Singapore SGX Climate-related Disclosures
Singapore has required listed companies to publish a sustainability report since 2016. For most of that decade the requirement was soft — “comply or explain,” reference the TCFD if you can, no external audit, no prescribed metrics. From FY2025 that softness ended. Climate-related disclosure aligned to the ISSB standards became a hard listing obligation: every SGX-listed company must now disclose its Scope 1 and 2 emissions, with the largest companies adding value-chain emissions, scenario-tested strategy, and — by the end of the decade — independent assurance.
Singapore did not adopt the ISSB standards wholesale; it built a climate-first, tier-by-tier on-ramp that most jurisdictions are still trying to design.
1. What the Singapore Regime Is — Two Regulators, One ISSB Spine
Singapore’s climate disclosure regime is not a single standard with a single name. It is a coordinated programme run by two regulators against one technical backbone, and confusing the parts is the most common scoping error in the market.
For listed companies, the obligation lives in the SGX Listing Rules — specifically Rules 711A and 711B, administered and enforced by Singapore Exchange Regulation (SGX RegCo). Rule 711A has required every listed issuer to publish an annual sustainability report since 2016; the climate component of that report became ISSB-aligned and mandatory from FY2025. For large non-listed companies (Large NLCos), the obligation is being introduced by the Accounting and Corporate Regulatory Authority (ACRA), the same agency that regulates company financial reporting in Singapore.
The technical backbone for both tracks is the ISSB standards — IFRS S1 (general sustainability requirements) and IFRS S2 (Climate-related Disclosures). Singapore did not legislate IFRS S1/S2 directly. Instead it took a deliberately climate-first, ISSB-informed approach: it embedded the climate-related requirements of IFRS S2 into the disclosure regime first, phased the obligations by company type and size, and tailored the assurance timeline to local market capacity. ACRA is developing local sustainability disclosure standards based on the ISSB Standards, so the precise local text will follow, but the operative requirement today is “report in line with the ISSB climate standard.”
The programme traces to the Sustainability Reporting Advisory Committee (SRAC), whose February 2024 roadmap — following a 2023 public consultation by ACRA and SGX RegCo — recommended the phased, ISSB-aligned mandate. The single defining feature of the Singapore approach is its graduated on-ramp: rather than a hard cliff for all entities at once, it sequences obligations from the Straits Times Index constituents outward to smaller listed companies and large private companies over a seven-year window.
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2. Chain of Custody — From the Listing Rules to a Filed Sustainability Report
Every Singapore climate disclosure traces through a specific regulatory and methodological chain. An audit committee, sustainability lead, or SGX RegCo reviewer should be able to draw it before a Sustainability Report is filed on SGXNet.
A listed issuer is captured by SGX Listing Rule 711A. A non-listed company is captured by the ACRA Large NLCo test: annual revenue of S$1 billion and above and total assets of S$500 million and above, unless covered by an exempting parent report.
Listed companies are placed in a tier — STI constituent, non-STI ≥ S$1B market cap, or non-STI < S$1B — which fixes when “other ISSB-based CRD” and Scope 3 apply. Large NLCos begin from FY2030. The reporting period aligns with the company’s financial year.
The company prepares disclosures across Governance, Strategy, Risk Management, and Metrics & Targets — the IFRS S2 architecture inherited from the TCFD recommendations. Strategy includes climate scenario analysis; Metrics & Targets includes the GHG inventory.
Scope 1 and Scope 2 are required from the company’s first mandatory year; Scope 3 applies only to STI constituents initially. Emissions are measured under the GHG Protocol Corporate Standard and aggregated into CO2e using IPCC AR6 global warming potential values.
For GreenCalculus users, the Scope 1, 2, and 3 figures feeding the disclosure are produced by the relevant calculators reading factor data from MasterBrain, with AR6 GWP applied and a per-line audit trail attached.
