Mandatory climate disclosures, diversity targets: get on board or risk getting left behind
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SINGAPORE Exchange Regulation (SGX RegCo) announced last month proposed enhancements to its sustainability reporting regime, including a roadmap towards mandatory climate reporting, assurance for sustainability reports and common environmental social and governance (ESG) metrics. To enhance board diversity, SGX RegCo also proposed mandatory disclosures on board diversity targets, plans and timelines.
The various enhancements are timely given the increasing focus from investors worldwide on such issues, and may help locally listed companies win institutional investors.
Boards and management of companies should therefore embrace the proposals and take their responsibilities for these disclosures seriously.
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