What are the NZ Climate Standards (NZ CS 1-4)?

The NZ Climate Standards are mandatory climate-related disclosure requirements for large listed issuers, banks, insurers, and investment managers in New Zealand. NZ CS 1 covers Governance, NZ CS 2 covers Strategy, NZ CS 3 covers Risk Management, and NZ CS 4 covers Metrics and Targets. They are based on the TCFD framework and issued by the External Reporting Board (XRB).

What are NZ CS adoption provisions?

Adoption provisions are transitional relief measures that allow first-time reporters to phase in certain disclosure requirements. Common provisions include relief from quantifying anticipated financial impacts (Adoption Provision 2), current-period financial impacts (Adoption Provision 3), transition plan disclosure (Adoption Provision 4), and Scope 3 GHG emissions assurance (Adoption Provision 8).

How is NZ CS compliance rated on this dashboard?

Each company is rated across all four NZ CS sections as Compliant (meeting requirements), Partial (some requirements met), or Gap (not addressed). Ratings are based on deep extraction from sustainability and climate-related disclosure reports. A company is considered Fully Compliant only when all four sections are rated Compliant.

NZ CS Adoption Provisions Dashboard

Deep compliance ratings for NZ Climate Standards (NZ CS 1-4) across NZX-listed companies. Track section-level compliance, adoption provisions used, and first-year reporters.

Total Reporters

Fully Compliant

First-Year Reporters

Adoption Provision 7

Most Used Provision

77%

Avg Compliance Rate

Compliance Heatmap

Company	NZ CS 1 Governance	NZ CS 2 Strategy	NZ CS 3 Risk Mgmt	NZ CS 4 Metrics
AIR AIR
ARB ARB
BIF BIF
BRM BRM
CDI CDI
CHI CHI
DGL DGL
DOW DOW
EBO EBO
ERD ERD
FBU FBU
FCG FCG
FRW FRW
FSF FSF
FWL FWL
GMT GMT
GTK GTK
HLG HLG
KFL KFL
KMD KMD
KPG KPG
LIC LIC
MCK MCK
MFT MFT
MLN MLN
MOV MOV
NZK NZK
NZL NZL
OCA OCA
PGW PGW
PLP PLP
RAD RAD
RBD RBD
RYM RYM
SCL SCL
SCT SCT
SEK SEK
SPN SPN
STU STU
SUM SUM
THL THL
TRA TRA
VNT VNT
WBC WBC

Compliant Partial Gap

NZ CS Compliance Detail (44 companies)