Listed issuers file the Sustainability Report alongside the annual report on SGXNet and publish it on their website, within the Listing Rule timeframe. Large NLCos file under the ACRA regime alongside their financial statements.
Limited assurance over Scope 1 and 2 emissions is required from FY2029 for listed companies and FY2032 for Large NLCos, provided by an ACRA-registered audit firm or a Singapore Accreditation Council-accredited testing, inspection, and certification firm.
3. What It Is — and What It Is Not
The Singapore climate disclosure regime is routinely confused with three neighbours: the carbon tax, the older GRI-era sustainability report, and a direct adoption of IFRS S1/S2. The distinctions are operational.
What it is: a mandatory climate-related disclosure obligation — a reporting standard built on the ISSB climate standard, structured around four pillars, phased by company tier, administered by SGX RegCo for listed issuers and ACRA for large non-listed companies.
What it is not: it is not the Singapore carbon tax (a price on emissions for large facilities — a fiscal instrument, not a disclosure standard); it is not the original “comply or explain” GRI-style sustainability report that ran from 2016 (the regime evolved out of it, but the climate component is now a hard, ISSB-aligned requirement rather than a soft one); it is not a direct legislative adoption of IFRS S1 and S2 (Singapore took an ISSB-informed, climate-first path and is writing its own local standards); and it is not a measurement methodology (that is the GHG Protocol).
| Instrument | What it does | Where it sits relative to this regime | Reference page |
|---|---|---|---|
| SGX/ACRA climate disclosures | Mandatory ISSB-aligned climate disclosure content + structure | The operative disclosure regime for Singapore climate reporting | This page |
| Singapore Carbon Tax (Carbon Pricing Act) | Price per tonne on emissions from large facilities | Fiscal instrument; separate from disclosure | Singapore Carbon Tax → |
| SGX SR Guide (711A/711B, GRI-era) | “Comply or explain” annual sustainability report since 2016 | The predecessor the climate mandate grew out of; still the wrapper | GRI Standards → |
| IFRS S2 (ISSB) | Global climate disclosure standard | The technical spine the Singapore regime is built on | IFRS S2 reference → |
| GHG Protocol Corporate Standard | Measurement methodology for Scope 1/2/3 | The measurement basis for the emissions inside the disclosure | GHG Protocol Corporate → |
The SGX Listing Rules and the ACRA regime say who must report and make the disclosure binding. The ISSB climate standard (IFRS S2) says what must be disclosed. The GHG Protocol and IPCC guidelines say how to measure the emissions. The carbon tax runs in parallel as a separate fiscal track. This regime is the disclosure layer — the bridge between a company’s climate reality and the Sustainability Report it files on SGXNet.
4. The Evolution — 2016 “Comply or Explain” to 2025 ISSB Mandate
Understanding the Singapore regime requires understanding that it is not new — it is the hardening of a structure that has existed for nearly a decade. The current ISSB-aligned mandate sits inside the same Listing Rule wrapper (711A/711B) that has governed Singapore sustainability reporting since 2016.
From 2016, Listing Rule 711A required every listed issuer to publish an annual sustainability report on a “comply or explain” basis (first reports for financial years ending on or after 31 December 2017). From FY2022 the climate-related component was elevated: all issuers reported climate on a “comply or explain” basis consistent with the TCFD recommendations, becoming mandatory for issuers in specified climate-exposed industries. The February 2024 SRAC roadmap then converted the climate component into a hard, ISSB-aligned requirement, sequenced from FY2025. The August 2025 joint ACRA/SGX RegCo announcement subsequently relaxed the timelines for smaller listed companies and large non-listed companies in response to market-readiness feedback — the regime’s current shape.
5. Who Must Report — Listed Tiers and Large Non-Listed Companies
The regime captures two populations on different schedules: every SGX-listed company (split into three tiers by index membership and market capitalisation), and large non-listed companies above a revenue-and-assets test.
