Singapore Climate Disclosures Off to Slow Start as Rules Kick In
- Nation lags global peers on TCFD-based disclosures: study
- City began phasing in climate-related reporting a year ago
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Singapore Inc. has some ways to go when it comes to climate-related disclosures, as mandatory reporting rules are set to kick in.
Only 43% of Singapore-listed companies made disclosures in line with at least five of the recommendations of the Task Force on Climate-related Financial Disclosures in their 2022 fiscal year sustainability reports. This is according to a biennial study by Singapore Exchange Ltd.’s regulatory arm and the Centre for Governance and Sustainability at the NUS Business School. That’s lower than the global average of 58%, based on the latest TCFD data.