The Singapore Exchange (SGX) has issued a
draft sustainability reporting policy statement and guide intended
to encourage more companies to adopt sustainability reporting in
Singapore, where it is currently voluntary.
The SGX suggested that as more companies adopt
sustainability reporting, it will be natural to evolve from
guidelines to standards and rules.
The SGX policy statement on sustainability
reporting details principles for listed companies to follow. These
include:
- Company boards are responsible for matters of
sustainability; - Environmental, social and governance
considerations are important for the long term performance of a
company; - Companies should use appropriate reporting
standards for their industry and circumstances; - No single standard is advocated, although the
Global Reporting Initiative’s Sustainability Reporting Guidelines
are singled out as a globally recognised standard; - Applying global standards is important for
cross-jurisdictional comparability and gives confidence that
SGX-listed companies aim to achieve global best practices.
The SGX is seeking feedback on the draft
sustainability reporting guide and policy statement by 29
October.
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