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‘RBNZ releases guidance on managing climate-related risks for prudentially regulated entities’

The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) has released guidance on managing climate-related risks (Guidance). We welcome RBNZ’s efforts to harmonise the Guidance with NZ CS 1 and provide more illustrative examples of strategy disclosures. The previous draft of the Guidance could have led to confusion and conflicts for climate-reporting entities.

The Guidance outlines the RBNZ’s supervisory and monitoring approach in relation to climate-related risk management practices. We recommend that all entities prudentially regulated by the RBNZ (banks, licensed insurers, licensed non-bank deposit takers and designated financial market infrastructures) review this Guidance.

If you would like more information on the Guidance, or would like to discuss climate risk and climate-related disclosures more generally, please get in touch.

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Contacts

For more information, please contact:

Daniel Street

Partner

Auckland

Email

Rachel Taylor

Partner

Wellington

Email

Wendy Smith

Senior Associate

Wellington

Email

Lola Stoodley

Solicitor

Auckland

Email

Terry Ang

Solicitor

Wellington

Email

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