Among those who have obtained external sustainability assurance, it came as no surprise that STI constituents lead the way, with 57% having done so. Smaller companies lag in this aspect and bridging this gap will “require focused effort, investment, and capacity building to meet evolving expectations and assurance requirements”, noted the report which was written by PwC, ISCA and SGX RegCo.
At the Institute of Singapore Chartered Accountants (ISCA) Conference held on Nov 12, three publications pertaining to sustainability reporting were launched, highlighting evolving sustainability standards and regulations, and how ESG reporting is an ongoing process of enhancement and compliance for businesses.
The first report, titled "Trust in transition: Building confidence in sustainability disclosure", detailed that only 17% of Singapore-listed companies have already obtained external assurance for their sustainability reports, with 35% planning to do so soon. However, it noted that 47% of listcos have yet to make such plans.
