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The Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have extended the timelines for implementing climate reporting (including external assurance) requirements, to support listed companies and large non-listed companies (Large NLCos) in developing reporting capabilities.
All listed companies will continue to report Scope 1 and 2 greenhouse gas (GHG) emissions from the financial year (FY) commencing on or after 1 January 2025, while Straits Times Index (STI) constituents will continue to lead efforts to implement other International Sustainability Standards Board-based (ISSB-based) climate-related disclosures (CRD) from FY2025 and Scope 3 GHG emissions from FY2026.
The extension of timelines takes into account the uncertain global economic landscape, as well as feedback to take into greater consideration the varying levels of resources and readiness in climate reporting. The time extension would allow them to build up data collection processes and learn from larger companies who have started to produce ISSB-based CRD.
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