The single most important rule for listed companies: all listed issuers report Scope 1 and 2 from FY2025, regardless of tier. The tiers govern only when “other ISSB-based climate-related disclosures” — the governance, strategy, risk-management, and target content beyond the emissions figures — become mandatory, and when Scope 3 applies.
Tier 2 status is locked by market capitalisation as at the close of market on 30 June 2025. A non-STI company at or above S$1 billion on that date must report other ISSB-based CRD from FY2028 — and the requirement continues even if its market capitalisation later falls below S$1 billion. Companies listing after 30 June 2025 at or above S$1 billion are captured from the later of FY2028 or their first full financial year after listing. This snapshot-and-stick mechanism is the most frequently misread part of the entire regime — a company cannot drop a tier by shrinking.
A large non-listed company may be exempted from reporting if both conditions hold: its immediate, intermediate, or ultimate parent (local or foreign) is preparing climate or sustainability reports using ISSB-based local reporting standards or equivalent, and the company’s activities are included in that parent’s report, which is publicly available. This avoids duplicate reporting for Singaporean subsidiaries of groups already disclosing at parent level — for example under CSRD ESRS E1 or a parent jurisdiction’s ISSB-based regime. ACRA will issue guidance on what counts as an equivalent standard.
6. The Phased Timeline — FY2025 to FY2032
The table below reflects the timeline as revised by the joint ACRA/SGX RegCo announcement of 25 August 2025. Earlier published timelines (which had large non-listed companies starting FY2027 and contained no market-cap tiering for non-STI listed companies) are superseded.
| FY beginning on/after | Who | Requirement |
|---|---|---|
| 1 Jan 2025 | All listed companies | Report Scope 1 and 2 GHG emissions |
| 1 Jan 2025 | STI constituents (Tier 1) | Report other ISSB-based CRD (governance, strategy, risk management, targets) |
| 1 Jan 2026 | STI constituents (Tier 1) | Report Scope 3 GHG emissions |
| 1 Jan 2028 | Non-STI listed, market cap ≥ S$1B (Tier 2) | Report other ISSB-based CRD |
| 1 Jan 2029 | Listed companies | External limited assurance over Scope 1 and 2 emissions begins |
| 1 Jan 2030 | Non-STI listed, market cap < S$1B (Tier 3) | Report other ISSB-based CRD |
| 1 Jan 2030 | Large non-listed companies | Report ISSB-based CRD incl. Scope 1 and 2 (unless exempted) |
| 1 Jan 2032 | Large non-listed companies | External limited assurance over Scope 1 and 2 emissions begins |
Scope 3 GHG emissions reporting is mandatory only for STI constituents (from FY2026); for all other non-STI listed companies and for large non-listed companies, Scope 3 reporting remains voluntary until further notice. Financial-year alignment means the calendar year a company first reports depends on its year-end.
7. The Four Pillars
The “other ISSB-based climate-related disclosures” the regime phases in are organised around the four IFRS S2 pillars, inherited from the TCFD recommendations. They describe how a company governs, strategises around, manages, and measures its climate-related risks and opportunities — the qualitative and forward-looking content that sits alongside the emissions numbers.
For Tier 1 (STI) companies these four pillars are required from FY2025. For Tier 2 and Tier 3 companies, Scope 1 and 2 emissions come first (FY2025) and the fuller four-pillar “other CRD” content phases in from FY2028 and FY2030 respectively. Where a company has set decarbonisation targets, the SBTi Corporate Net-Zero Standard is the framework most commonly referenced in the Metrics & Targets pillar.
