Both bourses are seeking to incorporate the TCFD recommendations into their sustainability reporting regimes, extending a trend of convergence in regional ESG reporting standards.
By Paul A. Davies, Timothy Hia, and Sabrina Singh
On August 26, 2021, the Singapore Exchange Regulation (SGX RegCo) released a consultation paper proposing amendments to the sustainability reporting (SR) regime of the Singapore Exchange (SGX). The proposed changes would require Singapore-listed issuers to move toward including in their sustainability reports climate-related disclosures that are consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD Recommendations).[1] As part of the same paper, SGX RegCo is also seeking to require issuers to maintain and monitor a board diversity policy.