Another MASSIVE win on Climate Related Disclosures

ACT Leader David Seymour is welcoming moves to roll back mandatory climate reporting requirements for most companies, and says ACT will campaign to go further.

"We were right then, and we’re right now. ACT alone opposed this regime from day one. We voted alone against the law in 2021. We oppose every attempt to force ideological accounting rules onto businesses who just want to get on with serving their customers and rewarding their workers," says Mr Seymour.

“People are rightly concerned about high costs. Kiwis cannot afford Climate Related Disclosures that add cost without getting environmental results. Businesses already want to emit less, to avoid Emissions Trading Scheme costs. The paperwork was just virtue signalling. It’s another thing we’re fixing because the cost of living matters to New Zealanders.

"Labour wanted to turn every business into a climate activist. The result was higher compliance costs, fear of being ‘debanked’, and pressure on companies to play politics instead of growing wealth, hiring workers, and serving customers.

"Today’s announcement will save time and money for many businesses. That's good news for customers too. New Zealand doesn’t need another spreadsheet, we need capital flowing to the best ideas, not the best climate disclosures.

“This is yet another move reflecting ACT’s principled leadership. In recent times we’ve seen the Government reverse Earthquake Legislation and Zero Carbon Act targets. In these cases ACT voted alone against the entire Parliament, only to be proven right years later. In the case of the Oil and Gas Ban, only ACT and National opposed the ban, now there is a majority to reverse it.

"We wholeheartedly support this Government action, but we believe it could go further. Large entities like banks are still subject to this regime. That means lending decisions are influenced by climate checklists and not simply risk and return. ACT will be campaigning to get rid of this rubbish for all entities, including banks and insurers."