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Speaker 1: Changes to financial markets reporting are mandatory climate reporting threshold

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Speaker 1: is going to go from sixty million to a billion.

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Speaker 1: The claim as it costs a fortune to tell us

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Speaker 1: about the company's climate ideas and plans and impacts and

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Speaker 1: drives away investment. Apparently, Simon Beattie is the inzet Exis

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Speaker 1: general manager of Cooperative Affairs and Sustainability and as with

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Speaker 1: as Simon Morning Morning, Mike ca will you I'm well,

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Speaker 1: thank you, you into this.

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Speaker 2: Very pleased. These are very practical adjustments to the regime.

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Speaker 2: Man will be very welcomed by the listed market community.

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Speaker 1: Is it true that I wouldn't invest in something because

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Speaker 1: there's too much gobbledygook and a report about the climate

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Speaker 1: that may or may not be relevant to the company

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Speaker 1: I'm looking at.

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Speaker 2: Well, I'm not so sure about the ins and outs

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Speaker 2: of that. But what I can say around this regime

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Speaker 2: is that what we've had is essentially companies that have

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Speaker 2: had a market cap of sixty million or more they

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Speaker 2: have had to report that all disclosed their emissions, and

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Speaker 2: at the same time, their directors have become personally liable

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Speaker 2: for those statements and those emissions. And what that has

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Speaker 2: meant is that all the time, effort and money has

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Speaker 2: gone towards protecting directors around forward statements, around risk and

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Speaker 2: what's in the statements, rather than actually dealing with reducing emissions, transition,

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Speaker 2: et cetera. So that's where the focus has been and

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Speaker 2: hopefully these changes will reset and be tilt the balance.

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Speaker 1: So it's common sense, it's very practical.

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Speaker 2: And workable, and what we've been pushing for is a

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Speaker 2: regime that is right sized and workable for New Zealand.

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Speaker 1: Fantastic, Simon, appreciate the insight Simon bt inz X with

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Speaker 1: us this morning. I mean, I've looked at nz me's report.

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Speaker 1: I look at the report every year, mainly for photos

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Speaker 1: for me, but in there, the amount of climate nonsense

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Speaker 1: that's in there is unbelievable. I've got no idea what

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Speaker 1: Enzyme is a broadcasting company, has to do with the climates.

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Speaker 1: And I mean, I'll be I'm good for the environment.

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Speaker 1: I think they state that each year that the mic

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Speaker 1: Hosking breakfast has been proven to be good for the environment.

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Speaker 1: But apart from that, the amount of energy look at

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Speaker 1: the pages and pages, it's absurd. So we've got something

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Speaker 1: good happening.

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Speaker 2: For more from the mic Asking Breakfast. Listen live to

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