Climate disclosure reports, first published in early 2024, were meant to help investors see which companies were prepared for a warmer, riskier world. Photo: Getty ImagesThe coalition government has gutted New Zealand's once world-leading climate disclosure law, just months after officials showcased it to the United Nations as evidence of "significant progress" on climate action. Other companies complained the regime was too onerous compared with Australian companies of a similar size; and they feared prosecution from sharing climate information. "New Zealand led the world by introducing the first climate related disclosures regime in 2022," Palairet said. The Biennial Transparency Report was drafted at the same time as the discussion document proposing changes to the disclosures regime.