8. GHG Emissions Requirements — Scope 1, 2, and 3
The emissions inventory is the part of the disclosure that carries assurance, and the part where the tiering bites hardest — particularly on Scope 3.
| Scope | What it covers | Who & when | Assurance |
|---|---|---|---|
| Scope 1 | Direct emissions from owned/controlled sources | All listed cos from FY2025; Large NLCos from FY2030 | Limited assurance: listed FY2029, NLCo FY2032 |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat, cooling | All listed cos from FY2025; Large NLCos from FY2030 | Limited assurance: listed FY2029, NLCo FY2032 |
| Scope 3 | Value-chain emissions across the 15 GHG Protocol categories | STI constituents only, from FY2026; voluntary for all others | Not yet within the mandatory limited-assurance scope |
Two rules govern the inventory. First, Scope 1 and 2 are universal for listed companies from FY2025 — there is no tier exemption from the emissions figures themselves, only from the broader “other CRD” content. Second, mandatory Scope 3 is narrowly scoped: only STI constituents must report it, and only from FY2026. For every other listed company and every large non-listed company, Scope 3 is voluntary until further notice. This is a deliberate softening — the original SRAC roadmap had contemplated wider mandatory Scope 3, and the August 2025 update narrowed it to the STI in response to readiness concerns.
Emissions are measured under the GHG Protocol Corporate Standard — explicitly named in ACRA’s Sustainability Reporting Body of Knowledge alongside IFRS S1 and S2 — with Scope 2 prepared on the location-based and, where relevant, market-based methods set out in the GHG Protocol Scope 2 Guidance. Gases are aggregated to CO2e using IPCC AR6 global warming potential values. Where Scope 3 Category 15 (financed emissions) is material for financial institutions, the PCAF financed-emissions methodology is the standard approach.
9. The Assurance Roadmap
Singapore’s assurance requirement is deliberately delayed relative to the reporting requirement — companies report for several years before assurance bites — but the end state is external assurance over the emissions figures.
External limited assurance over Scope 1 and 2 emissions begins from FY2029 for listed companies and FY2032 for large non-listed companies. Singapore has not, at the time of writing, set a date for moving to reasonable assurance or for extending mandatory assurance to Scope 3 — both remain under review. Assurance must be provided by a registered climate assurance provider: either an audit firm registered with ACRA, or a testing, inspection, and certification firm accredited by the Singapore Accreditation Council. This dual-track provider model is distinctive — it admits specialist TIC firms alongside financial auditors, recognising that emissions assurance is a technical discipline.
Reporting precedes assurance — but data discipline cannot wait. A listed company reporting Scope 1 and 2 from FY2025 has four years before limited assurance applies in FY2029. That gap is not a holiday: the cheapest way to be assurance-ready in FY2029 is to build documented, traceable emissions data and controls from the first reporting year, rather than retrofitting an audit trail onto four years of unstructured spreadsheets.
10. Singapore vs IFRS S2 vs Australia’s AASB S2
The most useful comparison for a multinational is between the three ISSB-derived regimes it is most likely to encounter in the Asia-Pacific: the global IFRS S2 baseline, Singapore’s regime, and Australia’s AASB S2. All three share the IFRS S2 spine; they diverge on scope of mandate, Scope 3 timing, scenario prescription, and assurance.
| Dimension | IFRS S2 (ISSB) | Singapore (SGX/ACRA) | Australia (AASB S2) |
|---|---|---|---|
| Legal vehicle | Standard adopted by choice per jurisdiction | SGX Listing Rules + ACRA regime; ISSB-informed, local standards in development | Accounting standard mandated via the Corporations Act |
| Who is captured | Jurisdiction decides | All SGX-listed cos (tiered) + large non-listed cos | Chapter 2M entities meeting size / NGER / asset-owner gateways |
| Scope 3 timing | Required (with one-year relief option) | Mandatory only for STI constituents (FY2026); voluntary otherwise | Mandatory for all in-scope entities from Year 2 |
| Scenario analysis | Required; scenarios not prescribed | Required as part of ISSB-based CRD; scenarios not prescribed | Two prescribed scenarios (1.5°C + high-warming) |
| Assurance start | Jurisdiction decides | Listed FY2029, NLCo FY2032 (limited, S1+S2) | Limited from Year 1; reasonable by FY beginning on/after 1 Jul 2030 |
| On-ramp design | n/a | Tiered by index membership + market cap | Three size-based groups (2025 / 2026 / 2027) |
The headline contrasts: Singapore is looser than Australia on Scope 3 (STI-only versus all in-scope entities) and on scenario prescription (it does not mandate specific warming levels), but it reaches a broader listed population faster by capturing every SGX issuer for Scope 1 and 2 from FY2025. Australia front-loads assurance (limited from Year 1); Singapore delays it to FY2029. A group reporting under IFRS S2 globally has most of the raw material for a Singapore filing, but the tiering, the SGXNet filing mechanics, and the carbon-tax interface are Singapore-specific work.
