Singapore Proposes Stricter Climate Reporting Rules for Listed Companies
What happened
The Accounting and Corporate Regulatory Authority (ACRA) proposed new, stricter climate reporting rules for businesses in Singapore. An Eco-Business review found that many of the 24 Straits Times Index companies reviewed had not quantified the financial impact of climate risks or obtained independent verification of their emissions. The proposed changes would require listed companies to declare full compliance with the climate reporting standard starting in 2028.
From eco-business.com
Why it matters
These proposals increase regulatory requirements for listed companies in Singapore. The need for compliance and verification may drive increased demand for climate assurance and ESG consulting services in the region.
From eco-business.com
Who's involved
- SingaporeLocation where the regulatory changes are being proposed
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Jardine MathesonSpeculative
Jardine Matheson might face increased costs related to meeting stricter climate reporting requirements.
- KPMGSpeculative
KPMG could see increased demand for climate assurance and ESG consulting services in Singapore.
- Grant Thornton LLPSpeculative
Grant Thornton LLP may benefit from growing market demand for compliance services.