Singapore’s Current ESG & Climate-Reporting Regime and What’s Coming Next (2025)

Singapore is moving into a new era of environmental, social and governance (ESG) regulation, anchored on internationally aligned climate-reporting standards. The goal: to enhance transparency, improve comparability across companies, and support sustainable finance.

Current ESG Regime in Singapore

1. Mandatory Climate-Related Disclosures (CRD) — Phased Introduction

Singapore has introduced mandatory climate-related disclosures through a phased, risk-based approach. Companies will be required to prepare annual climate disclosures aligned with the International Sustainability Standards Board (ISSB) framework.

Companies are given transitional reliefs, including:

Additional time before reporting Scope 3 emissions
Gradually phased-in requirements for external limited assurance on Scope 1 & 2 emissions

2. SGX-Listed Companies

Sustainability reporting has been mandatory for SGX-listed issuers for several years under the SGX Sustainability Reporting Guide. Listed companies must disclose:

Material ESG factors
Sustainability policies and practices
Performance metrics
Governance structure for sustainability

This forms the foundation for the more rigorous ISSB-aligned climate disclosures being phased in.

What’s Coming — New and Upcoming Requirements

For SGX-Listed Companies

From FY2025: All listed companies must report climate-related disclosures aligned with ISSB, including mandatory disclosure of Scope 1 and Scope 2 greenhouse gas (GHG) emissions.
From FY2026: Other ISSB-related climate disclosure components expand in scope for listed issuers.
From FY2026: STI Index companies will be required to report Scope 3 emissions (value-chain emissions).
By FY2029: External limited assurance for Scope 1 & 2 emissions will be required.

Table 1 – Summary of updated climate reporting requirements for listed companies (updates highlighted in yellow)

For Large Non-Listed Companies

Mandatory climate reporting will also extend to large non-listed firms (e.g. ≥ S$1 billion annual revenue and ≥ S$500 million total assets):

From FY2030: Begin mandatory ISSB-aligned climate disclosures (Scope 1 & 2).

This extends climate transparency to major private companies with significant market presence.

Table 2 – Summary of updated climate reporting requirements for large NLCos (updates highlighted in yellow)

Why These Changes Matter

1. For Listed Companies

Climate reporting is becoming fully mandatory, with a higher level of detail and governance expected. Companies must strengthen:

Data-collection systems
Emissions accounting (Scope 1, 2 — and Scope 3 for certain companies)
Internal controls and reporting governance
Preparation for future external assurance requirements

2. For Large Non-Listed Companies

These companies must start preparing early, even before the rules take effect. This includes:

Building sustainability reporting capabilities
Establishing data systems for emissions and climate-risk measurement
Coordinating group-wide reporting where relevant

3. For Investors, Banks & Stakeholders

Standardised, comparable and auditable climate disclosures allow:

Better risk assessment
More consistent ESG evaluation
Improved sustainable-finance decisions

4. For Singapore’s Sustainability Ecosystem

Aligning with global ISSB standards enhances:

International comparability
Access to global capital markets
Participation in regional and global sustainability initiatives

Why This Matters to You — Procurement and Business Impact

From FY2024, Government Procurement Entities (GPEs) have incorporated environmental sustainability into tender evaluations. Up to 5% of tender points may be set aside for environmental criteria in certain sectors.

Large Construction Tenders — Evaluation Includes:

Suppliers’ climate-related disclosures
Degree of decarbonisation in construction processes
Relevant environmental certifications

ICT Hardware Tenders — Evaluation Includes:

Climate-related disclosures
Environmental certifications for products
Use of sustainable packaging

Private Sector Tendencies

Major private organisations are also introducing ESG-weighted tender scoring. Examples include:

Changi Airport Group

All bidders must:

Demonstrate how their product/service meets environmental criteria
Achieve a minimum environmental score to be awarded the project

SMRT

Applies a 5% sustainability weightage for tenders above S$1 million
Requires potential tenderers to submit Scope 3 emissions associated with SMRT’s procurement, and outline mitigation plans for Scope 1, 2 and 3 emissions

This trend shows that ESG compliance is no longer optional — it is increasingly tied to commercial opportunity and competitiveness.

Conclusion

Singapore’s ESG and climate-reporting landscape is evolving quickly, with mandatory ISSB-aligned disclosures progressively extending to both listed and large non-listed companies. These changes will significantly impact how organisations collect data, measure emissions, structure governance and meet stakeholder expectations.

If your organisation needs guidance on ESG compliance, climate reporting, emissions measurement or tender-readiness, our team is ready to help. We provide practical, business-focused advice to support you through every stage — from initial assessment to full reporting implementation.

Speak to us today to ensure you stay compliant, competitive and future-ready.