The Financial Markets Authority (FMA) has outlined its focus areas for 2025-2026 reviews of climate-related disclosures (CRD). The key areas include addressing prior feedback, disclosing material climate-related risks and opportunities, complying with requirements, and obtaining independent assurance over greenhouse gas emissions disclosures. The FMA will provide verbal feedback to climate reporting entities (CREs) to help them improve their disclosures. The goal is to enhance the quality of CRD reporting, which will improve transparency of borrower climate risk exposures and support risk-based decision making for lending and investment. This will also mitigate greenwashing risks as assurance and regulatory scrutiny increase. The FMA expects CRD reporting to reach a “steady state” by 2026 and will release its next monitoring report in mid-2026, reflecting its third year of reviews. Overall, the FMA’s efforts aim to improve the quality and transparency of CRD reporting, which will benefit lenders, brokers, and institutional investors.
The FMA’s 2025 review to put climate risk reporting under the microscope
