Singapore Extends Climate Reporting Timelines for Smaller Companies

Singapore’s regulators eased climate reporting requirements for smaller firms by pushing back most ISSB-based disclosures. While all listed companies still had to begin reporting Scope 1 and 2 greenhouse gas (GHG) emissions from FY2025, deadlines for broader disclosures were extended to give businesses more time to prepare. The revised framework introduced a three-tier approach: Straits Times Index (STI) companies, non-STI companies with market capitalization above $1 billion, and those below $1 billion. STI companies stayed on the original schedule, with Scope 3 reporting starting in FY2026. Larger non-STI firms were given until FY2028 to begin ISSB-based disclosures, while smaller non-STI companies had until FY2030. Scope 3 remained voluntary for non-STI firms. Large non-listed companies also saw their timelines pushed back. Scope 1 and 2 reporting shifted from FY2027 to FY2030, with external assurance requirements deferred to FY2032. Regulators explained that the move was aimed at balancing capability-building with compliance, especially since only a small fraction of smaller firms felt ready for the earlier deadlines. By staggering the requirements, Singapore sought to maintain momentum on its 2050 net-zero target while giving smaller businesses the space to strengthen systems, improve data quality, and build confidence in sustainability reporting.