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New sustainability reporting rules for Singapore-listed companies
NEW "comply or explain" rules on sustainability reporting are in store for Singapore-listed firms.
The Singapore Exchange (SGX) will now require listed firms to publish a sustainability report at least once a year and no later than five months after the end of their financial year, it said in a press release on Monday.
The report should include five components: 1) material environmental, social and governance (ESG) factors; 2) the company's ESG policies; 3) its practices and performance; 4) targets; and 5) the sustainability reporting framework it has chosen.
Firms will also need to include a statement from their board that "describes the company's sustainability actions", the SGX said.
The bourse operator said that it would leave companies to determine its material ESG factors and choose which sustainability reporting framework to use.