Ticker ↑	Company	Sector	NZ CS 1	NZ CS 2	NZ CS 3	NZ CS 4	First Report	Provisions	Year
AIR AIR	Air New Zealand	Industrials	Partial	Partial	Partial	Partial	\u2014	—	2022
ARB ARB	ArborGen Holdings Limited	Industrials	Compliant	Compliant	Compliant	Partial	\u2014	4	2025
BIF BIF	Booster Innovation Fund	Financials	Compliant	Compliant	Compliant	Compliant	\u2014	4	2025
BRM BRM	Barramundi Limited	Financials	Compliant	Compliant	Compliant	Partial	\u2014	6	2025
CDI CDI	CDL Investments New Zealand Limited	Real Estate	Compliant	Compliant	Compliant	Partial	\u2014	4	2024
CHI CHI	Channel Infrastructure NZ Limited	Energy	Compliant	Compliant	Compliant	Compliant	First	6	2023
DGL DGL	Delegat Group Limited	Consumer Staples	Compliant	Partial	Compliant	Compliant	\u2014	6	2025
DOW DOW	Downer EDI Limited	Industrials	Partial	Partial	Partial	Partial	\u2014	—	2025
EBO EBO	EBOS Group Limited	Healthcare	Compliant	Partial	Partial	Partial	\u2014	4	2025
ERD ERD	EROAD	Industrials	Partial	Partial	Partial	Partial	\u2014	—	2022
FBU FBU	Fletcher Building	Materials	Compliant	Partial	Compliant	Compliant	First	6	2024
FCG FCG	Fonterra Co-operative Group Limited	Consumer Staples	Partial	Partial	Partial	Partial	\u2014	—	2024
FRW FRW	Freightways Group Limited	Industrials	Compliant	Compliant	Compliant	Compliant	\u2014	5	2025
FSF FSF	Fonterra Shareholders' Fund	Consumer Staples	Partial	Partial	Partial	Partial	\u2014	—	2024
FWL FWL	Foley Wines Limited	Consumer Staples	Partial	Partial	Partial	Partial	First	6	2024
GMT GMT	Goodman Property Trust	Real Estate	Compliant	Partial	Compliant	Partial	First	6	2024
GTK GTK	Gentrack Group Limited	Information Technology	Partial	Partial	Partial	Partial	\u2014	—	2025
HLG HLG	Hallenstein Glasson Holdings Limited	Consumer Discretionary	Compliant	Partial	Compliant	Compliant	First	7	2024
KFL KFL	Kingfish Limited	Financials	Compliant	Compliant	Compliant	Partial	\u2014	6	2025
KMD KMD	KMD Brands Limited	Consumer Discretionary	Partial	Partial	Partial	Partial	\u2014	—	2021
KPG KPG	Kiwi Property	Real Estate	Compliant	Partial	Compliant	Partial	First	6	2024
LIC LIC	Livestock Improvement Corporation Limited	Financials	Partial	Partial	Partial	Partial	\u2014	1	2025
MCK MCK	Millennium & Copthorne Hotels New Zealand Limited	Consumer Discretionary	Compliant	Compliant	Compliant	Partial	\u2014	5	2024
MFT MFT	Mainfreight Limited	Industrials	Compliant	Compliant	Compliant	Compliant	\u2014	3	2025
MLN MLN	Marlin Global Limited	Financials	Compliant	Compliant	Compliant	Compliant	\u2014	6	2025
MOV MOV	MOVE Logistics Group Limited	Industrials	Compliant	Partial	Compliant	Compliant	\u2014	3	2025
NZK NZK	New Zealand King Salmon Investments Limited	Consumer Staples	Compliant	Compliant	Compliant	Partial	\u2014	3	2025
NZL NZL	New Zealand Rural Land Company Limited	Real Estate	Compliant	Compliant	Compliant	Compliant	\u2014	5	2024
OCA OCA	Oceania Healthcare Limited	Healthcare	Compliant	Compliant	Compliant	Compliant	\u2014	3	2025
PGW PGW	PGG Wrightson Limited	Industrials	Partial	Partial	Partial	Partial	\u2014	—	2025
PLP PLP	Private Land and Property Fund	Real Estate	Compliant	Compliant	Compliant	Compliant	\u2014	4	2025
RAD RAD	Radius Residential Care Limited	Healthcare	Compliant	Partial	Compliant	Partial	\u2014	4	2025
RBD RBD	Restaurant Brands New Zealand Limited	Consumer Discretionary	Partial	Partial	Partial	Partial	First	—	2024
RYM RYM	Ryman Healthcare Limited	Healthcare	Partial	Partial	Partial	Partial	\u2014	—	2025
SCL SCL	Scales Corporation Limited	Industrials	Compliant	Partial	Compliant	Partial	\u2014	4	2024
SCT SCT	Scott Technology Limited	Industrials	Compliant	Partial	Compliant	Compliant	First	7	2024
SEK SEK	Seeka Limited	Consumer Staples	Partial	Partial	Partial	Compliant	\u2014	—	2021
SPN SPN	South Port New Zealand Limited	Industrials	Compliant	Partial	Partial	Partial	First	5	2024
STU STU	Steel & Tube Holdings Limited	Materials	Compliant	Compliant	Compliant	Partial	\u2014	4	2025
SUM SUM	Summerset Group Holdings Limited	Healthcare	Partial	Partial	Partial	Partial	\u2014	—	2025
THL THL	Tourism Holdings Limited	Consumer Discretionary	Compliant	Partial	Compliant	Compliant	First	6	2024
TRA TRA	Turners Automotive Group	Consumer Discretionary	Compliant	Compliant	Compliant	Compliant	\u2014	1	2025
VNT VNT	Ventia Services Group Limited	Industrials	Compliant	Compliant	Compliant	Compliant	\u2014	—	2023
WBC WBC	Westpac Banking Corporation	Financials	Compliant	Compliant	Compliant	Compliant	\u2014	—	2023

Adoption Provisions Analysis

Adoption provisions allow first-time reporters to phase in certain disclosure requirements. The chart below shows which provisions are most commonly used across reporting companies.

Adoption Provision 7: Analysis of trends

5 cos.

Adoption provision 7: Analysis of trends

4 cos.

Adoption provision 8: Scope 3 GHG emissions assurance

3 cos.

Adoption provision 2: Anticipated financial impacts

3 cos.

