ISCA partners SGX RegCo to launch training workshops to support listed companies with sustainability reporting

24 February 2025 - To support Singapore-listed companies in navigating mandatory climate-related disclosures in their sustainability reporting, the Institute of Singapore Chartered Accountants (ISCA) have partnered with the Singapore Exchange Regulation (SGX RegCo) to launch training workshops to help companies gain an overview of sustainability reporting, as well as a comprehensive understanding of the application of the requisite International Sustainability Disclosure Standards.

After the government’s announcement in early 2024 that Singapore will introduce mandatory climate-related disclosures, they also acknowledged that some companies may have started sustainability reporting using other internationally recognised standards and frameworks. This workshop aims to help companies understand the key differences between GRI and ISSB standards with practical training, and ensure that they are equipped with the necessary skillsets to comply with ISSB standards.

Through the workshop, Singapore listed entities can benefit by learning about best practices in sustainability reporting, including the application of International Sustainability Standards Board (ISSB) Standards through hands-on practical exercises and case studies. SGX RegCo will also partially sponsor the workshop fees for up to 400 attendees from participating listed companies, reinforcing a joint commitment between ISCA and SGX RegCo to support the implementation of sustainability reporting standards, help companies prepare information and help investors to receive decision-useful information. Eight sessions are planned to take place from April to September 2025.

The first session will take place on 17 April 2025, covering topics such as Singapore’s climate reporting and assurance roadmap, and the key differences between the currently-adopted Global Reporting Initiative (GRI) reporting standards and the newly-adopted ISSB standards. Through hands-on practical exercises and case studies, participants will also learn to perform climate-related disclosures, including current and anticipated financial effects and scenario analysis, in accordance with the requirements of IFRS S2.

The collaboration between ISCA and SGX RegCo follows the October 2024 launch of ISCA’s Illustrative Sustainability Report: Based on the GRI Standards and IFRS Sustainability Disclosure Standards, a guide developed to provide clarity to entities which are already reporting under the GRI Standards on how to also adopt climate-related requirements under the ISSB’s International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards. 

SGX RegCo enhanced its sustainability reporting regime in September 2024, and will start incorporating the latest international standards, following broad support from respondents to a public consultation [1].

ISCA President Mr Teo Ser Luck said, “As Singapore’s national accountancy body, ISCA is well-placed to help listed companies build their sustainability reporting skills with the right expertise and guidance. Our partnership with SGX RegCo highlights the importance of continuous learning in maintaining strong accountability and transparency in Singapore’s capital markets. This training programme reflects our commitment to equipping businesses with the knowledge they need to adapt to changing regulatory demands.”

SGX RegCo CEO Tan Boon Gin said: “SGX RegCo is committed to supporting listed companies in adopting the IFRS Sustainability Disclosure Standards. Customers are becoming more discerning about the sustainability credentials of the products and services they consume. This in turn will increasingly drive companies to align themselves with the latest standards. Training such as these workshops with ISCA will help companies to meet customer expectations by building up their reporting capabilities.”

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[1] SGX RegCo consulted the market in March 2024 on details of how ISSB standards are to be incorporated into its sustainability reporting rules for climate-related disclosures