1. Green Wash or Green to the Core? Pushing the business world to take sustainability seriously James Hassall Senior Associate NZSSES Talking and Walking Sustainability Conference February 2007

2. Key Points 1.New Zealand has a light-handed approach to sustainability within business 2.There are large and building external pressures on businesses to act in a sustainable manner. New Zealand businesses may be less aware of these pressures. 3.Regulation could help businesses who are currently voluntarily reporting on sustainability, and could help consumers who are interested in sustainable information.

3. The current statutory framework in New Zealand Resource Management Act 1991 o Core purpose – ‘sustainable management’ o Role in decision making Local Government Act 2002 o The four wellbeings o Long-term decision making Reporting requirements facilitative o Financial Reporting Act 1993 o Fair Trading Act 1986

4. External pressures on Business CDP4 US$31.5 trillion dollars of investment backing 1900 companies surveyed worldwide 72% response rate 32 NZ companies surveyed in 2006 5 responded with only 1 making the responses available online

5. External Pressures on business BP Global Emissions

6. External pressures on Business TBL/CSR reporting Voluntary in NZ Look at economic, social and environmental performance Consumer Interests Product labeling ‘Green’ alternatives

7. Governmental approaches New Zealand Light-handed Voluntary California New legislation GHG targets for reduction Australia CSR study Regulation not currently required UK New Companies Act Sustainability reporting required

8. Green wash or green to the core? New Zealand has a light-handed approach to sustainability within business There are large and building external pressures on businesses to act in a sustainable manner. New Zealand businesses are less aware of these pressures. Regulation could help businesses who are currently voluntarily reporting on sustainability, and could help consumers who are interested in sustainable information Being green on the outside is no longer enough

9. Questions ?