Adoption provision 6: Comparatives for metrics

3 cos.

Adoption Provision 2: Anticipated financial impacts

3 cos.

Adoption Provision 6: Comparatives for metrics

3 cos.

Adoption provision 2: Anticipated financial impacts of climate-related risks and opportunities

2 cos.

Adoption provision 6: Comparative information for metrics

2 cos.

Adoption provision 7: Analysis of main trends for metrics

2 cos.

Provision 2: Anticipated financial impacts of physical and transition impacts (available in first and second reporting period)

2 cos.

Provision 4: Scope 3 GHG emissions disclosure (available in first and second reporting period)

2 cos.

Provision 7: Analysis of trends (except for scope 3 GHG emissions)

2 cos.

Adoption provision 5: Comparatives for Scope 3 GHG emissions

2 cos.

Provision 2: Anticipated financial impacts of physical and transition impacts (first and second reporting period exemption)

1 co.

Provision 4: Scope 3 GHG emissions disclosure as gross emissions (first and second reporting period exemption)

1 co.

Provision 5: Comparatives for Scope 3 GHG emissions (first and second reporting period exemption)

1 co.

Provision 6: Comparatives for metrics for Scope 3 GHG emissions (first and second reporting period exemption)

1 co.

Provision 7: Analysis of trends (exemption for Scope 3 GHG emissions)

1 co.

Provision 8: Scope 3 emissions excluded from assurance engagement (for periods prior to 31 December 2025)

1 co.

Provision 5: Comparatives for scope 3 GHG emissions (available in first and second reporting period)

1 co.

Provision 6: Comparatives for metrics for scope 3 GHG emissions (available in first and second reporting period)

1 co.

Provision 8: Scope 3 emissions excluded from assurance engagement (for accounting periods prior to 31 December 2025)

1 co.

Adoption provision 2: anticipated financial impacts of climate-related risks and opportunities not quantified; explanation provided that quantitative information not able to be provided at this time

1 co.

Adoption provision 4: Scope 3 GHG emissions disclosure exemption (one-year extension used)

1 co.

Adoption provision 5: comparative information for Scope 3 GHG emissions not required

1 co.

Adoption provision 6: comparative year for metrics (using 2021 as base year)

1 co.

Adoption provision 7: analysis of trends from comparison metrics (exemption used for Scope 3)

1 co.

Adoption provision 8: Scope 3 GHG emissions assurance not provided

1 co.

Adoption provision 2: Anticipated financial impacts (qualitative descriptions provided)

1 co.

Adoption provision 4: Scope 3 GHG emissions (not reported; company continuing to work on data quality)

1 co.

Adoption provisions 6 and 7: Comparatives and trends (one year of comparative information provided)

1 co.

Adoption provision 8: Scope 3 GHG emissions assurance (not required)

1 co.

Adoption Provision 8 (Scope 3 emissions disclosure transitional relief for reporting periods ending before 31 December 2025)

1 co.

Exemption under NZ Climate Standard 2 for not reporting Scope 3 emissions (to establish full value chain before reporting)

1 co.

Adoption Provision 2: Anticipated financial impacts (exempts from disclosing anticipated financial impacts in first/second reporting period; exempts from NZ CS 1 paragraphs 15(c) and 15(d) on time horizons and quantitative information)

1 co.

Adoption Provision 6: Comparatives for metrics (exempts from NZ CS 3 paragraph 40 requirement for two years comparative data; allows one year comparative for second reporting period)

1 co.

Adoption Provision 7: Analysis of trends (exempts from NZ CS 3 clause 42 analysis of main trends in first/second reporting period)

1 co.

Adoption Provision 2: Anticipated financial impacts (exemption from disclosing anticipated financial impacts of climate-related risks/opportunities)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (exemption from disclosing Scope 3 in first and second reporting periods)

1 co.

Adoption Provision 5: Comparatives for Scope 3 GHG emissions (exemption from disclosing comparatives for previous two reporting periods)

1 co.

Adoption Provision 8: Scope 3 GHG emissions assurance (exemption from including Scope 3 in assurance scope for periods ending on or after 31 December 2025)

1 co.

Adoption Provision 2: Anticipated financial impacts (exemption from disclosing anticipated financial impact of climate-related risks/opportunities and time horizons)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (exemption from disclosing all Scope 3 emissions)

1 co.

Adoption Provision 6: Comparatives for metrics (exemption from disclosing comparative information for two preceding reporting periods; one year of comparatives provided)

1 co.