11. SGX Listing Rules 711A/711B — The Legal Plumbing
For listed companies the climate disclosure obligation does not float free — it is bolted into the existing sustainability-report machinery of the SGX Listing Manual. Understanding that machinery explains why the climate mandate took the shape it did.
Rule 711A requires every listed issuer to prepare an annual sustainability report. Rule 711B specifies that the report must describe the issuer’s sustainability practices with reference to a set of primary components, historically on a “comply or explain” basis — meaning a company could omit a component if it disclosed the omission and explained what it did instead. The six primary components are:
| # | Primary component (LR 711B) | Status |
|---|---|---|
| 1 | Material environmental, social and governance (ESG) factors | Comply or explain |
| 2 | Climate-related disclosures | Hardening to mandatory, ISSB-aligned (tiered from FY2025) |
| 3 | Policies, practices and performance for material ESG factors | Comply or explain |
| 4 | Targets | Comply or explain |
| 5 | Sustainability reporting framework | Comply or explain |
| 6 | Board statement and associated governance structure | Comply or explain |
The crucial structural fact is that the climate-related disclosures component (component 2) has been carved out of the “comply or explain” regime and made mandatory on the ISSB-aligned, tiered schedule. A company can still “comply or explain” its way around the broader ESG components, but it can no longer opt out of the climate emissions and disclosures within its tier’s scope. This is why Singapore’s regime is often described as “climate-first”: the climate component became the first — and so far only — hard, non-explainable element inside an otherwise flexible sustainability-report wrapper. Issuers continue to file the report on SGXNet within the Listing Rule timeframe and publish it on their own website.
12. Singapore Among the Global Disclosure Regimes
Singapore is one of the earliest and most committed adopters of the ISSB framework in Asia, and its regime fits into a fast-converging global network — most of which traces back through IFRS S2 and the TCFD to a common four-pillar ancestry.
| Regime | Jurisdiction | Basis | Reference page |
|---|---|---|---|
| SGX/ACRA climate disclosures | Singapore | ISSB-informed; climate-first; tiered mandate | This page |
| IFRS S2 | Global (ISSB) | The parent standard adopted via national regimes | IFRS S2 → |
| CSRD / ESRS E1 | European Union | Double materiality; broader than climate | CSRD ESRS E1 → |
| SEC Climate Disclosure Rules | United States | Financial materiality; SEC registrant scope | SEC rules → |
| TCFD recommendations | Global (legacy) | The four-pillar architecture the regime inherits | TCFD → |
| GRI Standards | Global | The impact-reporting framework behind the original SGX SR Guide | GRI Standards → |
Singapore’s distinctive contribution to the global picture is its sequencing discipline: rather than a single mandatory date, it staged obligations by index membership and market capitalisation, used a “comply or explain” wrapper to ease entry, and pushed assurance several years downstream. For a regional headquarters comparing Singapore with the EU’s CSRD or the US SEC rules, the practical takeaway is that Singapore demands climate disclosure from a broad listed base early, but with a narrower content scope and later assurance than the EU’s double-materiality regime.
