ISCA Drives Collective Effort to Strengthen Singapore’s Climate and Social Impact Reporting Ecosystem

The Institute of Singapore Chartered Accountants (ISCA) and its partners have launched three landmark publications that advance Singapore’s sustainability reporting ecosystem and strengthen the credibility of both climate and social impact disclosures today.

Developed in partnership with the Singapore Exchange Regulation (SGX RegCo), the National Council of Social Service (NCSS), the Singapore Institute of Directors (SID), and PwC Singapore, the publications reflect ISCA’s leadership in helping businesses, professionals, and the wider community build the capabilities needed to navigate Singapore’s evolving sustainability reporting demands.

The three publications unveiled at today’s ISCA Conference are:

• A Climate Reporting Roadmap developed by ISCA’s Sustainability and Climate Change Committee and SGX RegCo to help non-Straits Times Index (non-STI) issuers meet the extended climate reporting timelines announced by the Accounting and Corporate Regulatory Authority (ACRA) and SGX RegCo in August 2025;
• Guidelines for Social Impact Metrics in Corporate Sustainability Reporting, which the NCSS put together in partnership with ISCA and SID to guide organisations in measuring and communicating their social impact;

• An ESG Assurance Landscape Study conducted by PwC, ISCA and SGX RegCo which examined whether SGX-listed companies are prepared for the looming mandatory sustainability assurance.

Together, these initiatives reflect a coordinated national effort to enhance the quality and consistency of sustainability reporting, strengthening trust in disclosures that underpin Singapore’s transition to a more sustainable and inclusive economy.

ISCA’s Role in Building a Trusted Sustainability Ecosystem

As Singapore moves toward mandatory climate-related disclosures and external assurance of sustainability reports, ISCA plays a pivotal role as the bridge between regulation and practice.

Through its collaborations with regulators, industry, and the social sector, ISCA provides practical guidance, and research insights that collectively raise reporting quality and strengthen assurance readiness. These latest publications mark the next phase of ISCA’s long-term strategy to bolster reliability and transparency across both corporate and community impact reporting.

Roadmap to Support Non-STI Issuers in Meeting Extended Climate Reporting Timelines

In their announcement, ACRA and SGX RegCo said all issuers must still report Scope 1 and 2 greenhouse gas (GHG) emissions from financial years commencing (FYC) on or after 1 January 2025.

Non-STI constituent issuers with a market capitalisation of $1 billion and above must provide International Sustainability Standards Board (ISSB) Standards climate-related disclosures (excluding Scope 3 GHG emissions) from FYC 2028 while the remaining non-STI constituents will follow from FYC 2030.

To guide companies’ progress towards producing high-quality climate reports, the roadmap sets out a structured approach for companies to conduct gap analyses, enhance governance structures, and build internal capabilities.

Boards and management can use the roadmap as a reference to assess progress, plan capacity-building efforts, and ensure readiness ahead of the mandatory reporting deadlines. The roadmap also aligns the wider ecosystem, including directors, auditors, consultants, and regulators, in supporting non-STI and large non-listed companies as they strengthen their sustainability reporting practices.

Mr Tan Boon Gin, CEO of SGX RegCo said: “Most journeys today start with a map on the mobile. Likewise, this roadmap is a good starting point for companies preparing high-quality climate reports. Issuers will find in it disclosure requirements distilled into manageable components and aligned with the climate strategy setting process of the organization.”

Please visit the webpage here to access the roadmap.

Guidelines for Social Impact Metrics in Corporate Sustainability Reporting

Guest-of-Honour Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and National Development, launched the Guidelines for Social Impact Metrics in Corporate Sustainability Reporting at the ISCA Conference, marking a key milestone in advancing Singapore’s sustainable philanthropy and social impact agenda.

The National Council of Social Service (NCSS) has partnered with the Institute of Singapore Chartered Accountants (ISCA) and Singapore Institute of Directors to develop technical Guidelines for Social Impact Metrics in Corporate Sustainability Reporting, focusing on the 'Social' component of ESG.

This set of guidelines build on the NCSS Sustainable Philanthropy Framework and social impact metrics launched last year with the twin goals of achieving business success and making meaningful social impact. The guidelines take this further, offering practical guidance for corporates who wish to better understand and apply the social impact metrics under broader sustainability frameworks and standards, including the Global Reporting Index and Singapore Exchange (SGX) standards.

“Through this partnership with ISCA and SID, NCSS’ Guidelines for Social Impact Metrics Reporting give companies practical tips on measuring what matters, and help organisations align the measurement with international standards. As more companies integrate community investment into their ESG strategies, clearer reporting will channel resources to where they create the greatest social impact,” said Mr Jack Lim, Group Director, Philanthropy Group, NCSS.

Please visit the webpage here to access the Guidelines for Social Impact Metrics in Corporate Sustainability Reporting. More updates on new social impact reporting initiatives will be shared by ISCA in 2026.

ESG Assurance Landscape Study: Varied Levels of Readiness Among Singapore-Listed Companies

In anticipation of the upcoming mandatory climate reporting assurance requirements, PwC Singapore, with support from ISCA and SGX RegCo, conducted an ESG Assurance Landscape Study titled “Trust in Transition: Building Confidence in Sustainability Disclosure” to assess companies’ preparedness.

The study found that only 17% of Singapore-listed companies have already obtained external assurance for their sustainability reports, while 35% plan to do so soon. However, nearly half (47%) have yet to make concrete plans, indicating a readiness gap and highlighting the need for further capacity-building and transition guidance.

These findings reinforce ISCA’s ongoing efforts to strengthen assurance readiness among both reporting entities and professionals, ensuring that sustainability disclosures are credible, consistent, and verifiable.

Mr Terence Lam, Director of Advocacy & Professional Standards at ISCA, said: “While timelines are extended, we cannot take our foot off the pedal. The conversation on sustainability reporting must move beyond compliance toward reliable, decision-useful information that builds trust and drives action. ISCA remains committed to developing the professional and organisational capabilities needed to meet this pressing demand. These publications are part of our broader effort to prepare businesses and professionals for a more connected approach to climate, community and corporate accountability.”

Mr Lee Bing Yi, Financial Services Assurance, Sustainability and Climate Change Partner, PwC Singapore said: “With the extension of mandatory sustainability assurance timeline in Singapore, it is crucial that companies make good use of this time to build capacity towards credible reporting and assurance readiness. Our study noted that whilst larger companies are leading the way in sustainability assurance, the wider market still lags significantly, and there are notable gaps between large and smaller companies that need to be addressed. Encouragingly, assurance readiness assessments are gaining traction among Singapore businesses, with over eight in ten STI constituents and larger non-STI companies having either conducted or are considering assurance readiness assessments. This positively signals the growing recognition of assurance in building trust and the value in starting early.”

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Seah Yi Qin

Manager, Communications

Tel: +65 9833 3904

Email: yiqin.seah@isca.org.sg

About the Institute of Singapore Chartered Accountants (ISCA)

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with around 43,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.