On 28 February 2024, the Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation (“SGX RegCo“) announced details of mandatory climate-related disclosure for: (1) issuers listed on the SGX-ST (“listed issuers“) from financial year (“FY“) 2025; and (2) large non-listed companies limited by shares with annual revenue of at least S$1 billion and total assets of at least S$500 million (“Large NLCos“) (unless exempted) from FY 2027, as part of a finalised climate reporting and assurance implementation roadmap set out in the Response paper. This is following consultations on the recommendations from the Sustainability Reporting Advisory Committee.
SGX RegCo is separately conducting a public consultation on its proposals on the amendments to the listing rules of the SGX-ST to implement the above recommendations, as set out in its Consultation Paper on “Sustainability Reporting: Enhancing Consistency and Comparability” issued on 7 March 2024. The consultation closes on 5 April 2024.
This Update provides a snapshot of the upcoming and/or anticipated key mandatory climate reporting requirements for listed issuers and Large NLCos.
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