ACRA and SGX RegCo extend timelines for most climate reporting requirements
On 25 August 2025, the Accounting and Corporate Regulatory Authority (“ACRA”) and Singapore Exchange Regulation (“SGX RegCo”) announced that they have extended the timelines for implementing climate reporting (including external assurance) requirements, to support listed companies and large non-listed companies (“Large NLCos”) in developing reporting capabilities.
All listed companies will continue to report Scope 1 and 2 greenhouse gas (“GHG”) emissions from the financial year (“FY”) commencing on or after 1 January 2025, while Straits Times Index (“STI”) constituents will continue to lead efforts to implement other International Sustainability Standards Board (“ISSB”)-based climate-related disclosures (“CRD”) from FY2025 and Scope 3 GHG emissions from FY2026.
ACRA and SGX RegCo have extended the timelines in light of the uncertain global economic landscape and feedback encouraging greater consideration of the varying levels of resources and readiness in climate reporting. In particular, the Singapore Business Federation provided feedback that smaller listed companies need more time to be fully ready for ISSB-based CRD. The time extension would allow them to build up data collection processes and learn from larger companies who have started to produce ISSB-based CRD.
With the updated requirements, companies will be better able to balance compliance costs with developing climate reporting capabilities, which are required for the longer term to maintain their place in global supply chains. Companies should also continue to align their trajectory with Singapore’s net-zero target by 2050.
Updated climate reporting requirements with immediate effect
Listed companies
The approach for listed companies, which takes immediate effect, is:
- A three-tier structure to phase reporting obligations based on market capitalisation:
- STI constituents;
- Non-STI constituent listed companies with a market capitalisation of S$1 billion and above; and
- Non-STI constituent listed companies with a market capitalisation of less than S$1 billion.
- Scope 1 and 2 GHG emissions reporting will remain mandatory for all listed companies from FY2025.
- Scope 3 GHG emissions reporting will remain mandatory for STI constituent listed companies from FY2026. For other non-STI constituent listed companies, Scope 3 GHG emissions reporting will be voluntary until further notice.
- Other ISSB-based CRD (beyond Scope 1, 2, and 3 GHG emissions) will remain mandatory for STI constituent listed companies from FY2025. Non-STI constituent listed companies with a market capitalisation of S$1 billion and above will be required to report other ISSB-based CRD from FY2028. Non-STI constituent listed companies with a market capitalisation of less than S$1 billion will follow from FY2030.
- External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2029 for all listed companies.
The revised climate reporting requirements for listed companies are summarised in the following table, with changes highlighted in grey:
|
Mandatory requirements |
Original timeline |
Revised timeline |
|||
|
All listed companies |
STI constituents |
Non-STI constituent listed companies ≥S$1B market cap |
Non-STI constituent listed companies <S$1B market cap |
||
|
Scope 1 and 2 GHG emissions |
FY2025 |
FY2025 |
|||
|
Other ISSB-based CRD |
FY2025 |
FY2028 |
FY2030 |
||
|
Scope 3 GHG emissions |
FY2026 |
FY2026 |
Voluntary |
Voluntary |
|
|
External limited assurance for Scope 1 and 2 GHG emissions |
FY2027 |
FY2029 |
|||
Reporting of Scope 1 and 2 GHG emissions remains mandatory for all listed companies from FY2025, as such disclosures provide key information for tracking companies’ decarbonisation progress. Mandatory requirements for ISSB-based CRD also remain in effect for STI constituents, with Scope 3 GHG emissions reporting to be mandatory from FY2026. This approach recognises the higher degree of readiness and capabilities that STI constituents have demonstrated for such disclosures. ACRA and SGX RegCo strongly encourage all listed companies to continue strengthening their climate reporting capabilities and demonstrate progress towards incorporating the climate-relevant provisions from the ISSB standards.
Large NLCos
The approach for Large NLCos is updated as follows:
- ISSB-based CRD (including Scope 1 and 2 GHG emissions) are deferred to FY2030.
- Scope 3 GHG emissions reporting remains voluntary until further notice.
- External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2032.
The revised climate reporting requirements for Large NLCos are summarised in the following table, with changes highlighted in grey:
|
Mandatory requirements |
Original timeline |
Revised timeline |
|
Large NLCos |
||
|
Scope 1 and 2 GHG emissions |
FY2027 |
FY2030 |
|
Other ISSB-based CRD |
||
|
Scope 3 GHG emissions |
Voluntary |
Voluntary |
|
External limited assurance for Scope 1 and 2 GHG emissions |
FY2029 |
FY2032 |
As Large NLCos will be starting their climate reporting journey later than listed companies, they will now have more time to build up their climate reporting capabilities.
Continued capability development
Companies can tap on the Sustainability Reporting Grant (“SRG”) by the Singapore Economic Development Board and Enterprise Singapore to prepare for other ISSB-based CRD before mandatory compliance sets in. Application deadlines for the SRG have been updated in view of these updated requirements.
Reference materials
The press release is available from the ACRA website www.acra.gov.sg and the Singapore Exchange website www.sgxgroup.com.
