From compliance to sustainability: The impact of the NZX governance code on environmental reporting
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Other Title
Authors
Hewagama, Gayani
Rainsbury, Elizabeth
Dassanayake, Wajira
Rainsbury, Elizabeth
Dassanayake, Wajira
Author ORCID Profiles (clickable)
Degree
Grantor
Date
2025-04-30
Supervisors
Type
Journal Article
Ngā Upoko Tukutuku (Māori subject headings)
Keyword
New Zealand
New Zealand Stock Exchange (NZX)
listed companies
ESG reporting
sustainability reporting
corporate governance
New Zealand Stock Exchange (NZX)
listed companies
ESG reporting
sustainability reporting
corporate governance
ANZSRC Field of Research Code (2020)
Citation
Hewagama, G., Rainsbury, L., & Dassanayake, W. (2025). From Compliance to Sustainability: The impact of the NZX Governance Code on Environmental Reporting. Asia-Pacific Management Accounting Journal, 20 (1), 183-206.
https://doi.org/10.24191/apmaj.v20i1-07
Abstract
This paper examined changes in environmental reporting following the introduction of the New Zealand Stock Exchange (NZX) Corporate Governance Code, which recommends reporting of environmental, social, and governance (ESG) information. The environmental disclosures of the top 50 NZX companies from 2016–2020 were analysed, comparing reporting pre-(2016–2017) and post-(2018–2020) introduction of the ESG guidance. Univariate and multivariate statistical analyses were used to examine changes in environmental reporting over these periods. The ESG guidance significantly improved environmental reporting, but not all companies disclosed information, indicating the need for stronger regulations. The study examined the trend in environmental disclosures, before and after implementation of the ESG guidance note, in the context of New Zealand’s transition to mandatory climate reporting for listed companies. The study provides evidence of listed companies responding to listing requirements to provide greater transparency to capital markets regarding the environmental impact of their operations on the environment. The most frequently reported environmental disclosure was greenhouse gas emissions, widely recognised as a primary contributor to climate change.
Publisher
Asia-Pacific Management Accounting Association (APMAA)
Universiti Teknologi MARA (UiTM)
Universiti Teknologi MARA (UiTM)
Permanent link
Link to ePress publication
DOI
https://doi.org/10.24191/apmaj.v20i1-07
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Authors
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