reporters, only two report using the External Reporting Board (XRB) Climate Standards.

Establishing a carbon reduction target without addressing the climate risk suggests the target may be unrealistic.

Despite New Zealand’s economy relying heavily on natural capital as one of its global competitive advantages, only 19 organisations that we surveyed recognise the loss of biodiversity/nature as a risk to the business.

It is therefore encouraging to see that levels are increasing. However, we are still lagging with less than a quarter of entities surveyed obtaining assurance.