Singapore Exchange Regulation (SGX RegCo) has, on March 17, announced the start of eight sustainability training courses for directors of listed companies to attend.
The courses are for the directors to equip themselves with basic knowledge on sustainability matters, says the market regulator.
Under the enhanced SGX sustainability reporting rules that mandated sustainability training for all board directors of SGX-listed equity issuers, directors must attend one of the courses in order to meet the rules.
Companies are required to provide a confirmation that their directors have attended sustainability training, in their first sustainability report for financial years commencing on or after Jan 1 and issued in 2023 or later.
The courses are conducted by providers that represent different constituencies in the capital markets. They are Global Compact Network Singapore (GCNS), PricewaterhouseCoopers (PwC) and Singapore Environment Council (SEC), each in partnership with Enterprise Singapore (ESG), Institute of Singapore Chartered Accountants (ISCA) with SAC Capital, REIT Association of Singapore (REITAS), Singapore Institute of Directors (SID) and University of Cambridge Institute for Sustainability Leadership.
The courses span different durations and are conducted virtually or in-person. Their start-dates will differ with the earliest being this month.
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Individuals who are first-time board directors of listed companies can meet the requirement by attending from May 2022, the Listed Entity Directors’ programme at SID.
“Changes and disruptions due to environmental, social and governance developments are already underway. Company directors must therefore have a good grasp of sustainability issues. SGX RegCo is pleased to have these providers onboard to train directors in an area increasingly crucial as they direct companies’ long-term strategy and corporate governance,” says Michael Tang, head of listing policy and product admission at SGX RegCo.
As at 1.50pm, shares in SGX are trading 3 cents higher or 0.31% up at $9.66.
Photo: Bloomberg
