Singapore Strengthens Corporate Climate Disclosure

The Singapore government, through the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo), has introduced new reporting mandates aimed at enhancing corporate transparency regarding environmental, social, and governance (ESG) impacts. These updates align with global standards set by the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards established by the International Sustainability Standards Board (ISSB).

Who Needs to Report?

Listed Companies

Scope 1 & 2 (2025), Scope 3 (2026)

Non-listed Companies S$ 1 Bn Revenue S$ 500 Mn Assets

Scope 1 & 2 (2027), Scope 3 (2029)

What to Report?

Companies are expected to provide comprehensive disclosures that include:

Detailed metrics on carbon emissions and resource utilisation.

Social contributions and governance practices.

Adherence to international standards and protocols such as the United Nations Sustainable Development Goals (SDGs).

Key Updates in Sustainability Reporting:

Enhanced Disclosure Requirements

Detailed disclosures is mandated on ESG impacts, aligning with IFRS standards.

Materiality Assessments

Identification and prioritization of relevant ESG risk factors can create an efficient roadmap of the company’s sustainability agenda.

Stakeholder Engagement

Integrating stakeholder feedback into reporting practices is a part of stakeholder engagement.

Alignment with International Frameworks

Alignment with global sustainability frameworks ensures local practices meet international expectations.

For organizations operating in new environments, it is crucial to invest in robust data management systems, engage stakeholders effectively, and continuously refine sustainability strategies. By doing so, companies can not only comply with regulations but also set the pace for positive change for the benefit of the environment and people.

Singapore Sustainability Reporting Mandate