Adoption Provision 7: Analysis of trends (exemption from disclosing analysis of main trends from comparison of metrics)

1 co.

Provision 5: Comparatives for scope 3 GHG emissions (comparative information for immediately preceding 2 reporting periods)

1 co.

Provision 6: Comparatives for metrics for scope 3 GHG emissions (comparative information for immediately preceding 2 reporting periods)

1 co.

Provision 8: Scope 3 emissions excluded from assurance engagement

1 co.

Adoption Provision 2: Anticipated Financial Impacts (exempts disclosure of anticipated financial impacts of climate-related risks and opportunities and time horizons)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (exempts disclosure of Scope 3 categories 9, 10, 11, 12)

1 co.

Adoption Provision 5: Comparatives for Scope 3 GHG emissions (exempts comparative Scope 3 emissions for prior two reporting periods)

1 co.

Adoption Provision 6: Comparatives for Metrics (permits only one year of comparative information for disclosed metrics)

1 co.

Adoption Provision 7: Analysis of Trends (exempts analysis of main trends in disclosed metrics between previous reporting periods)

1 co.

Adoption Provision 2 (exemption from disclosing anticipated financial impacts of climate-related risks and opportunities in second reporting period)

1 co.

Adoption Provision 6 (exemption from comparative information for two preceding periods; one year comparative data provided)

1 co.

Adoption Provision 7 (exemption from analysis of main trends from prior period comparison)

1 co.

Adoption Provision 8 (exemption for entities with accounting period ending before 31 December 2025 from including Scope 3 GHG emissions in assurance scope)

1 co.

Adoption provision 1: Exemption from disclosing current financial impacts of physical and transition impacts in first reporting period

1 co.

Adoption provision 2: Exemption from disclosing anticipated financial impacts of climate-related risks and opportunities in first reporting period

1 co.

Adoption provision 3: Exemption from disclosing transition plan aspects of strategy and alignment with capital deployment/funding in first reporting period

1 co.

Adoption provision 4: Exemption from disclosing Scope 3 emissions in first reporting period (applied to Categories 3, 4, 5, 6 with partial disclosure of selected Category 3 and 4)

1 co.

Adoption provision 6: Exemption from disclosing comparative information for metrics from preceding two reporting periods

1 co.

Adoption provision 7: Exemption from disclosing analysis of main trends from comparison of metrics across periods

1 co.

Adoption Provision 2: Anticipated financial impacts (exemption for first and second reporting periods; preparation underway for FY25)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (partial disclosure where quantifiable data available; full reporting intended FY25)

1 co.

Adoption Provision 5: Comparatives for Scope 3 GHG emissions (exemption for first and second reporting periods; one year comparative intended FY25)

1 co.

Adoption Provision 6: Comparatives for metrics (exemption for first and second reporting periods; one year comparative provided FY24)

1 co.

Adoption Provision 7: Analysis of trends (exemption for first and second reporting periods; no trend analysis provided FY24)

1 co.

Adoption Provision 1: Current financial impacts (exempts from disclosing current financial impacts of physical and transition impacts and explaining why unable to disclose quantitative information)

1 co.

Adoption Provision 2: Anticipated financial impacts (exempts from disclosing anticipated financial impacts of climate-related risks and opportunities, time horizons, and explanations for inability to disclose quantitative information)

1 co.

Adoption Provision 3: Transition planning (exempts from disclosing transition plan aspects of strategy and alignment with capital deployment and funding decision-making)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (exempts from disclosing Scope 3 emissions)

1 co.

Adoption Provision 6: Comparatives for metrics (exempts from disclosing comparative information for metrics in first reporting period)

1 co.

Adoption Provision 7: Analysis of trends (exempts from disclosing analysis of main trends from comparison of metrics)

1 co.

Adoption Provision 1: Current financial impacts

1 co.

Adoption Provision 3: Transition planning

1 co.

Adoption Provision 4: Scope 3 greenhouse gas emissions

1 co.

Adoption Provision 5: Comparatives for Scope 3 metrics

1 co.

Adoption Provision 1: Current financial impacts (to be undertaken in second reporting year)

1 co.

Adoption Provision 2: Anticipated financial impacts (to be undertaken in third reporting year)

1 co.

Adoption Provision 3: Transition planning (to be undertaken in second reporting year)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (not disclosed due to data gaps)

1 co.

Adoption Provision 5: Comparatives for Scope 3 GHG emissions (exempted due to Provision 4)

1 co.

