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Corporate management and reporting of environmental and social matters in New Zealand: the rules, evidence and analysis

Version 2 2024-06-18, 09:06
Version 1 2018-06-18, 16:03
journal contribution
posted on 2024-06-18, 09:06 authored by GL North
Empirical studies consistently highlight the commercial gains achieved by corporations that have long-term strategies and plans founded on principles of environmental and social sustainability. Hence the ability of companies to appropriately manage and report on business risks and environmental and social matters is receiving increasing attention from investors, other stakeholders, and policy makers. New Zealand has recently strengthened its corporate governance recommendations around the management and reporting of business risks and environmental and social matters, and there are further corporate statutory and listing rules that may apply to this form of reporting. This article examines the role and impact of this integrated legal framework, with a focus on the rules governing the provision of management discussion and analysis. It finds that the overall quality and usefulness of corporate reporting on environmental and social risks are below best practice and the regulatory pressures on companies to improve the quality of this form of reporting are weak. The article concludes that listed corporations and policy makers in New Zealand have yet to fully absorb the financial, reputational, and other consequences when environmental and social risks are inadequately managed and reported.

History

Journal

New Zealand business law quarterly

Volume

23

Pagination

240-258

Location

New York, N.Y.

ISSN

1173-311X

Language

eng

Publication classification

C1 Refereed article in a scholarly journal, C Journal article

Copyright notice

[2017, Thomson Reuters]

Publisher

Thomson Reuters