Who does this affect: All issuers listed on the Singapore Exchange, SGX
Why has it been introduced: The Singapore Exchange introduced this mandate following a public consultation on sustainability reporting that received broad support. The market in Singapore has voiced their recognition of the need to provide decision-makers increased climate information as they allocate assets, extend financing, and price risks.
What does it require: Climate-related financial risk disclosure, including GHG emissions, in line with the TCFD. “This is a first step to better prepare issuers for reporting against anticipated global baseline sustainability reporting standards to be developed by the International Sustainability Standards Board,” explains the SGX.
When would it come into effect: A phase-in period spans from financial year 2022-2024 based on industry, with comply-or-explain provisions during the phase-in period.
Where is reporting required: In annual reports, and to be made available on SGXNet and on the company website.
Original text: Enhancements to Sustainability Reporting Regime and Board Diversity Disclosures