Acra, SGX RegCo set up Sustainability Reporting Advisory Committee 

THE Accounting and Corporate Regulatory Authority (Acra) and the Singapore Exchange Regulation (SGX RegCo) have jointly set up a committee to advise on a sustainability reporting roadmap for Singapore-incorporated companies.

The Sustainability Reporting Advisory Committee (SRAC) will provide input on the suitability of international sustainability reporting standards for implementation in Singapore, Acra and SGX RegCo said in a joint press release on Tuesday (Jun 21). 

Both organisations are working on developing a roadmap for wider implementation of sustainability reporting for Singapore-incorporated companies, beyond companies listed on the SGX. 

They also noted that the growing interest in environment, social and governance (ESG) issues globally has led to a call to provide greater transparency and assurance on companies’ ESG-related information, which investors and other stakeholders can incorporate into their decision making. 

The SRAC will be chaired by Esther An, chief sustainability officer of City Developments, and also brings together industry leaders and champions of sustainability with diverse experience. These include chief sustainability officers, representatives of financial institutions, institutional and retail investors, sustainability reporting professionals and academia.

Lam Yi Young, chief executive of the Singapore Business Federation, is the committee’s deputy chairperson. 

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KPMG Singapore partner Chan Yen San, Temasek International’s managing director for finance and head of investment services Grace Goh, and DBS chief sustainability officer Helge Muenkel are among the other members of the SRAC. 

Said An: “Effective ESG integration and disclosure are critical to accelerating global efforts to build a greener and more resilient future for all.

“I believe that the collective efforts of this committee will complement Acra and SGX RegCo’s initiatives to rally corporates and stakeholders to contribute towards the Singapore Green Plan 2030 and the global agenda on sustainable development.”