ESG reporting has become an important part of doing business in Singapore. Investors, banks, customers, and regulators increasingly want to understand how companies manage environmental, social, and governance (ESG) issues alongside their financial performance.
Singapore has also introduced new sustainability reporting requirements in recent years. According to ACRA's sustainability reporting roadmap, mandatory ISSB-aligned climate disclosures are being phased in from FY2025, with all listed companies and certain large non-listed companies expected to come within the reporting framework by FY2030. This marks one of Singapore's most significant corporate reporting reforms in recent years.
In this blog, we will explain what ESG reporting is, the latest reporting requirements in Singapore, key ESG frameworks, common reporting challenges, and the practical benefits ESG reporting can bring to businesses.
ESG reporting is the process of disclosing information about a company's environmental, social, and governance performance. It helps stakeholders understand how a business manages sustainability-related risks and opportunities alongside its financial performance.
The objective is to provide greater transparency and demonstrate how sustainability considerations are integrated into business operations and decision-making.
ESG reporting in Singapore is becoming mandatory as part of the shift toward ISSB-aligned climate disclosures under ACRA and SGX RegCo.
Singapore supports ESG adoption through funding schemes such as the Enterprise Development Grant (EDG) and the Productivity Solutions Grant (PSG), which help businesses offset the costs of sustainability consulting, carbon reporting tools, and energy-efficiency improvements.
Initiatives such as SME Go Digital and green financing incentives further support digital ESG adoption and low-carbon investments, making it easier for companies to meet reporting requirements and sustainability goals.
Singapore follows a phased approach to ESG reporting to give businesses time to adapt. The requirements are gradually increasing in scope and depth.
From FY2030, companies meeting both thresholds must comply:
This phased rollout gives businesses time to build systems, collect data, and strengthen reporting processes.
An ESG report should provide a clear picture of how a company manages sustainability-related risks and opportunities, and of its business performance. The information disclosed should be relevant, measurable, and aligned with the company's operations and industry.
Most ESG reports typically include:
Beyond compliance, ESG reporting helps businesses identify risks earlier, improve operational transparency, strengthen stakeholder trust, and support long-term growth.
Singapore's ESG reporting framework is increasingly aligned with global sustainability standards to improve transparency and consistency across businesses. Depending on their reporting obligations and stakeholder expectations, companies may use one or more of the following frameworks:
|
Framework |
What It Covers |
|
ISSB (IFRS S1 & S2) |
The global baseline for sustainability and climate-related disclosures. Singapore is progressively adopting ISSB standards for listed companies and certain large non-listed companies. |
|
GRI Standards |
A widely used framework covering environmental, social, and governance impacts across the business. |
|
TCFD Framework |
Focuses on climate-related risks, opportunities, governance, and risk management. Many of its principles are now incorporated into ISSB standards. |
|
SASB Standards |
Provides industry-specific ESG metrics that help investors assess financially material sustainability issues. |
|
SGX Sustainability Reporting Guide |
Offers reporting guidance for SGX-listed companies and recommends key ESG metrics and disclosures. |
As ESG reporting requirements continue to expand in Singapore, businesses should start preparing early. Building the right processes now can make reporting easier, improve data accuracy, and reduce future compliance risks.
Some practical steps companies can take include:
ESG reporting is quickly becoming a core part of corporate governance and regulatory compliance in Singapore. With mandatory climate-related disclosures already underway and reporting requirements expanding through FY2030, businesses should start building their ESG reporting capabilities now.
More importantly, ESG reporting is not just about meeting regulatory obligations. It helps businesses improve transparency, strengthen risk management, build investor confidence, and respond to growing stakeholder expectations.
With the right preparation, ESG reporting becomes less of a burden and more of a way to strengthen business performance. Ascentium supports businesses in building practical ESG reporting systems, staying compliant, and adapting to Singapore’s evolving sustainability requirements.