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Singapore exchange proposes mandatory climate-related disclosures
(Eco Business, 30 Aug 2021) The city-state's exchange regulator is the first in Asia to mandate listed firms to enhance climate disclosures, diversity in line with G20 taskforce recommendations.
Singapore Exchange Regulation (SGX RegCo), Singapore’s stock exchange regulator, will require mandatory climate-related disclosures for listed companies as part of a roadmap to meet investor demand for greater commitments to tackle climate change.
From 2022, all companies will need to disclose information in-line with recommendations from the Group of 20’s Task Force on Climate-related Financial Disclosures (TCFD), according to the proposal published on Thursday.
In addition to the TCFD framework, the regulator outlined seven environment-related metrics for reporting, including absolute greenhouse gas emissions (GHG), energy and water consumption and waste generated.
Issuers will need to consider GHG emission disclosure beyond Singapore’s national boundary, especially for listed companies in shipping and aviation sectors. If a company fails to disclose the information, it will be made to explain why.
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Eco Business, 30 Aug 2021: Singapore exchange proposes mandatory climate-related disclosures
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