New Zealand hasn't been walking the talk on climate risk, finds a sweeping new analysis of hundreds of annual reports and statements.
Climate change threatens hundreds of billions of dollars of property and infrastructure, and will require an economy-wide shift toward lower emissions. However, of more than 380 large organisations analysed, just 40 recognised the risks as of serious concern—suggesting that boards either opted not to publicly disclose the implications, or didn't discuss them at all. "Both are horrific—but the latter is particularly more horrific," said Wendy McGuinness, chief executive of Wellington-based think-tank the McGuinness Institute.
She was further alarmed to find little reporting from the public sector. Nearly two-thirds of annual reports of 11 government departments—and more than three-quarters of statements from other Crown bodies and entities—did not contain even one mention of the words emissions, carbon, or climate. "That was quite surprising and disappointing to me—I expected a lot more from government," said McGuinness.