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All S-REITs have issued climate-related disclosures, but lag global peers in setting metrics, targets: EY, REITAS study

Jovi HoWed, Sep 13, 2023 • 03:27 PM GMT+08 • 5 min read

All S-REITs have issued climate-related disclosures, but lag global peers in setting metrics, targets: EY, REITAS study

S-REITs are falling short of their global peers in terms of setting metrics and targets for decarbonisation, say EY and the REIT Association of Singapore (REITAS). Photo: Bloomberg

All Singapore REITs (S-REITs) have made climate-related disclosures in their latest sustainability reports, with over half issuing such disclosures for the first time. However, S-REITs are falling short of their global peers in terms of setting metrics and targets for decarbonisation, say EY and the REIT Association of Singapore (REITAS).

The findings, released on Sept 13, are drawn from the “Climate risk disclosures in real estate investment trusts (REITS)” study, which reviewed the coverage and quality of climate-related disclosures by the 40 S-REITs traded on the Singapore Exchange (SGX), based on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

Singapore Exchange Regulation (SGX RegCo) has mandated climate reporting for all issuers on a “comply-or-explain” basis, effective for financial years starting on or after Jan 1, 2022.