Climate reporting consultation paper

-
🌳SGX Group and ACRA - Accounting and Corporate Regulatory Authority have launched a public consultation that will advance climate reporting among Singapore companies. 

💡In fact, did you know that all listed companies already needed to report their environmental, social and governance (ESG) practices from the financial year ending Dec 31, 2017 onwards? 

🌳The Sustainability Reporting Advisory Committee (SRAC) has now recommended that all listed companies carry out climate reporting from FY2025. The SRAC also recommended that #climaterelated #disclosures be reported in alignment with the new standards of the International Sustainability Standards Board (ISSB). 

🌳What I think is interesting is that this consultation also proposes for climate reporting by non-listed companies with annual revenue of at least S$1 billion.

🙋‍♀️Given the urgency to act for climate change now, I wonder if this should be a lower threshold as there aren’t many companies in Singapore with this high level of revenue. If I’m not wrong, there’s only about 800+ listco on SGX hence, I was wondering if this revenue threshold should be lowered so as to include more companies? And perhaps they can report to a lesser extent if their size is smaller (just like how small companies can report simplified XBRL to ACRA today) ? 

What do you think? 

The consultation is open to public now. Link.

#ACRA #SRAC #ISSB #Sustainability #ESG #climate


Comments

Post a Comment

Popular posts from this blog

Good Morning

-
Image
“Good morning!”  “Good morning!”  “Good morning!”  “Good morning!”  “Good morning!”  This bus driver greeted everyone who boarded the bus yesterday. I greeted back as it was quite unusual and I wanted to reciprocate. Interestingly 90% of the people didn’t. Perhaps they were not used to it or they couldn’t respond fast enough as it wasn’t usual. Despite the low response rate, he didn’t stop. He continued to greet everyone who boarded. There were so many people and so many didn’t respond. But he was so persistent. I wonder what’s his motivation? Whilst this was a fleeting incident, it got me thinking that this type of grit and spirit is pretty rare. And it’s this kind of persistence we should aspire to have in our lives.  Happy Sunday everyone. Photo: By Me
Read more

Barbie

-
Image
My father gave me remote control cars and other “boy” toys when young. I never owned a Barbie doll till someone passed some preloved ones when I was around 12. Hence, when the movie came out, I wasn’t sure if I could identify with it or if I wanted to watch. But as the movie has topped billion dollars at the box office, and seeing the famous speech trending online, we went to check it out over the weekend, decked out in pink of course. And yes, there were some cringy moments, but for the most of it, there were some meaningful, poignant moments by not just Barbie but Ken as well. Without spoiling it for you if you haven’t watched it, I actually liked the exchange towards the end when Ken realised that he did not have to live for Barbie but he can be his own self and he is “Kenough”. Overall, I think it’s a light hearted watch not just for girls and women but anyone who’s figuring out themselves and learning that you are good enough. Spoiler speech (if you don’t intend to watch). #barbie
Read more

Judgement Day

-
Image
This year, I’m sitting on the judging panel for the  Monetary Authority of Singapore (MAS)  Global Fintech Hackcelerator in the  Singapore FinTech Festival  again. This year, the theme is AI in Finance and there were so many impressive entries. To do justice to the entries, I not only read the proposals, but try to “test” the prototypes as well (where available). Interestingly, as I was doing my review, there was a nearby table where some folks were having a chat and one person was gushing about how AI has really helped his business become a lot faster and more efficient. Looks like AI’s effects are already onto us, not just in finance but spreading across many other use cases as well. Have you or your company started your journey yet? Do share. #ai   #artificialintelligence   #mas   #fintech   #data   #automation   #jenelim
Read more