Knowledge Highlights 24 June 2022
On 21 June 2022, the Accounting and Corporate Regulatory Authority (“ACRA”) and Singapore Exchange Regulation (“SGX RegCo”) announced that they have established a Sustainability Reporting Advisory Committee (“SRAC”) to advise on a sustainability reporting roadmap for Singapore-incorporated companies.
As part of its work, the SRAC will provide input on the suitability of international sustainability reporting standards for implementation in Singapore. The SRAC comprises industry leaders and sustainability champions with diverse experience including chief sustainability officers, representatives of financial institutions, institutional and retail investors, sustainability reporting professionals and academia.
ACRA and SGX RegCo said that they are developing a roadmap for wider implementation of sustainability reporting for Singapore-incorporated companies, beyond companies listed on the Singapore Exchange Securities Trading Limited. SGX RegCo has been progressively enhancing sustainability reporting for listed companies, including mandatory reporting since 2016 and climate reporting from financial year 2022.