Singapore SGX Sustainability Reporting

The Singapore Exchange (SGX) has progressively strengthened its sustainability reporting requirements, mandating climate-related disclosures aligned with TCFD recommendations for all listed issuers and moving toward ISSB-aligned reporting from 2025.

SGX first introduced sustainability reporting on a "comply or explain" basis in 2016 through Listing Rules 711A and 711B. Requirements were significantly enhanced in December 2021 with mandatory climate reporting for certain sectors, and further strengthened in 2024 with the announcement of ISSB-aligned mandatory climate disclosures.

Current Requirements

All SGX-listed issuers must publish an annual sustainability report covering material ESG factors. The report must describe the issuer's sustainability practices with reference to a recognised framework (GRI, SASB, TCFD, or ISSB). Mandatory components include board oversight of sustainability, materiality assessment, policies and practices for material ESG factors, targets, and performance metrics.

Climate-related disclosures aligned with TCFD are mandatory for issuers in the financial, agriculture, energy, and transportation sectors (since FY2023) and for materials and buildings sectors (since FY2024). From FY2025, all listed issuers must provide TCFD-aligned climate disclosures regardless of sector.

ISSB Adoption Roadmap

Singapore has announced a phased roadmap for mandatory ISSB-aligned sustainability reporting. Large listed companies (by market capitalisation) will be required to report under IFRS S1 and S2 from FY2025, with medium-sized companies following from FY2026 and smaller companies from FY2027. The Accounting and Corporate Regulatory Authority (ACRA) and SGX are developing implementation guidance.

Assurance Requirements

SGX requires listed issuers to subject their sustainability reports to internal review. External assurance is currently encouraged but not mandatory, though the roadmap toward ISSB adoption includes plans for phased mandatory assurance requirements. SGX has published guidance on assurance standards and practitioner qualifications.

Further Reading

• SGX Sustainability — Official SGX sustainability page
• SGX Listing Rules — Regulatory requirements

Related Topics

• Singapore ESG Requirements
• ASEAN ESG Frameworks
• IFRS S1 & S2\n