13. Common Singapore Climate-Disclosure Errors
Ten high-frequency errors seen in first-cycle disclosures and readiness assessments:
14. Singapore Climate Disclosure Regulatory Timeline
15. Implementation Roadmap
The companies that struggle treat the disclosure as a year-end task. The ones that succeed treat it as a capability build aligned to their tier’s first mandatory year. The sequence below is the observed pathway.
- Confirm whether captured as a listed issuer (and tier) or a Large NLCo
- For listed cos, fix tier using STI membership and 30 June 2025 market cap; check the sticky rule
- For NLCos, run the revenue-and-assets test and the parent-exemption conditions
- Identify the exact first mandatory financial year from the company’s year-end
- Build Scope 1 and 2 inventories under the GHG Protocol with AR6 GWP values
- For STI constituents, stand up Scope 3 data collection ahead of FY2026
- Develop the four-pillar CRD: governance, strategy (with scenario analysis), risk management, targets
- Apply for the Sustainability Reporting Grant where eligible to fund readiness
- Embed the climate component in the Rule 711B sustainability report; file on SGXNet
- Build documented, traceable emissions data and controls toward assurance
- Engage a registered climate assurance provider ahead of FY2029 (listed) / FY2032 (NLCo)
- Integrate the disclosure with financial reporting timelines and the board statement
16. GreenCalculus Implementation — Feeding a Singapore Disclosure
GreenCalculus does not produce the Sustainability Report narrative — that is a disclosure-and-assurance deliverable — but it produces the audit-ready emissions figures the Metrics & Targets pillar depends on. The implementation chain:
The ACRA “Sustainability reporting and assurance requirements” timeline and the August 2025 joint ACRA/SGX RegCo announcement are registered as the regime authority; the GHG Protocol Corporate Standard, the GHG Protocol Scope 2 Guidance, and IPCC AR6 GWP values are registered as the measurement basis.
The Scope 1 Combustion Calculator and Scope 2 Electricity Calculator produce the direct and purchased-energy figures every listed company needs from FY2025, with AR6 GWP applied and a per-line audit trail — the figures that carry limited assurance from FY2029. Assemble the full SGX climate disclosure in the Singapore Climate Disclosure Calculator.
For STI constituents reporting Scope 3 from FY2026, the value-chain categories are built through the relevant Scope 3 calculators. For financial institutions, Category 15 financed emissions are produced by the PCAF asset-class calculators.
Every calculation result carries the applied factor, the GWP basis (AR6), the source standard, and the MasterBrain version — the documented, traceable evidence a limited-assurance engagement requires, built from the first reporting year rather than retrofitted.
Because the figures are produced on the GHG Protocol + AR6 basis, the same inventory feeds an IFRS S2 group disclosure, a CSRD ESRS E1 filing, or an SBTi target submission without recomputation — useful for the many Singapore subsidiaries of multinational groups navigating the parent-exemption question.
17. Frequently Asked Questions
For listed companies, mandatory ISSB-aligned climate reporting started from FY2025: all SGX-listed companies report Scope 1 and 2 emissions, and Straits Times Index (STI) constituents additionally report the other ISSB-based climate disclosures. STI constituents add Scope 3 from FY2026. Non-STI listed companies with a market capitalisation of S$1 billion and above (as at 30 June 2025) report the other ISSB-based disclosures from FY2028, and those below S$1 billion from FY2030. Large non-listed companies report from FY2030. The reporting period aligns with the company’s financial year.
Two populations. First, all companies listed on the Singapore Exchange, captured through SGX Listing Rule 711A and split into three tiers (STI constituents; non-STI with market cap of S$1 billion and above; non-STI below S$1 billion). Second, large non-listed companies (Large NLCos) that meet both an annual revenue threshold of S$1 billion and above and a total assets threshold of S$500 million and above, administered by ACRA. A Large NLCo may be exempt if its activities are covered in a parent company’s publicly available ISSB-based climate report.
