Singapore is part of a wave of jurisdictions adopting ISSB-informed climate disclosure standards. The Singapore Exchange Regulation and Accounting and Corporate Regulatory Authority’s roadmap for climate reporting incorporates the ISSB standards, with some limitations. Scope 1 and 2 reporting began phasing in for listed companies in 2025, and large listed companies must also report on scope 3 starting in 2026. At this point, non-climate sustainability reporting is encouraged, but not required.
Singapore is part of a growing group of jurisdictions incorporating the International Sustainability Standards Board (ISSB) framework into local climate disclosure requirements. Rather than directly adopting IFRS S1 and IFRS S2 into law, Singapore has taken an ISSB-informed, climate-first approach, embedding key elements of IFRS S2 into the SGX Listing Rules through a phased implementation roadmap jointly developed by Singapore Exchange Regulation (SGX RegCo) and the Accounting and Corporate Regulatory Authority (ACRA).
Mandatory Scope 1 and Scope 2 emissions reporting for listed companies began phasing in during 2025. For the country’s largest listed companies—Straits Times Index (STI) constituents—mandatory Scope 3 disclosure begins in 2026. At this stage, broader non-climate sustainability disclosures aligned with IFRS S1 are encouraged but not required.
In this article, we provide a comprehensive overview of Singapore’s ISSB-informed climate disclosure framework: what is required, who must comply, when reporting and assurance obligations apply, what is still evolving, and how companies should prepare.
Background: What are the ISSB Standards??
Two standards, IFRS S1 and IFRS S2, were designed to create a global baseline for climate disclosure.
Two standards—IFRS S1 and IFRS S2—were designed to create a global baseline for sustainability-related financial disclosures.
Since the ISSB finalized these standards in 2023, more than 30 jurisdictions around the world have fully or partially incorporated them into regulatory or listing-rule frameworks. IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) are designed to ensure that sustainability information provided to capital markets is consistent, comparable, and decision-useful.
The standards build on the framework established by the Task Force on Climate-Related Financial Disclosures (TCFD) and draw from other established initiatives, including the Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB). They also allow companies to leverage disclosures prepared under other regimes, such as the European Sustainability Reporting Standards (ESRS) and the Global Reporting Initiative (GRI), provided those disclosures meet investor-focused objectives.
The ISSB itself does not mandate reporting. Instead, it provides a global baseline that jurisdictions can adopt, adapt, or reference when designing their own disclosure requirements.
Why Singapore Is Aligning With ISSB
Singapore’s approach to sustainability reporting reflects its role as a global financial hub and its emphasis on maintaining credibility, comparability, and investor confidence in capital markets.
Key drivers include:
- Global investor expectations. Asset managers and lenders increasingly expect climate disclosures aligned with internationally recognized frameworks, particularly ISSB.
- Capital markets competitiveness. As a regional and global listing venue, Singapore aims to ensure its disclosure regime is aligned with international norms without imposing unnecessary complexity.
- Policy alignment. Singapore’s climate disclosure roadmap supports broader national initiatives, including the and its .
- Pragmatic implementation. By focusing first on climate disclosures (IFRS S2) and phasing requirements over time, Singapore has sought to balance regulatory ambition with operational feasibility for issuers.
Rather than adopting ISSB wholesale, Singapore has chosen a jurisdiction-specific, ISSB-informed approach, allowing regulators to tailor scope, timing, and assurance requirements to local market conditions.
How is Singapore incorporating ISSB Standards into the SGX Listing Rules?
Climate-first, ISSB-informed implementation.
Beginning in January 2025, began requiring all listed issuers to apply the climate-related requirements (IFRS S2) in the ISSB standards, with a focus on Scope 1 and Scope 2 emissions.?
