The TCFD recommendations have been in place since FY2022 and provide the basis for reporting under the ISSB standards, which will take place for FY2025.
Although the deadline to meet climate-related disclosure requirements under the IFRS Sustainability Standards Board (ISSB) is drawing near, most companies listed on the Singapore Exchange (SGX) do not appear prepared for the new sustainability reporting regime, according to the results of an annual study by EY and global accountancy body CPA Australia.
Of the 359 companies that published sustainability reports for the financial year ended Dec 31, 2024, 98% — or 351 — contained disclosures that met at least one of the Task Force on Climate-related Financial Disclosures' (TCFD) recommendations, according to the third edition of EY’s “Transparency in focus: State of Climate Reporting in Singapore” study.
