SGX Sustainability Reporting Guide

What is the SGX?

The Singapore Stock Exchange (SGX) is the primary securities exchange in Singapore and the marketplace where companies list their shares and other securities for public trading. As part of its role as a regulator for listed issuers, SGX requires those companies to report on environmental, social, and governance (ESG) matters to improve transparency and inform investors about sustainability-related risks and opportunities.

Under SGX’s sustainability reporting regime, issuers with a primary listing on the SGX-ST (SGX Securities Trading Limited) must prepare and publish an annual sustainability report.

What is Singapore’s policy on mandatory ESG disclosures?

ESG reporting requirements have been strengthened in recent years. SGX has phased in mandatory climate disclosures aligned with international frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD) and, from Financial Year 2025, required listed issuers to report on Scope 1 and Scope 2 greenhouse gas emissions consistent with ISSB (International Sustainabiility Standards Board) standards.

1. ISSB-aligned Climate Disclosures

Singapore’s corporate reporting landscape is evolving beyond voluntary or comply-or-explain sustainability reporting toward mandatory climate-related disclosures (CRDs) aligned with the ISSB. This shift stems from recommendations by the Sustainability Reporting Advisory Committee (SRAC), an industry-led panel established by the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo). The SRAC’s recommendations were subject to a public consultation in 2023.

2. SGX Listing Rules

Independent of the broader government-led ISSB alignment effort, SGX imposes its own sustainability reporting obligations directly through its listing rules. Under the current regime:

All SGX-listed issuers must publish an annual sustainability report that includes several primary components, one of which is climate-related disclosures. This is specified in SGX Listing Rule 711B.
The sustainability report must cover material ESG factors, climate disclosures, policies and practices, targets, the sustainability reporting framework used, and a board statement on sustainability governance. If any component is excluded, the issuer must explain why.
Previously, SGX’s climate reporting requirements were based on the TCFD recommendations and applied on a comply-or-explain basis across sectors, with mandatory disclosure initially mandated for select industries. Regulators have since moved toward mandatory reporting for all issuers with phased implementation and alignment with ISSB standards from FY2025 onward.

What are the SGX reporting requirements?

When producing SGX-compliant sustainability reports, they must describe the company’s material ESG factors and how the organisation manages them. The rules are set out in the SGX listing rules and apply on a “comply or explain” basis.

SGX’s sustainability reporting regime requires that every sustainability report describe the company’s sustainability practices with reference to a specific set of primary components defined in listing rule 711B. The report must cover:

1. Material ESG factors

Companies must identify and disclose the ESG issues that affect their business. These are factors that could affect long-term value and stakeholder decision-making, such as climate, resource management, human capital, and governance structures.

2. Climate-related disclosures

Climate matters are now a primary component of sustainability reporting, including disclosures on greenhouse gas emissions (Scope 1 and 2) and other climate risk elements. These disclosures must align with evolving standards, including ISSB climate provisions, as specified in practice guidance.

3. Policies, practices, and performance

Issuers must describe the policies and strategies they have adopted on material ESG factors, how they implement these policies, and the performance outcomes achieved.

4. Targets

Companies must disclose measurable targets they have set for key sustainability metrics such as emissions reduction goals. Where applicable, progress against these targets must be disclosed too.

5. Sustainability reporting framework

The report should specify which reporting frameworks or standards the issuer used to prepare the sustainability disclosures, e.g., ISSB, TCFD, GRI.

6. Governance statement

A board statement is required that outlines how sustainability risks and opportunities are overseen at the highest level of the organisation, including governance structures, and responsibilities.

If an issuer chooses not to include one of these components other than climate disclosures, it must explain why and describe what it does instead. Internal review of the reporting process is required, and issuers may choose to obtain external assurance.

Who needs to comply with the SGX sustainability reporting?

Under the SGX listing rules, every issuer with a primary listing on the Singapore Stock Exchange (SGX-ST) must prepare and publish an annual sustainability report. Issuers must issue their sustainability report no later than four months after the end of their financial year, or five months if the report has undergone external assurance.

The requirement is issuer-level. This means that it binds the listed entity itself, not just subsidiaries or affiliates, and is embedded directly in listing rules 711A and 711B. Failure to comply or to explain a valid exclusion constitutes a breach of continuing obligations for listed companies.

