Singapore-listed firms improve climate reporting, but gaps remain

Only 36% of Singapore-listed companies mandated to report climate-related disclosures for 2023 fully complied with regulatory requirements, up from 15% the previous year, according to a review by SGX RegCo and the National University of Singapore Business School. The study assessed sustainability reports from 529 companies, finding that while overall climate reporting improved, full compliance with all 11 recommendations under the Task Force on Climate-Related Financial Disclosures framework remained low. Across all SGX-listed issuers, including those allowed to explain non-compliance, only 28% met the full reporting requirements. The review noted that 97% of issuers started TCFD reporting, driven by small-cap firms, but experts say progress is modest. SGX RegCo’s phased approach mandates key sectors to meet stricter climate disclosure rules starting 2024.