Under this approach:
- IFRS S2 (Climate-related Disclosures) forms the backbone of required reporting
- IFRS S1 (non-climate sustainability disclosures) is encouraged but not mandatory
- Scope and assurance requirements are phased by company category
In August 2025, to the implementation roadmap. These updates retained mandatory Scope 3 disclosure only for STI constituents starting in 2026, while Scope 3 remains voluntary for other listed companies. In addition to emissions metrics, SGX requires qualitative climate disclosures aligned with IFRS S2, including governance, strategy, and risk management, phased in starting with the largest listed companies.
This approach reflects Singapore’s intent to stay closely aligned with the ISSB climate baseline while maintaining flexibility over scope and timing.
Who do Singapore’s climate disclosure rules apply to, and when?
An updated timeline phases in reporting for companies by category.
Singapore has adopted a phased approach to ISSB-aligned climate disclosure, with reporting obligations introduced gradually based on company size and listing status. Following industry feedback, regulators revised the original implementation plan in August 2025, resulting in an updated timeline that prioritizes climate disclosures while allowing companies additional time to prepare.
Listed companies
Under the revised roadmap, SGX-listed companies are grouped into three categories based on market capitalization:
- Category 1: Straits Times Index (STI) constituents, representing the top 30 SGX-listed companies by market capitalization
- Category 2: Non-STI listed companies with market capitalization of at least $1B USD
- Category 3: Listed companies with market capitalization below $1B USD
All listed companies are required to disclose Scope 1 and Scope 2 emissions beginning in 2025. This requirement applies uniformly across categories and was not affected by the timeline revisions.
Scope 3 disclosure, however, is mandatory only for STI constituents, who must begin reporting Scope 3 emissions in 2026. For all other listed companies, Scope 3 disclosure remains voluntary under the current framework.
Non-listed companies
Singapore’s climate disclosure regime also extends to certain large non-listed entities. Companies defined by ACRA as having:
- Annual revenue greater than $1B USD, and
- Total assets exceeding $0.5B USD
must begin Scope 1 and Scope 2 emissions reporting in 2030, with external limited assurance required from 2032. For these non-listed companies, Scope 3 disclosure remains voluntary at this stage.
By maintaining early requirements for Scope 1 and Scope 2 while deferring broader obligations for smaller and non-listed companies, Singapore’s framework reflects a proportional, climate-first implementation strategy. Companies should expect climate disclosure expectations to continue expanding over time and plan accordingly, particularly where Scope 3 data and assurance readiness are concerned.
SGX Climate Reporting Deadlines?
What are the assurance requirements for Singapore climate disclosure??
Limited assurance for scope 1 and 2 data is required on a phased basis.
Companies affected by Singapore’s climate disclosure rules must obtain assurance over their emissions data, with deadlines phased in based on company category. Under the updated timeline, all listed companies must obtain external limited assurance over their scope 1 and 2 emissions data starting in 2029, while non-listed in-scope companies must obtain external limited assurance for scope 1 and 2 starting in 2032.
How Should Companies Prepare for Singapore’s ISSB-Informed Climate Reporting?
With climate disclosure already underway for listed companies, and assurance requirements approaching, organizations in Singapore should focus on operational readiness, data quality, and governance. While current requirements are limited primarily to IFRS S2 and scopes 1 and 2, preparation should account for future expansion.
1. Clarify Applicability and Timeline Based on Company Category
Companies should begin by confirming which reporting category they fall into under the SGX and ACRA framework, as this determines both disclosure and assurance timelines. This includes:
- Confirming STI constituent status or market capitalization thresholds
- Identifying whether the company will be subject to Scope 3 disclosure requirements starting in 2026
- Understanding when limited assurance over Scope 1 and 2 data will be required
Clear alignment on timing allows teams to prioritize near-term compliance activities while planning for longer-term requirements.
2. Establish ISSB-Aligned Scope 1 and 2 Data Processes
Because Scope 1 and 2 disclosure is already mandatory for all listed companies, organizations should ensure their emissions data is:
- Calculated using consistent, documented methodologies
- Supported by reliable activity data and transparent emission factor sources
- Centralized and traceable across reporting periods
Given upcoming assurance requirements, companies should assess whether current data collection processes are sufficiently robust and auditable, rather than relying on manual or fragmented approaches.
