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SGX RegCo organises climate-related disclosures workshops

Disclosures will be mandatory from 2023.

The Singapore Exchange Regulation (SGX RegCo) will be conducting workshops to help listed companies prepare for climate-reporting requirements.

The workshops, focused on the Task Force on Climate-related Financial Disclosures recommendations, are for individuals producing their companies’ sustainability reports. Attendees will learn to identify climate-related risks, opportunities and processes to implement climate reporting.

Climate disclosure rules were announced in December 2021 after a public consultation. All companies must provide disclosures on a ‘comply or explain’ basis in their sustainability reports for financial years (FY) starting on or after 1 January 2022. Reports under the new rules will be first published in 2023. The disclosures will be mandatory from FY 2023 for financial, agriculture, food and forest products, and energy industries. The materials and buildings, and transportation industries must do the same from FY 2024.

"Investors are seeking climate-aligned investments while banks and insurers are integrating climate risks into their decisions. We hope that our issuers will take advantage of these subsidised workshops to equip themselves to meet the informational demands of these stakeholders," said the head of listing compliance June Sim.

The sectoral workshops will be conducted by sustainability professionals and coordinated by Global Compact Network Singapore, the Singapore chapter of the United Nations Global Compact. The first workshop is expected to be held in April, with subsequent workshops at regular intervals thereafter.

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