SGX issuers reach 98% disclosure in governance, metrics under TCFD

Strategy and risk management disclosures also climb above 90%.

Governance and metrics and targets disclosures amongst Singapore Exchange (SGX)-listed issuers both reached 98% in 2025, according to the Climate Reporting Review 2025.

"Consistent with the 2023 and 2024 reviews, this suggests that establishing robust governance structures and defining meaningful, trackable metrics and targets are typically the initial steps issuers take to strengthen their climate reporting practices," according to the report.

Compared to the previous years, governance disclosures rose from 95% and 47% in 2024 and 2023 respectively, whilst metrics and targets rose from 92% and 68%.

Strategy disclosures also increased to 92% in 2025, up from 78% in 2024 and 47% in 2023, marking the largest year-on-year gain suggesting that more issuers are moving beyond governance and metrics to embedding climate-related considerations into their strategic planning and providing more decision-useful information to stakeholders, the report said.

Risk management disclosures, meanwhile, rose to 90%, from 78% in 2024 and 43% in 2023.