SGX RegCo should mandate companies to bite the bullet on Scope 3 emissions reporting
The organisation faces the difficult task of pushing for more climate-related disclosures without overburdening issuers with compliance requirements
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IT WAS hardly a surprise when the Singapore Exchange Regulation (SGX RegCo) recently announced that listed companies would be required to report their Scope 1 and 2 greenhouse emissions, as well as other climate-related disclosures aligned with the framework developed by the International Sustainability Standards Board (ISSB) from financial year 2025.
After all, many listed companies in Singapore have already been reporting their Scope 1 and 2 emissions – on a voluntary basis – which refer to emissions arising from their operations and purchase of electricity. According to the 2023 sustainability reporting review, 68 per cent of issuers were reporting their Scope 1 emissions, while 83 per cent were disclosing Scope 2.
What was somewhat unexpected was the scaling back on the reporting of Scope 3 emissions.
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