For a country that trades on its green brand and reputation as a reliable international counterpart, there is no realistic alternative to meeting our climate commitments. Failure to do so would entail serious financial risks.
Remark: Recently in a meeting room in London, the International Accounting Standards Board decided that companies' climate goals were not just about sustainability: they could have direct financial consequences for companies' balance sheets.
And since this board's interpretation decisions also inform public sector accounting, it also provides guidance on how public entities, councils and countries are held financially accountable for the costs of meeting climate targets. It has potential billion-dollar implications for the New Zealand government's financial statements.
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