3. Prepare for Assurance Early
Singapore’s roadmap places a strong emphasis on external assurance, with limited assurance for Scope 1 and 2 emissions required starting in 2029 for listed companies. To prepare, organizations should:
- Document assumptions, estimates, and calculation methodologies
- Define internal controls for emissions data review and approval
- Conduct internal readiness assessments or mock assurance exercises
Treating emissions data with the same rigor as financial information will reduce risk and minimize disruption as assurance deadlines approach.
4. Develop a Targeted Scope 3 Strategy
While Scope 3 disclosure is currently mandatory only for STI constituents, companies should begin assessing Scope 3 exposure now, particularly if they expect to fall within future requirements or face investor pressure. This includes:
- Identifying material Scope 3 categories based on business model and value chain
- Prioritizing high-impact categories such as purchased goods and services or upstream transportation
- Evaluating supplier data availability and engagement needs
Early Scope 3 planning supports smoother implementation and higher-quality disclosures if requirements expand.
5. Align Climate Disclosures With Risk and Strategy
Even where quantitative requirements are limited, SGX requires qualitative climate disclosures aligned with IFRS S2, including governance, strategy, and risk management. Companies should:
- Integrate climate risks into enterprise risk management and strategic planning processes
- 気候関连リスクに対する役员会および経営阵による监督が明确に文书化されていることを确认する
- 记述的开示と里付けとなるデータおよび分析を整合させ、一贯性を确保する
この整合性により、规制遵守が强化されるとともに、意思决定に役立つ情报に対する投资家の期待に応えることができます。?
シンガポールにおける滨厂厂叠準拠の気候関连开示への準备
最近の遅延にもかかわらず、シンガポールの上场公司はすべて気候関连开示规制の対象となっており、スコープ1および2排出量の报告が进行中です。国内最大手公司の场合、スコープ3の报告は2026年から开始されます。开示に备え、また急速に迫る保証の期限に间に合わせるため、组织はデータが监査可能で透明性があることを保証するシステムを今すぐ导入する必要があります。信頼性の高い炭素会计は、厂骋齿上场要件のためだけでなく、世界的な滨厂厂叠採用の波に対応するためにも不可欠です。?
よくある质问：シンガポールにおける滨厂厂叠と気候関连报告
シンガポールでは滨厂厂叠は义务ですか？
いいえ。シンガポールはIFRS S1またはIFRS S2を直接法制化していません。しかし、SGX RegCoの気候関連开示要件はIFRS S2に整合しており、ISSBは対象企業にとって非常に重要です。
シンガポールでは、谁が滨厂厂叠準拠の报告を遵守する必要がありますか？
SGX上場企業はすべて、スコープ1およびスコープ2排出量を开示しなければなりません。追加要件は時価総額に基づいて適用され、Straits Times Index (STI)構成銘柄は最も広範な義務の対象となります。
シンガポールでは、スコープ3报告はいつ义务付けられますか？
スコープ3排出量报告は、2026年から厂罢滨构成铭柄にのみ义务付けられます。その他の上场公司および非上场公司の场合、スコープ3开示は引き続き任意です。
非上场公司は気候データの报告を义务付けられていますか？
はい。础颁搁础が定义する大规模非上场公司は、2030年にスコープ1および2の报告を开始しなければならず、2032年からは限定的保証が义务付けられます。
シンガポールの気候関连开示には、どのような保証が义务付けられていますか？
スコープ1およびスコープ2排出量に対する外部限定的保証は、上场公司には2029年から、大规模非上场公司には2032年から义务付けられます。
シンガポールはIFRS S1サステナビリティ开示を義務付けていますか？
いいえ。現時点では、シンガポールにおいてIFRS S1に基づく非気候関連サステナビリティ开示は推奨されていますが、義務ではありません。
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