To support Singapore-listed companies in navigating mandatory climate-related disclosures in their sustainability reporting, the Institute of Singapore Chartered Accountants (ISCA) has partnered with the Singapore Exchange Regulation (SGX RegCo) to launch training workshops to help companies gain an overview of sustainability reporting.
According to a Feb 24 announcement. the workshop aims to help companies understand the key differences between Global Reporting Initiative (GRI) and International Sustainability Standards Board (ISSB) standards with practical training, and ensure that they are equipped with the necessary skillsets to comply with ISSB standards.
Through the one-day workshop, Singapore listed entities can benefit by learning about best practices in sustainability reporting through “hands-on practical exercises and case studies”, says ISCA.
The first session will take place on April 17, with seven more sessions scheduled till September.
Each iteration of the workshop will last from 9am to 5pm, and SGX RegCo will partially sponsor workshop fees for up to 400 attendees.
According to course details on ISCA’s website, SGX RegCo will subsidise the workshop fees for the first two representatives from each Singapore-listed company. After subsidies, the course fee per participant is $436, inclusive of prevailing GST, down from $654.
See also: ISCA, SGX RegCo launch mock sustainability report as guide for companies
ISCA President Teo Ser Luck says: “As Singapore’s national accountancy body, ISCA is well-placed to help listed companies build their sustainability reporting skills with the right expertise and guidance. Our partnership with SGX RegCo highlights the importance of continuous learning in maintaining strong accountability and transparency in Singapore’s capital markets. This training programme reflects our commitment to equipping businesses with the knowledge they need to adapt to changing regulatory demands.”
SGX RegCo CEO Tan Boon Gin says: “SGX RegCo is committed to supporting listed companies in adopting the IFRS Sustainability Disclosure Standards. Customers are becoming more discerning about the sustainability credentials of the products and services they consume. This, in turn, will increasingly drive companies to align themselves with the latest standards. Training, such as these workshops with ISCA, will help companies to meet customer expectations by building up their reporting capabilities.”
Other resources
See also: Why banks keep lowering their climate targets
The workshop follows the release of ISCA’s Illustrative Sustainability Report: Based on the GRI Standards and IFRS Sustainability Disclosure Standards in October 2024. The mock sustainability report aims to help firms that are already reporting under the GRI standards to also adopt the ISSB’s standards.
The 62-page document is based on a hypothetical listed entity operating in the real estate industry in Singapore with a mix of commercial and retail properties. The mock sustainability report also includes “section context” and “guidance notes” at the foot of each chapter, which explain the rationale behind certain reporting requirements and recommended steps.
In March 2024, SGX RegCo consulted the market on details of how the ISSB standards are to be incorporated into its sustainability reporting rules for climate-related disclosures. In September 2024, SGX RegCo announced that all listed companies must adopt ISSB standards from FY2025.
Read more about how Singapore is adopting the ISSB standards:
- SGX RegCo will require ISSB-aligned climate-related disclosures from all listed issuers starting FY2025 (September 2024)
- ‘Huge momentum’ in Asia for ISSB adoption, says vice-chair of climate reporting standards body (September 2024)
- SGX RegCo launches consultation on incorporating ISSB standards into sustainability reporting rules (March 2024)
- Large private companies must report annual climate-related disclosures from FY2027: Acra, SGX RegCo (February 2024)
- SGX RegCo to seek feedback by year-end on mandating ISSB-aligned climate reporting (September 2023)
- ISSB standards 'best chance we have' at consistent sustainability reporting: SGX RegCo (July 2023)
- ISSB issues inaugural standards, creating common language for climate-related impact on companies (June 2023)
