FMA releases updated guidance on sustainability-related disclosures

12 May 2026

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Media Release
MR No. 2026 – 22

The Financial Markets Authority – Te Mana Tātai Hokohoko (FMA) has released updated guidance that provides issuers with greater clarity on what good practice looks like for the disclosure and communication of financial products with sustainability-related characteristics.

FMA Executive Director Response and Enforcement Louise Unger said, “The updated guidance supports issuers to provide investors with clear and accessible information on financial products with sustainability-related characteristics, such as environmental, social or value-based considerations, so investors can be confident that what they are investing in aligns with their investment objectives.”

The guidance sets out how existing fair‑dealing and disclosure obligations apply when issuers promote sustainability‑related characteristics in their financial products.

Changes have been made throughout the guidance in response to the feedback received through the consultation process, although the underlying principles from the draft guidance have not changed. As part of these changes, the guidance has been renamed -

Sustainability‑related disclosure guidance to better reflect current market practice.

The guidance is built around four core principles: claims need to be clear, claims need to be substantiated, messages need to be consistent, and third-party involvement is effectively managed.

“It’s important that investors have the information they need to understand the nature of the sustainability-related claims made about a product so they can make well-informed decisions about their investments.”

The guidance does not direct issuers how to invest. Issuers remain responsible for their investment decisions but must ensure that any promotion of sustainability‑related characteristics clearly discloses all material information and is not misleading.

It replaces guidance previously issued in the 2020 Disclosure Framework for Integrated Financial Products and the review observations contained in the 2022 Integrated Financial Products: Review of Managed Fund documentation.

Here are the links to each of the published documents on the FMA website:

Updated Sustainability‑related disclosure guidance [800KB]

Summary of Key themes [528KB]

Submissions Report [4.8MB]

ENDS

Media contact:
Media.fma@fma.govt.nz?subject=Enquiry%3A%20FMA%20releases%20updated%20guidance%20that%20provides%20more%20clarity%20on%20sustainability-related%20disclosures

Non-media queries:
questions@fma.govt.nz?subject=Enquiry%3A%20FMA%20releases%20updated%20guidance%20that%20provides%20more%20clarity%20on%20sustainability-related%20disclosures