These large private companies will follow Singapore’s listed issuers, which will be required to do the same by FY2025, using the International Sustainability Standards Board’s (ISSB) standards, issued in June 2023.
Large private companies in Singapore will be required to report and file annual climate-related disclosures starting FY2027. These companies are defined as those with annual revenue of at least $1 billion and with total assets of at least $500 million.
The move is part of the government’s efforts to help companies strengthen capabilities in sustainability, says Second Minister for Finance Chee Hong Tat at the Ministry of Finance Committee of Supply on Feb 28.
