Singapore Exchange Plans Mandatory Climate-Related Disclosures
Singapore will require mandatory climate-related disclosures for listed companies under proposals that aim to meet rising investor demand for commitments to tackle climate change.
Starting from the 2022 financial year, all firms will need to publicize information in line with recommendations from the Task Force on Climate-Related Financial Disclosures, according to a proposal by the regulatory arm of Singapore Exchange Ltd. Those that do not will be required to explain why.
Singapore’s move would be among the more aggressive efforts amid a global push from investors for more companies and countries to meet Paris Agreement targets through an energy transition to lower carbon emitting sources. The requirements could aid the status of Singapore as a finance hub, where some $3.5 trillion worth of investors’ assets are parked, if local regulators can ensure compliance with tougher disclosure rules related to climate change and governance.
Source: https://www.bnnbloomberg.ca/singapore-exchange-plans-mandatory-climate-related-disclosures-1.1644349