"As CLC enters a new chapter, we do so with an unwavering resolve to deliver on the commitment the Coalition first set down in 2018, support stable long term policy settings and help Aotearoa New Zealand deliver a pathway to net zero by 2050 for a prosperous future," says Malcolm Johns, CLC convenor and chief executive of Genesis Energy.

"As the realities of climate action evolve, so too must our collective leadership."

"The launch of this new Statement of Ambition reflects that, placing greater emphasis on CEO-to-CEO collaboration, increased accountability, and practical partnerships with government to drive enduring change."

The new statement outlines specific CEO and business commitments in several key areas, including:

• Overall commitment to support New Zealand’s net zero 2050 goal by setting climate targets or goals that contribute to New Zealand’s transition.
• CEO commitment to further build climate knowledge, support teams to deliver climate action across businesses, and engage with board members on climate governance.
• Commitment to work with other CEOs to drive collaborative climate action efforts.
• Business commitments to embed climate considerations into business strategies, publicly report on past progress and future plans, and influence climate action across value chains through collaboration with wider sectors.
• Commitment to advocate for policies and initiatives that support CLC’s vision.

The new statement also reinforces CLC’s expectation of transparency for all signatories, while reflecting the evolution of climate reporting, which is now mandatory for some signatories. To avoid duplication of effort, where possible, the Coalition will rely on public disclosures to gather information to support signatory accountability and collective reporting on progress.

"Public transparency has always been a cornerstone of the Coalition’s work, and remains so. Signatories must continue to transparently report progress against their climate-related targets and goals, as well as their plans for the future."

A refreshed strategy underpins the commitments, anchoring the Coalition to New Zealand’s legislated 2050 climate targets.

Chief executive of the Sustainable Business Council (SBC) Mike Burrell says, "This refreshed strategy recognises the complexity of the journey ahead and the diversity of the Coalition’s sectors. Importantly, it ensures even the hard-to-abate sectors remain in the tent, ensuring New Zealand’s biggest climate challenges are tackled head-on. It’s designed to unlock impact, maintain momentum, and ensure our business leaders stay the course."

"Critically, it also positions the Coalition’s signatory businesses to harness the immense opportunities, particularly in potential economic and export growth, arising from the shift to a net zero economy."

The Coalition has this morning also announced the focus of its first major collaboration under the new Statement, which will focus on driving emissions reductions in the value chain.

"Signatories recognise scope 3 emissions present the biggest challenge, but also the greatest opportunity to reduce emissions, across the system. We look forward to sharing more information on this work as it’s developed," says Mr Burrell.

Both the new Statement and refreshed Strategy recognise climate action is not a task CLC can achieve alone, and reflect the Coalition’s steadfast commitment to work alongside government to advocate for stable policy and practical solutions for the betterment of all of New Zealand.

Mr Johns says, "With the launch of this new Statement and refreshed Strategy, we signal our unified commitment to maintain our momentum and continue to lead from the top by engaging our boards, empowering our teams, and building capability throughout our businesses to enable lasting change."

"We invite other businesses to join us and do the same."

The new Statement will replace the 2017, 2019 and 2022 Statements. Existing signatories and new signatories will have 18 months from joining, or until March 2027 (whichever comes first), to meet the new commitments.