Mandatory Scope 3 reporting currently applies only to STI constituent listed companies, from FY2026. For all other non-STI listed companies and for large non-listed companies, Scope 3 reporting remains voluntary until further notice. This is narrower than the original SRAC roadmap contemplated — the August 2025 update confined mandatory Scope 3 to the STI in response to market-readiness feedback. All listed companies, however, must report Scope 1 and 2 from FY2025 regardless of tier.
On 25 August 2025, ACRA and SGX RegCo jointly announced extended timelines. The update introduced the market-capitalisation tiering for non-STI listed companies (those at or above S$1 billion as at 30 June 2025 report other ISSB-based disclosures from FY2028; those below from FY2030), and moved large non-listed companies from the originally proposed FY2027 start to FY2030, with their assurance to FY2032. Mandatory Scope 3 was confined to STI constituents. The changes followed feedback, including from the Singapore Business Federation, that many smaller companies lacked confidence in meeting the original timeline.
Yes, eventually. External limited assurance over Scope 1 and 2 GHG emissions is required from FY2029 for listed companies and from FY2032 for large non-listed companies. Assurance must be provided by a registered climate assurance provider — either an audit firm registered with ACRA or a testing, inspection and certification firm accredited by the Singapore Accreditation Council. Singapore has not yet set a date for moving to reasonable assurance or for extending mandatory assurance to Scope 3.
Singapore did not legislate IFRS S1 and S2 directly. It took a climate-first, ISSB-informed approach: it embedded the climate requirements of IFRS S2 into the SGX Listing Rules and the ACRA regime, phased the obligations by company tier and size, narrowed mandatory Scope 3 to STI constituents, and delayed assurance to FY2029/FY2032. ACRA is separately developing local sustainability disclosure standards based on the ISSB Standards. So the operative requirement is “report in line with the ISSB climate standard,” but the scope, timing, and assurance are tailored to Singapore’s market.
No. For non-STI listed companies, the S$1 billion market-capitalisation test is assessed at the close of market on 30 June 2025 (or at the listing date for companies that list later). A company at or above S$1 billion on that date must report the other ISSB-based disclosures from FY2028, and that obligation continues even if its market capitalisation subsequently falls below S$1 billion. The threshold is a snapshot that locks the tier, not a rolling test that resets each year.
They are distinct. The Singapore carbon tax prices emissions from large facilities — a fiscal instrument, not a disclosure standard. The climate disclosure regime requires the reporting of emissions and climate-related information. As for the sustainability report: SGX has required listed issuers to publish an annual sustainability report since 2016 under Listing Rules 711A and 711B on a “comply or explain” basis. The current regime is the hardening of the climate component of that same report — the climate disclosures became mandatory and ISSB-aligned, while the other components remain on “comply or explain.”
Build the emissions inventory behind your Singapore disclosure
Every SGX-listed company needs Scope 1 and 2 figures from FY2025. Start with the Scope 1 Combustion Calculator and the Scope 2 Electricity Calculator for the figures that will carry limited assurance from FY2029, cross-reference the IFRS S2 reference for the standard the regime is built on, or the Singapore Carbon Tax reference for the separate fiscal regime that runs alongside it.
Related GreenCalculus References
Technical spine: IFRS S2 Climate-related Disclosures · TCFD Recommendations · GRI Standards
Singapore neighbour: Singapore Carbon Tax Act
Adjacent disclosure regimes: CSRD ESRS E1 · SEC Climate Disclosure Rules
Measurement basis: GHG Protocol Corporate Standard · GHG Protocol Scope 2 Guidance · GHG Protocol Scope 3 Standard · IPCC AR6 GWP · PCAF Financed Emissions
Target setting: SBTi Corporate Net-Zero Standard
Calculators: Scope 1 Combustion · Scope 2 Electricity · PCAF Listed Equity & Corporate Bonds
Glossary: Scope 1 · Scope 2 · Scope 3 · Global warming potential · CO2e