Singapore Sustainability Reporting Rules Proposed by ACRA

New Singapore sustainability reporting standards have been proposed by the Accounting and Corporate Regulatory Authority, combining mandatory climate disclosures with voluntary reporting on broader sustainability matters.

The draft Singapore Sustainability Disclosure Standards are based on the International Sustainability Standards Board’s S1 and S2 frameworks.

Climate-related disclosures aligned with S2 would be compulsory, while the wider S1 sustainability requirements would remain voluntary.

Singapore also plans to extend transitional relief allowing some companies to delay reporting Scope 3 emissions generated across their value chains.

Sustainability disclosures would need to be published alongside financial statements, while companies would be required to provide an explicit declaration of compliance with S2.

ACRA will issue a sustainability assurance guide and work with professional and training organisations to strengthen industry capabilities.

The proposals are intended to improve the consistency, comparability and reliability of corporate climate information while allowing companies additional time to develop broader sustainability reporting systems.