SGX RegCo launches sustainability courses; board directors are required to attend
THE Singapore Exchange Regulation (SGX RegCo) launched 8 sustainability courses that directors of listed companies can attend to fulfil sustainability reporting rules which have taken effect since the beginning of the year.
These training courses are conducted by providers that represent different constituencies in the capital markets, said SGX RegCo in a media release on Thursday (Mar 17).
The training providers are Global Compact Network Singapore, PricewaterhouseCoopers and the Singapore Environment Council, in partnership with Enterprise Singapore.
The Institute of Singapore Chartered Accountants is another training provider, working in partnership with SAC Capital.
The Reit (real estate investment trust) Association of Singapore, the Singapore Institute of Directors and the University of Cambridge Institute for Sustainability Leadership, along with its partner Earth on Board, will also be conducting the courses.
Out of these 8 courses, 4 of them will begin in March, while the rest will commence either in May, July, October or the second quarter of this year.
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"To cater to the different needs of directors, the courses span different duration and are conducted virtually or in-person," read the statement by SGX RegCo.
To meet SGX sustainability reporting rules that require all board directors of equity issuers listed on the exchange to undergo sustainability training, directors of listed companies must attend one of the courses.
Companies are also required to provide confirmation that their directors have attended sustainability training in their first sustainability report for financial years commencing on or after Jan 1, 2022, and issued in 2023 or later.
Individuals who are first-time board directors of listed companies can meet the requirement by attending the listed entity directors' programme at the Singapore Institute of Directors from May this year.
SGX RegCo's head of listing policy and product admission Michael Tang said that these courses have been launched to train directors in an area that is increasingly crucial as they direct companies' long-term strategy and corporate governance.
"Changes and disruptions due to environmental, social and governance developments are already underway. Company directors must therefore have a good grasp of sustainability issues," he added.
READ MORE:
- SGX rolls out mandatory climate reporting for financial, energy issuers from 2023
- Singapore must embrace global ESG movements to stay competitive: SGX sustainability head
- SGX RegCo workshops to help listcos in climate-related reporting
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