Sustainability reporting in Singapore is governed by the Singapore Exchange (SGX) and the Accounting and Corporate Regulatory Authority (ACRA).
The SGX requires all listed companies to submit a sustainability report in their annual report, on a "comply or explain" basis. This means that companies are not required to submit a sustainability report, but if they do not, they must explain why.
The sustainability report should contain information on the company's environmental, social and governance (ESG) performance, including its policies, practices and performance in relation to material ESG factors. The report should also be prepared in accordance with the SGX's sustainability reporting guidelines.
The ACRA has established a Sustainability Reporting Advisory Committee to provide guidance on sustainability reporting in Singapore. The committee is made up of representatives from industry, government and academia.
In addition to the SGX and ACRA requirements, there are a number of other sustainability reporting frameworks that companies in Singapore can adopt. These include the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).
The TCFD is particularly important in Singapore, as the government has proposed making climate-related disclosures mandatory for listed and large non-listed companies from 2025.
The mandatory climate reporting requirements are still in the consultation stage, but they are a significant step forward for sustainability reporting in Singapore. The requirements will help to ensure that companies are transparent about their climate impact and are taking steps to mitigate it.
Here are some of the benefits of sustainability reporting in Singapore:
It can help companies to identify and manage their ESG risks.
It can improve a company's reputation and attract investors.
It can help to reduce costs and improve efficiency.
It can create a more sustainable supply chain.
It can help to build a more resilient business.
If you are a company in Singapore, consider adopting a sustainability reporting framework. It is a good way to demonstrate your commitment to sustainability and to improve your business performance.
How Bestar can Help
Bestar is a sustainability consulting firm that helps companies in Singapore to improve their sustainability performance and reporting. They offer a range of services, including:
Sustainability strategy development
Sustainability reporting
ESG risk management
Sustainable supply chain management
Carbon footprint reduction
Green building design
Bestar has a team of experienced consultants who are experts in sustainability reporting. They can help you to:
Select the right sustainability reporting framework
Collect and analyze data
Write your sustainability report
Publish and disseminate your report
Bestar can also help you to comply with the SGX and ACRA sustainability reporting requirements. They can also help you to prepare for the mandatory climate reporting requirements that are being proposed by the Singapore government.
If you are a company in Singapore that is looking to improve your sustainability reporting, Bestar can help you to get started. They offer a comprehensive range of services that can help you to meet your sustainability goals.
Here are some of the specific ways that Bestar can help with sustainability reporting in Singapore:
They can help you to identify the material ESG factors for your business.
They can help you to collect and analyze data on your ESG performance.
They can help you to develop a sustainability reporting framework that is tailored to your business.
They can help you to write your sustainability report in a clear and concise way.
They can help you to publish and disseminate your sustainability report to your stakeholders.
Bestar is a trusted advisor to many of the leading companies in Singapore. They have a proven track record of helping companies to improve their sustainability performance and reporting. If you are looking for a partner to help you with your sustainability reporting, Bestar is a great option.
Here are some of the reviews of Bestar from their clients:
"Bestar helped us to develop a comprehensive sustainability strategy that has helped us to reduce our environmental impact and improve our bottom line." - CEO of a large manufacturing company
"Bestar's sustainability reporting services were invaluable in helping us to comply with the SGX requirements. They were also very helpful in helping us to communicate our sustainability performance to our stakeholders." - CFO of a listed company
"Bestar's ESG risk management services have helped us to identify and mitigate our ESG risks. This has helped us to improve our reputation and attract investors." - Head of Sustainability of a financial institution
If you are interested in learning more about how Bestar can help you with sustainability reporting in Singapore, you can visit their website or contact them to schedule a consultation.
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