Singapore: extended timelines for most climate reporting requirements for listed and large non-listed companies

On 25 August 2025, the Accounting and Corporate Regulatory Authority of Singapore and the Singapore Exchange Regulation announced an extension to the timelines for implementing climate reporting (including external assurance) requirements (see our previous blog post).

All companies which are listed on the Singapore Exchange (SGX) will continue to report Scope 1 and 2 greenhouse gas (GHG) emissions from the financial year (FY) commencing on or after 1 January 2025, while Straits Times Index (STI) constituents will lead efforts to implement other International Sustainability Standards Board (ISSB)-based climate-related disclosures (CRD) from FY2025, and Scope 3 GHG emissions from FY2026. 

The extension of timelines took into consideration feedback received on the varying levels of resources and readiness in climate reporting, especially for smaller listed companies that would need more time to be fully ready for ISSB-based CRD. The time extension is intended to allow them to build up data collection processes and learn from larger companies who have started to produce ISSB-based CRD.

Changes applicable to listed companies

There is now a three-tiered structure to phase in climate reporting obligations based on market capitalisation for SGX listed companies:

• Straits Times Index (STI) constituents (being the top 30 companies listed on the SGX, based on market capitalisation); 
• Non-STI constituent listed companies with a market capitalisation of S$1 billion and above; and 
• Non-STI constituent listed companies with a market capitalisation of less than $1 billion.

Scope 1 and 2 GHG emissions: Scope 1 and 2 GHG emissions reporting will remain mandatory for all listed companies from FY2025 as these constitute key information in tracking companies’ decarbonisation progress. 

Scope 3 GHG emissions: Scope 3 GHG emissions reporting will remain mandatory for STI constituent listed companies from FY2026. For other non-STI constituent listed companies, Scope 3 GHG emissions reporting will be voluntary until further notice. 

Other ISSB-based CRD: Other ISSB-based CRD relate to information on how companies manage climate-related risks and opportunities through their governance, strategy, and risk management, along with the key metrics and targets they use to measure progress. Such other ISSB-based CRD (beyond Scope 1, 2 and 3 GHG emissions) will remain mandatory for STI constituent listed companies from FY2025. Non-STI constituent listed companies with a market capitalisation of S$1 billion and above will be required to report other ISSB-based CRD from FY2028. Non-STI constituent listed companies with a market capitalisation of less than S$1 billion will follow from FY2030. 

External limited assurance: External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2029 for all listed companies.

A summary of these changes is set out below (with extensions highlighted): 

Changes applicable to large non-listed companies (Large NLCos):

The approach for Large NLCos is updated as follows:

• ISSB-based CRD (including Scope 1 and 2 GHG emissions) are deferred to FY2030.
• Scope 3 GHG emissions reporting remains voluntary until further notice.
• External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2032.

A summary of these changes is set out below (with extensions highlighted):