Gov't to require statutory boards to publish yearly sustainability disclosures

Nearly 100% of eligible SGX-listed firms disclosed climate reports.

Singapore government is seeking to mandate statutory boards to publish sustainability disclosures every year starting the fiscal year 2024, Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat said in a speech.

The bourse has already required eligible listed firms to report their sustainability goals, achievements, and so on. Now, Heng reported that even small and medium cap issuers, which comprise around 85% of SGX-listed issuers, posted the strongest improvement in scores between this year and 2019 when the first review was conducted.

"As leaders of listed companies, you have a responsibility to steer your enterprises not only for short-term profits but also long-term success," said Heng.

Heng also announced that 99.6% of eligible listed companies, practically all of them, released their latest sustainability reports in time to be assessed.

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