Singapore's regulators, Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have proposed mandatory climate-related disclosures for public and large private companies in the country. The proposal aligns with the newly published disclosure standards of the International Sustainability Standards Board (ISSB) under the International Financial Reporting Standards (IFRS). The recommendation for mandatory climate reporting comes from the Sustainability Reporting Advisory Committee (SRAC), which was launched by the regulators to advise on a sustainability reporting roadmap. The proposal aims to support Singapore's position as a global business hub and contribute to the Singapore Green Plan 2030, the government's sustainable transition strategy aligned with the UN's Sustainable Development Agenda.

Source: ESGToday