Adoption Provision 4: Scope 3 GHG emissions

1 co.

Adoption Provision 8: Scope 3 GHG emissions assurance

1 co.

Adoption Provision 2 (NZ CS 2 (12), (13) and (14)) - anticipated financial impacts, time horizons, and explanation of why quantitative information not provided

1 co.

Adoption Provision 6 (NZ CS 2 (20) and (21)) - comparative year for metrics

1 co.

Adoption Provision 7 (NZ CS 2 (22)) - analysis of trends from comparison of metrics

1 co.

Adoption Provision 8 (NZ CS 2 (24) and (25)) - scope 3 GHG emissions assurance

1 co.

Adoption Provision 1: Current and anticipated financial impacts (qualitative description provided)

1 co.

Adoption Provision 2: Anticipated financial impacts (qualitative description provided)

1 co.

Adoption Provision 3: Transition planning (in progress, to be completed FY25)

1 co.

Adoption Provision 6: Comparatives for metrics (Scope 3 methodology enhanced; no prior year comparatives provided)

1 co.

Adoption provision 1: Current financial impacts

1 co.

Adoption provision 3: Transition planning (partial disclosure of progress towards developing transition plan)

1 co.

Adoption provision 4: Subset of Scope 3 GHG emissions sources (specific exclusions disclosed)

1 co.

Adoption provision 1: Exemption from disclosing assessment of current and anticipated financial impacts of physical and transition impacts

1 co.

Adoption provision 2: Exemption from disclosing assessment of current and anticipated financial impacts of physical and transition impacts

1 co.

Adoption provision 3: Exemption from disclosing standalone transition plan; climate risks and opportunities integrated into wider business plan

1 co.

Adoption provision 4: Exemption from disclosing selected subset of Scope 3 GHG emissions sources; large proportion of Scope 3 disclosed where substantial quality data available

1 co.

Adoption provision 6: Exemption from disclosing comparative information for two prior periods; comparative information provided for one prior period only

1 co.

Adoption provision 7: Exemption from reporting analysis of trends for each disclosed metric; trends reported for some metrics only

1 co.

Adoption provision 4: Scope 3 greenhouse gas (GHG) emissions

1 co.

Adoption Provision 1: Current financial impacts (exemption from disclosing current financial impacts of transition risks; physical risk impacts assessed for direct assets only, excluding construction projects, joint ventures, critical infrastructure)

1 co.

Adoption Provision 2: Anticipated financial impacts (exemption from disclosing anticipated financial impacts of transition risks; physical risk impacts assessed for direct assets only)

1 co.

Adoption Provision 3: Transition planning (exemption from full disclosure of Transition Plan aspects; company describes current work towards developing Transition Plan and aspects requiring further work)

1 co.

Adoption Provision 4: Scope 3 GHG emissions (exemption from disclosing Scope 3 in first reporting period; company provided Scope 3 for all categories except use of sold products, downstream leased assets, processing of sold products)

1 co.

Adoption Provision 6: Comparatives for metrics (exemption from comparative information for two preceding periods; company provided comparatives for Scope 1, 2, 3 emissions and emissions intensity)

1 co.

Adoption Provision 7: Analysis of trends (exemption from analysis of main trends in first period; company provided analysis of trends for Scope 1, 2, 3 emissions)

1 co.

Adoption provision 1

1 co.

Adoption provision 2

1 co.

Adoption provision 4

1 co.

Adoption provision 5

1 co.

Adoption provision 6

1 co.

Adoption provision 7

1 co.

Methodology

Data Source: Compliance ratings are deep-extracted from company sustainability and climate-related disclosure reports using structured analysis of NZ CS 1-4 sections.

Compliance Levels: Each NZ CS section is rated as Compliant (requirements met based on available evidence), Partial (some requirements addressed), or Gap (section not addressed in the disclosure). A company is Fully Compliant when all four sections are rated Compliant.

Adoption Provisions: Transitional relief measures permitted by the External Reporting Board (XRB) for first-time reporters. These allow companies to phase in certain quantitative disclosures such as anticipated financial impacts, transition plans, and Scope 3 emissions assurance.

Latest Year: Only the most recent reporting year per company is displayed. Historical data may be available in company-level views.

Data sourced from publicly available NZX filings and annual reports. Our datasets may not be complete. Automated analysis can produce errors. Scores are calculated using disclosed methodology and are analytical tools, not investment ratings or recommendations. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

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