【协力】2024新加坡的环境、社会及管治（ESG）报告监管要求分析报告

Summary of ESG Reporting Requirements in Singapore

Core Content

Singapore has been increasingly focusing on ESG (Environmental, Social, and Governance) reporting as part of its broader sustainability strategy. The Singapore Exchange (SGX) plays a central role in shaping these requirements, mandating all listed companies to disclose their sustainability practices and performance in annual reports through a "comply or explain" approach. This reporting is designed to complement financial disclosures, showing how ESG risks and opportunities are managed.

The Green Plan 2030 is a key initiative that outlines Singapore's sustainability roadmap, aiming to advance national sustainable development by 2030. The government is also promoting Singapore as a green finance hub, with the Monetary Authority of Singapore (MAS) launching the Green Finance Action Plan (GFAP) in 2019 and the Singapore Sustainable Finance Association (SSFA) in 2024 to support this goal.

Main Regulatory Requirements

• Mandatory ESG Reporting: Since 2016, all listed companies in Singapore have been required to publish annual sustainability reports. From 2024, this requirement extends to the building materials and transportation industries.
• Climate-Related Disclosures: Starting in 2025, all listed companies must include climate-related disclosures aligned with the International Sustainability Standards Board (ISSB) standards. From 2027, this also applies to non-listed companies with a market value over S$1 billion and total assets of at least S$500 million.
• Independent Verification: From 2025, listed companies and large non-listed companies will need to obtain independent verification of their Scope 1 and Scope 2 emissions. Scope 1 refers to direct emissions from owned or controlled sources, while Scope 2 is indirect emissions from purchased energy.

Key Components of a Sustainability Report

1. Material ESG Factors: Companies must identify and disclose ESG factors that significantly impact their business continuity and value chain.
2. Climate-Related Disclosures: These must follow TCFD recommendations and include both sector-specific and general guidelines.
3. Policies, Performance, Practices, and Targets: Companies should outline their ESG-related targets, policies, and performance metrics across short, medium, and long-term timeframes.
4. Sustainability Reporting Framework: A suitable framework should be selected based on stakeholder expectations, location, sector, impact potential, and coverage.
5. Board Statement and Governance Structure: The Board of Directors is responsible for overseeing ESG issues and ensuring that sustainability is integrated into the company's strategy and success.

ESG Metrics and Frameworks

The SGX recommends 27 core ESG metrics for sustainability reporting, which are periodically reviewed to align with international standards. These metrics cover environmental, social, and governance aspects and can be quantified or presented as yes/no responses.

Some of the major ESG frameworks include:

• Future-Fit Business Benchmark
• World Economic Forum
• Task Force on Climate-related Financial Disclosures (TCFD)
• Global Reporting Initiative (GRI)
• Carbon Disclosure Project (CDP)
• Sustainability Accounting Standards Board (SASB)
• Climate Disclosure Standards Board (CDSB)
• International Integrated Reporting Council (IIRC)
• International Sustainability Standards Board (ISSB)
• EU Corporate Sustainability Reporting Directive (EU CSRD)

Tools and Platforms

MAS has introduced the Gprint platform, a digital tool designed to simplify ESG data collection and reporting for the financial sector. It integrates with existing business systems, such as bookkeeping and payment gateways, and uses intelligent document processing to extract and analyze data. Gprint supports SMEs and helps automate ESG reporting, reduce costs, and align with global standards.

Related Reading and Resources

• An Introduction to Doing Business in ASEAN 2024 covers corporate establishment, tax and accounting, HR, audit and compliance.
• Opportunities in Singapore's Manufacturing Sector in the Era of Industry 4.0 discusses the country's growth potential and incentives for foreign businesses.

Contact Information

Dezan Shira & Associates offers professional services and strategic advisory to help businesses navigate ESG reporting in Singapore and other ASEAN countries. For more information or to arrange a consultation, contact:

• Email: asean@dezshira.com
• Website: www.dezshira.com

Additional Resources

• Asiapedia: A collection of resources based on the firm's extensive experience in Asia.
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