Fisher Funds has published reports on how climate change is currently impacting our funds and how it may impact the funds in the future. These reports are known as climate statements.
The first climate statements for our funds with a financial year end of 31 March 2024 are available on our Responsible Investing web page, and on the Climate-related Disclosure Register.
Why climate statements are important
Climate statements report against the Aotearoa New Zealand Climate Standards issued by the External Reporting Board (XRB). The Climate Standards are intended to enable investors to:
assess the merits of how entities like Fisher Funds are considering the climate-related risks and climate-related opportunities that climate change presents to the performance of their funds, and
make decisions based on this information.
What our statements include
Our climate statements are structured around the four core elements of the Climate Standards:
governance – to explain the role of Fisher Funds Board and our team in overseeing climate-related risks and opportunities for our funds
strategy – to enable investors to understand how climate change is impacting their funds now, and in the future
risk management – to enable investors to understand how Fisher Funds identifies the climate-related risks and opportunities relevant to their funds
metrics and targets – to enable investors to understand how Fisher Funds measures the climate-related risks and opportunities relevant to their funds and to enable investors to compare their funds with other funds.
How we assessed our funds
To assess the current impacts of climate change on our funds, Fisher Funds completed climate risk and opportunity assessments for all our funds. As part of this process, we considered both physical risks, such as the impact of flooding, wildfires and higher temperatures on the businesses your fund invests in, as well as the associated risks for the transition to the economy in a low carbon future (sometimes called “transitional risks”) which can impact the economy and financial markets more broadly. We then looked at three different plausible futures to understand the possible impacts of climate change on our portfolios over the short, medium and long term.
Take a look at the climate statements for more detailed information about our assessment process.
Navigating climate statements
The Financial Markets Authority (FMA) and the XRB have produced a guide to give you an overview of the CRD regime.
They have also produced a more detailed explanation of the information disclosed in climate statements and what you can learn from them – read how to navigate climate statements on the XRB website.
New Zealand’s climate reporting policy
New legislation passed in 2023 requires Fisher Funds to start reporting on how climate change is currently impacting our funds now and in the future.
The government expects that mandatory climate-related reporting will help New Zealand meet its international obligations to achieve the target of net zero emissions by 2050 by:
ensuring the effects of climate change are routinely considered in business, investment, lending and insurance underwriting decisions
helping climate reporting organisations better show their responsibility and forward planning in considering climate issues
leading to more efficient allocation of capital, and help smooth the transition to a more sustainable, low emissions economy.
Source: MBIE
The XRB has said that the ultimate aim of the Aotearoa New Zealand Climate Standards is to support the allocation of capital towards activities that are consistent with a transition to a low emissions, climate resilient future.
Need help?
You can now download and read the climate statements. If you have any questions about them, or about your investment, our team is happy to help. You can email us, chat to us online or call us on 0508 347 473.
