Singapore has officially introduced mandatory climate-related reporting requirements for listed and large non-listed companies, aligning with IFRS ISSB standards by 2025. The phased approach, recommended by the Sustainability Reporting Advisory Committee, begins with listed companies in 2025 and extends to large non-listed firms by 2027. The reporting framework includes disclosing Scope 1 and 2 emissions initially, with the government aiming to enhance sustainability capabilities and provide companies with improved access to markets, customers, and financing opportunities.

This week, Singapore has proposed mandatory climate reporting for both private and public companies. This new regulation represents a significant move towards Sustainability and ESG in the Asia Pacific Region and aims to drive greater transparency, accountability, and responsible corporate behavior. Aligned with the International Sustainability Standards Board (ISSB) this new regulation is lining Singapore up to rapidly become a sustainability leader in the region.