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The Conversation
Charl de Villiers, Professor of Accounting, University of Auckland, Waipapa Taumata Rau

Without sanctions, making companies disclose their environmental and social impacts has limited effect

Environment European Union New Zealand

As of last year, New Zealand’s largest companies and financial institutions have been required to disclose their climate-related risks and opportunities in their annual reports and regulatory filings.

This follows a global trend for businesses to be more upfront about their social and environmental impact. Companies are increasingly expected to provide safe and environmentally friendly products, and ensure all their activities are socially and environmentally responsible.

But does requiring businesses to report these things actually push them to make better decisions around climate and sustainability? While it is too early to tell from the New Zealand experience, a decade of data from Europe offers a better insight.

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