Key Discussion Points:
Upcoming Changes in Sustainability Reporting
The Accounting and Corporate Regulatory Authority (ACRA) and SGX RegCo have adopted key Sustainability Reporting Advisory Committee (SRAC) recommendations to advance climate reporting standards beginning FY 2025. This seminar explored the detailed phases of this implementation, including mandatory climate reporting requirements and the gradual integration of broader sustainability metrics.
- Mandatory Climate Reporting: Starting FY 2025, requirements to report on Scope 1 and Scope 2 GHG emissions will be in effect, with a planned extension to Scope 3 emissions for larger issuers from FY 2026.
- Comprehensive Reporting by FY 2026: Discuss how companies can prepare for the total inclusion of sustainability reports with annual reports, emphasising the transition to externally assured reports.
- Differences Between TCFD and IFRS S2: A comparison of the TCFD’s flexible guidelines and the IFRS S2’s mandatory detailed climate-related disclosures.
Addressing Greenwashing
- Understanding Greenwashing: Defining greenwashing and exploring its implications in corporate reporting.
- Regulatory Approaches: Examining how Singapore and other jurisdictions such as the US, UK, EU, and Australia, are tackling greenwashing through regulatory measures and other legal action
Climate-Related Litigation Trends
- Global Litigation Patterns: Insights into worldwide trends in climate-related litigation.
- Types of Litigation: Exploring the various forms of climate-related litigation including strategic litigation, stakeholder activism, and ESG-related contractual disputes.
- Directors’ Duties: Understanding the evolving responsibilities of directors within the ESG framework.