What is the implementation timeline for the SGX sustainability reporting?

2016 – SGX Sustainability Reporting guide introduced

- - SGX added Sustainability reporting obligations (listing rule 711A), requiring issuers to publish annual sustainability reports. This laid the foundation for ESG disclosures across listed companies.

2022 – Updated reporting deadlines

- - The listing rules (711A/B) were amended to reinforce the requirement to issue sustainability reports within set timelines after financial year-end.

2025 – Mandatory climate disclosures begin

- - From financial years beginning on or after January 1, 2025, all SGX-listed issuers must provide mandatory climate-related disclosures that include Scope 1 and Scope 2 greenhouse gas emissions and other climate information aligned with the ISSB’s requirements.

2026 – Mandatory primary ESG components

- - Other primary components of the sustainability report, such as material ESG factors, policies, reporting framework, and governance, become mandated and no longer comply-or-explain. Sustainability reports must also be issued at the same time as annual reports, unless external assurance allows a later submission.

2026 and beyond – Evolving climate detail

- Reporting of Scope 3 greenhouse gas emissions and broader climate disclosures under the ISSB standards is expected to be phased in later. Timing for these advanced requirements varies by issuer size and readiness.

Why are the SGX regulations important?

The SGX disclosure requirements matter for multiple reasons: They strengthen market integrity, support informed investment decisions, enhance corporate risk management, and align Singapore with global sustainability expectations.

Build investor confidence and market transparency

SGX’s sustainability and climate reporting rules expands on the scope of traditional financial reporting. By requiring listed companies to disclose material ESG information, investors receive more comparative, decision-relevant data on issues like climate risk, governance practices, and social policy outcomes. This enables more informed capital allocation and reduces information asymmetry between companies and investors.

Support capital formation and access to financing

Transparent ESG disclosures have become part of how institutional and global investors evaluate markets and companies. Disclosures aligned with international standards, such as the transition to ISSB standards, can make Singapore-listed firms more attractive to sustainability-focused capital pools. This broader visibility can improve access to capital and lower the cost of financing for companies that manage sustainability risks well.

Strengthen corporate risk management and resilience

Comprehensive ESG reporting compels companies to systematically identify and govern emerging risks. This includes climate impacts, supply chain vulnerabilities, labour practices, and governance shortcomings, which can all affect long-term performance. Over time, this improves internal risk governance and facilitates proactive management of strategic, operational, and environmental challenges.

Align Singapore with global sustainability standards

By evolving its rules toward ISSB-aligned climate disclosures and mandatory reporting timelines, SGX ensures that Singapore’s capital markets are interoperable with international frameworks. This alignment helps issuers and investors compare sustainability data across jurisdictions, supports cross-border investment, and positions Singapore as a credible node in global sustainable finance ecosystems.

How Presgo Supports SGX ESG Reporting

Presgo is an AI-first ESG reporting platform packed with features to support your organisation’s compliance with regional and global frameworks, such as the ISSB standards. The platform supports SGX sustainability reporting using built-in modules that automate data collection, analysis, and disclosure generation.

Data Hub

Centralises and structures ESG data collection from across functions, from finance to HR, into a single system. It supports audit trails and automated mapping to local and global metrics, which is crucial for accurate, traceable disclosures required under SGX regulations.

Disclosure Hub

Helps ensure narratives and disclosures meet regulatory and framework requirements. Useful for SGX reporting as it includes pre-configured templates and framework mappings that can be aligned to ISSB or TCFD, which are both relevant to SGX reporting obligations.

Carbon Calculator

Automates the calculation of Scopes 1-3 emissions, which is especially relevant for the mandatory climate disclosures under SGX’s evolving standards. Accurate emissions accounting is foundational to meeting SGX climate requirements.

Materiality Assessment

Enables structured materiality analysis with stakeholder input and visual outputs. Since SGX sustainability reporting requirements urge companies to identify and explain material ESG factors, this module directly supports fulfilling that disclosure obligation.

Learn more about how you can create SGX-aligned sustainability reports using Presgo.

Singapore Exchange (SGX) Reporting Guide

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