08/04/2024

Singapore mandates climate reporting for companies starting with 2025

Social responsibility

Singapore mandates climate reporting for companies starting with 2025

Singapore will enforce mandatory climate reporting requirements for listed and large non-listed companies, aligning with IFRS’ International Sustainability Standards Board (ISSB) standards starting in 2025.

The phased approach begins with listed companies in 2025, followed by large non-listed ones in 2027.

Listed companies must report Scope 1 and 2 emissions initially, expanding to Scope 3 in 2026, with external assurance required two years later.

Large non-listed firms follow a similar timeline, with Scope 3 reporting no earlier than 2029.

The government may extend reporting obligations to smaller companies based on reviews.

Efforts to enhance sustainability reporting competencies will be intensified, benefitting companies with improved market access. SGX RegCo CEO Tan Boon Gin emphasizes Singapore’s advantageous position in the green economy due to early climate reporting adoption by SGX-listed issuers.

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