ESG Services

The world is grappling with numerous environmental challenges, including climate change, as rising temperatures become increasingly evident across different regions. At the same time, awareness of social issues such as inequality and human rights is growing, while governance practices related to corruption and corporate transparency are facing heightened scrutiny.

In response, the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have initiated a public consultation on recent recommendations from the Sustainability Reporting Advisory Committee (SRAC) to enhance climate reporting in Singapore. The key recommendations include:

• Mandatory Climate-Related Disclosures (CRD): Listed companies will be required to report climate-related disclosures aligned with the International Sustainability Standards Board (ISSB) framework starting from financial year (FY) 2025, with large non-listed companies (annual revenue of at least $1 billion) following in FY 2027.

• External Assurance on Greenhouse Gas Emissions: Companies subject to mandatory climate reporting must obtain external assurance for Scope 1 and Scope 2 greenhouse gas emissions from FY 2027 for listed companies and FY 2029 for large non-listed companies.

• Alignment with Financial Reporting Timelines: Climate-related disclosures should follow the same reporting and filing timelines as financial statements to ensure timely communication with shareholders and other stakeholders.

We recognize that every business faces unique ESG challenges. Our multidisciplinary team is equipped to help you navigate these complexities, aligning your sustainability strategy with regulatory expectations while enhancing competitive advantage, protecting stakeholder value, and supporting your broader business goals.