Singapore, a bustling city-state known for its innovation and forward-thinking approach, is making waves in the realm of sustainability reporting. With a focus on environmental, social, and governance (ESG) disclosure, Singaporean businesses are leading the charge towards a more sustainable future. In this article, we will explore some of the notable sustainability reporting trends emerging from Singapore, showcasing it’s commitment to transparency, responsibility, and a greener tomorrow.

1. Mandatory Sustainability Reporting
   Singapore has introduced mandatory climate-related reporting and is one of the first Asian countries to do so for non-listed companies. In line with the International Sustainability Standards Board (ISSB) standards, this initiative was recently announced by the Singapore Parliament. Listed companies will be the first to comply by 2025, followed by large non-listed firms in 2027. Initially, reporting requirements will focus on Scope 1 and 2 emissions, with Scope 3 emissions being added in subsequent years. While the obligations for smaller businesses are still under review, Singapore’s adoption of the ISSB standards will undoubtedly benefit local companies, providing them with improved market access, customer approval, and investor engagement by adhering to globally recognized climate disclosure standards.
2. Integrated Reporting
   Another notable trend is the growing adoption of integrated reporting. Integrated reporting aims to provide a more complete picture of a company’s performance by linking financial and non-financial information. This includes social and human capital, you are essentially providing non-financial information with traditional financial metrics. Many Singaporean companies have embraced this approach, recognising the importance of communicating their value creation story to stakeholders. By integrating financial and sustainability data, these companies are able to demonstrate how their ESG initiatives are contributing to their overall business strategy and long-term success.
3. Climate-related Disclosures
   As the global focus on climate change intensifies, Singapore has also seen a heightened emphasis on climate-related disclosures in sustainability reporting. In line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Singaporean companies are increasingly reporting on their climate-related risks, opportunities, and strategies. This trend is particularly significant given Singapore’s vulnerability to the impacts of climate change.
4. Stakeholder Engagement and Materiality Assessment
   Singaporean companies are placing greater emphasis on stakeholder engagement and materiality assessment in their sustainability reporting. Rather than simply reporting on a predetermined set of ESG factors, these companies are actively engaging with their stakeholders to identify the issues that are most relevant and important to them. This approach has led to more targeted and meaningful sustainability reporting, as companies are able to focus on the ESG topics that have the greatest impact on their business and stakeholders.
5. Adoption of Sustainability Reporting Standards
   Finally, Singaporean companies are increasingly adopting global sustainability reporting standards, such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). The use of these standardised frameworks helps to improve the consistency, comparability, and credibility of sustainability reports, making them more useful for investors and other stakeholders. It also provides a solid foundation for businesses to incorporate sustainability into their reporting practices, ensuring that sustainability is not just a buzzword but a core component of business operations.

The sustainability reporting landscape in Singapore is evolving rapidly, with several key trends emerging that are shaping the way businesses approach sustainability disclosure. From mandatory reporting requirements to integrated reporting, climate-related disclosures, stakeholder engagement, and the adoption of global standards. By embracing these trends, companies in Singapore are not only meeting stakeholder expectations but also positioning themselves as responsible and forward-thinking leaders in their respective industries. As the world increasingly recognizes the importance of sustainability, Singapore’s sustainability reporting trends serve as an inspiration for businesses worldwide, showcasing the positive impact that transparent and responsible reporting can have on building a more sustainable future.