SGX RegCo and ISCA jointly develop roadmap to navigate SGX’s climate reporting timelines
18 December 2025
Singapore Exchange Regulation (“SGX RegCo”) and the Institute of Singapore Chartered Accountants (“ISCA”) have jointly developed a roadmap to navigate SGX’s climate reporting timelines (“Roadmap”), which seeks to support
non-Straits Times Index (“STI”) constituent issuers in meeting the extended climate reporting timelines announced in August 2025.
In August 2025, the Accounting and Corporate Regulatory Authority (“ACRA”) and SGX RegCo extended the timelines for implementing climate reporting requirements to support listed companies and large non-listed companies in developing reporting capabilities.
Under the revised timeline, issuers outside the STI are still required to issue climate-related disclosures (“CRD”). However, they would now need to report only their Scope 1 and 2 greenhouse gas (“GHG”) emissions from financial year commencing on or after (“FYC”) 1 January 2025. Non-STI constituent issuers with a market capitalisation of S$1 billion and above will be required to report CRD beyond Scope 1 and 2 GHG emissions based on the International Sustainability Standards Board (“ISSB”) Standards from FYC 2028, with the exception of Scope 3 GHG emissions, which will be voluntary until further notice. Non-STI constituent issuers with a market capitalisation of less than S$1 billion will be required to report the same from FYC 2030.
The Roadmap seeks to support non-STI constituent issuers in meeting the relevant timelines by FYC 2028. The non-STI constituent issuers that have until FYC 2030 may adapt the Roadmap for their own use, although they are encouraged to adopt it earlier. As most issuers have already substantially adopted the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”), the Roadmap suggests how a non-STI constituent issuer which has already adopted the TCFD recommendations may implement the climate-related requirements of the ISSB Standards.
The Roadmap outlines the key incremental disclosures required for issuers to build on their TCFD-aligned CRD to comply with the requirements in the ISSB Standards, as a guiding reference to support their transition to the ISSB requirements.
Issuers are encouraged to first perform a gap analysis of the current state of their disclosures and the required ISSB disclosures and adapt the Roadmap based on their specific circumstances to guide progress. They should also consider preparing a full mock-up of ISSB-aligned CRD to assist with their gap analysis.
Reference materials
The following materials available on the ISCA website www.isca.org.sg: