How ISSB standards shape sustainability reporting in Singapore’s key industries

Singapore's diverse economy encompasses multiple sectors, each with unique sustainability challenges and reporting requirements under the IFRS Sustainability Disclosure Standards. The ISSB standards incorporate industry-specific guidance that helps companies focus on material sustainability issues relevant to their particular business models and stakeholder expectations.

Financial services: Leading climate risk integration

Singapore's position as a regional financial hub means many companies fall under financial services reporting requirements. Banks, insurance companies and asset managers must disclose financed emissions, which represent the greenhouse gas emissions associated with their lending, investing and underwriting activities. This requires sophisticated measurement methodologies and extensive data collection from portfolio companies.

Financial institutions must also provide detailed disclosure about climate risk integration into credit and investment decision-making processes. This includes stress testing methodologies, climate scenario analysis and how climate risks are incorporated into risk appetite frameworks. Insurance companies face additional requirements for disclosing climate-related claims exposure and adaptation strategies.

Asset managers must disclose how climate considerations are integrated into investment processes, stewardship activities and product development. This includes information about climate-focused investment products, proxy voting on climate resolutions and engagement with portfolio companies on climate issues.

Manufacturing: Supply chain and operational emissions

Manufacturing companies in Singapore face comprehensive requirements for disclosing operational and supply chain emissions. Scope 3 emissions are particularly material for manufacturers, requiring detailed analysis of purchased goods and services, transportation and end-of-life treatment of products. Companies must implement supplier engagement strategies to gather emissions data throughout their value chains.

Energy management and efficiency metrics are crucial for manufacturing disclosures, including energy intensity ratios, renewable energy usage and waste reduction initiatives. Companies must also address water usage, particularly relevant in Singapore's water-scarce environment and disclose strategies for circular economy implementation.

Chemical and pharmaceutical manufacturers face additional requirements for disclosing emissions from industrial processes and waste management strategies. These companies must provide detailed information about product stewardship and efforts to reduce environmental impacts throughout product lifecycles.

Real estate: Building performance and green construction

Singapore's real estate sector, including REITs and property development companies, must focus on building energy performance, green building certifications and tenant engagement strategies. Energy intensity metrics per square meter of floor space and greenhouse gas emissions from building operations are key disclosure requirements.

Companies must report on green building certifications such as the Building and Construction Authority's Green Mark scheme and Leadership in Energy and Environmental Design (LEED) ratings. This includes disclosure of investment in building retrofits, energy efficiency improvements and renewable energy installations.

Real estate companies must also address climate resilience, particularly important given Singapore's coastal location and exposure to physical climate risks. This includes disclosure of adaptation strategies, building design considerations for extreme weather events and insurance strategies for climate-related damages.

Technology and telecommunications: Digital infrastructure impacts

Technology companies must address the environmental impacts of digital infrastructure, including data center energy consumption, electronic waste management and supply chain emissions from hardware manufacturing. Cloud service providers must disclose data center energy efficiency metrics and renewable energy usage.

Telecommunications companies face requirements for disclosing network infrastructure emissions and strategies for reducing energy consumption while expanding network coverage. This includes information about energy-efficient equipment deployment and network optimisation initiatives.

E-commerce and digital platform companies must address packaging waste, transportation emissions from delivery services and strategies for promoting sustainable consumption through digital solutions. These companies must also disclose how their platforms enable sustainability benefits for users and society.

Transportation and logistics: Mobility and fleet emissions

Transportation companies, including shipping, aviation and logistics providers, face extensive emissions disclosure requirements covering fleet operations, fuel consumption and efficiency metrics. Companies must report on alternative fuel adoption, fleet electrification strategies and operational efficiency improvements.

Port operators and maritime logistics companies must address emissions from port operations, shore power provision for vessels and coordination with shipping companies on emissions reduction. This includes disclosure of investment in clean technology and infrastructure for supporting low-carbon transportation.

Aviation companies must disclose fuel efficiency metrics, sustainable aviation fuel usage and strategies for reducing emissions growth despite increasing passenger demand. This includes information about fleet modernisation, operational efficiency programs and carbon offset strategies.

Retail and consumer goods: Product lifecycle and consumer engagement

Retail companies must address Scope 3 emissions from product manufacturing, transportation and end-of-life treatment. This requires extensive supplier engagement and product lifecycle assessment capabilities. Companies must disclose strategies for sustainable sourcing, packaging reduction and consumer education initiatives.

Fast-moving consumer goods companies face requirements for disclosing sustainable packaging initiatives, ingredient sourcing strategies and efforts to reduce environmental impacts throughout product lifecycles. This includes information about circular economy implementation and waste reduction strategies.

Fashion and apparel companies must address supply chain transparency, sustainable materials usage and strategies for reducing textile waste. These companies must provide detailed information about supplier sustainability standards and efforts to promote sustainable consumption patterns.

Energy and utilities: Transition and grid management

Energy companies must provide comprehensive disclosure about energy transition strategies, renewable energy investments and fossil fuel phase-out plans. This includes detailed information about capital allocation toward clean energy technologies and strategies for managing stranded assets.

Utility companies must disclose grid modernisation initiatives, energy storage investments and strategies for integrating renewable energy sources. This includes information about demand response programs, energy efficiency initiatives and customer engagement strategies for promoting sustainable energy consumption.

Oil and gas companies operating in Singapore must provide detailed transition planning disclosures, including strategies for reducing operational emissions, carbon capture and storage investments and development of low-carbon energy solutions. These companies face particular scrutiny regarding the alignment of business strategies with climate goals and the credibility of transition commitments.