Proposed Mandatory Climate Reporting for Listed Issuers and Large Non-Listed Companies

From 6 July 2023 to 30 September 2023, the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) sought views on recommendations and proposals in the Consultation Paper containing the Sustainability Reporting Advisory Committee's (SRAC) recommendations to implement mandatory climate reporting requirements in a tiered and phased manner, beginning with issuers of equity securities on the Singapore Exchange Securities Trading Limited (Listed Issuers), and extending these requirements to large non-listed companies (NLCos) above a certain annual revenue threshold via the Companies Act 1967, among other recommendations and proposals.

The key recommendations and proposal are as follows:

1. Mandatory climate reporting disclosure (CRD) requirements;
2. International Sustainability Standards Board (ISSB) Standards as baseline requirements subject to reliefs;
3. External assurance requirements; and
4. Reporting and filing timelines.

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