Singapore’s mandatory climate reporting: What companies must know for 2025
新加坡已將自己定位為可持续性 報告的區域領導者，從 2025 年開始實施強制性氣候相關披露。這一突破性的舉措與國際可持续性 發展標準委員會（ISSB）發佈的《國際財務報告準則》（IFRS）可持续性 披露標準一致，標誌著新加坡成為亞洲首個強制實施全面氣候報告的司法管轄區。
The regulatory framework
The Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) jointly announced these requirements following recommendations from the Sustainability Reporting Advisory Committee (SRAC). The mandatory reporting framework builds upon the existing Task Force on Climate-related Financial Disclosures (TCFD) requirements that have been in place for listed companies since 2022, creating a more effective and internationally aligned reporting system.
Implementation timeline for listed companies
Starting from Financial Year 2025, all listed companies in Singapore must report Scope 1 and Scope 2 greenhouse gas emissions in accordance with IFRS S2 standards. These companies must also provide comprehensive climate-related disclosures covering governance, strategy, risk management and metrics and targets. From FY 2026, larger listed companies will be required to report Scope 3 emissions, though SGX RegCo will prioritise implementation based on market capitalisation thresholds that are still being finalised.
Large non-listed companies join the journey
Large non-listed companies with annual revenue of at least S$1 billion and total assets of at least S$500 million will begin mandatory climate reporting from FY 2027. These companies will follow a similar timeline to listed entities, with Scope 3 reporting requirements expected no earlier than 2029. Importantly, companies whose parent entities already report under ISSB standards or equivalent frameworks like the European Sustainability Reporting Standards (ESRS) may be exempt from duplicative reporting.
Key compliance requirements
Companies must ensure their sustainability reports are issued alongside annual reports from FY 2026, unless they undergo external assurance, which extends the deadline to five months after the financial year-end. The reports must address material Environmental, Social andGovernance (ESG) factors, outline policies and strategies, set measurable targets and include board statements on sustainability practices.
Transitional provisions and support
Recognising the complexity of implementing these new standards, Singapore has built in several transitional provisions. Companies already reporting under other internationally recognised standards will have a three-year transition period to align with ISSB standards. Additionally, the government has committed to providing funding support of up to 30% for large companies implementing mandatory climate-related disclosures.
Strategic benefits for businesses
Beyond compliance, these reporting requirements offer strategic advantages. Companies providing comprehensive climate disclosures gain improved access to sustainable financing, better stakeholder relationships and enhanced reputation among environmentally conscious consumers and investors. The standardised framework also facilitates more accurate benchmarking against industry peers and international competitors.
Preparing for success
Companies should begin preparation immediately by conducting materiality assessments, establishing data collection systems for emissions tracking and building internal capacity for sustainability reporting. Engaging with qualified sustainability consultants and establishing cross-functional teams involving finance, operations and sustainability professionals will be crucial for successful implementation.
The mandatory climate reporting requirements represent more than regulatory compliance –they signal Singapore's commitment to becoming a leading green economy and provide companies with the framework to demonstrate their environmental leadership in an increasingly climate-conscious business environment.
