Business · Companies · 52 mins ago
Singapore's largest listed firms report gaps in climate data
Singapore's largest listed companies are still building their climate data a year after new reporting rules took effect.
A review of 24 companies in the Straits Times Index found that many did not put a financial value on climate risks, and some had not independently checked their emissions.
The gaps make it harder to see how climate risks could affect companies financially and to use disclosures in business planning and investment.
Independent checks are voluntary until the 2029 financial year, and companies took different approaches in their first reports.
Singapore's accounting regulator has proposed full compliance statements from 2028 and sustainability reports published alongside financial statements.
The public consultation on the proposed changes closed on 25 October, and industry practitioners have called for clearer guidance and time to improve data.
The next step is for regulators to finalise the rules, while independent emissions checks are due to begin under the existing timetable in 2029.
Many of Singapore’s largest listed companies have not quantified the financial impact of climate risks or independently verified their emissions, an Eco-Business review found.
The review covered the first climate reports of 24 Straits Times Index companies under Singapore’s new sustainability rules.
Sixteen companies published climate disclosures with their annual reports, while at least five published them weeks later.
Independent emissions checks are voluntary until financial year 2029, and companies took different approaches in the first reporting year.
Proposed changes would require listed companies to declare full compliance with the climate reporting standard from financial year 2028.
- Who
- Singapore’s largest listed companies, including 24 Straits Times Index companies reviewed by Eco-Business.
- What
- Many have not quantified the financial impact of climate risks or independently verified their emissions in their first reports under new sustainability rules.
- When
- A year into mandatory climate reporting; the review was published on 10 November 2026.
- Where
- Singapore.
- Why
- The rules require climate reporting, while proposed changes would require full compliance from financial year 2028. The sources do not state why individual companies have gaps.
This story does not have two clearly opposing sides.
Singapore’s new sustainability rules took effect, and companies began publishing climate disclosures.
Public consultation on proposed changes to the rules closed.
Proposed changes would require listed companies to declare full compliance with the climate reporting standard.
Independent checks on companies’ emissions are due to begin under the existing timetable.
- Companies reviewed
- 24 Straits Times Index companies
- Published with annual reports
- 16 companies
- Published later
- At least 5 companies
- Limited assurance
- Around 10 companies
- Full compliance proposed
- Financial year 2028
- Independent emissions checks
- Due to begin in financial year 2029
What people are saying
The focus is shifting from mere disclosure of climate-related information to the quality of the governance, methodologies, data and controls supporting those disclosures
a shiny report that no one reads anyway