Before SGX RegCo finalises its recommendations by 2024, it will also consider the feedback received by the Sustainability Reporting Advisory Committee (SRAC) from its public consultation to mandate climate-related disclosures for Singapore-incorporated companies, launched at the start of July.
Following the release of the International Sustainability Standards Board’s (ISSB) inaugural IFRS Sustainability Disclosure Standards in June, the Singapore Exchange Regulation (SGX RegCo) will consult on any possible changes to current listing rules by the end of the year.
The ISSB standards — IFRS S1 and S2 — ask for information about a company’s climate transition plan as part of its strategy, and are consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which published a transition guide in October 2021. Together, they create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects.
