Insights from SGX RegCo's Biennial Study on Sustainability and Climate Reporting in Singapore

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Written

07.12. 2023

Author

Gabrielle See

Source

Eco-Business

Social

A recent biennial study conducted by the Singapore Exchange Regulator (SGX RegCo) points to a generally improved landscape in sustainability reporting among listed companies in Singapore. However, the study also notes a significant deficiency in comprehensive climate-related disclosures. The study highlights deficiencies in board and management involvement and a lack of climate transition plans.

These findings are particularly disappointing after SGX adopted a phased approach to mandatory climate reporting that has begun for listed companies in five specific sectors: financial; energy; agriculture; food; and forest products. SGX RegCo’s CEO considers the study’s results as a ‘reality check’. He emphasizes the urgency for companies to accelerate their adherence to the recently introduced climate-reporting requirements and encourages them to adopt internationally recognized reporting frameworks to disclose information in a more “structured and comparable manner”. Such an approach would facilitate effective benchmarking by investors.