ACRA SGX Climate Reporting: What Singapore Businesses Must Know

Why ACRA SGX Climate Reporting Now Demands Your Attention

Singapore’s regulatory landscape shifted significantly when the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange (SGX) formalised mandatory climate-related disclosure requirements. For listed companies and large non-listed entities, this is no longer a voluntary sustainability exercise — it is a compliance obligation with real consequences for directors, boards, and operational teams alike.

The framework draws heavily from the International Sustainability Standards Board (ISSB) standards, specifically IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures). ACRA has integrated these into Singapore’s Financial Reporting Standards landscape, while SGX Regulation has embedded climate disclosure requirements into its Listing Rules. Together, they form the backbone of what practitioners now refer to as ACRA SGX climate reporting.

Understanding where your organisation sits within these requirements — and what you must do operationally to meet them — is essential. The obligations extend beyond the finance team. They touch workplace safety governance, supply chain risk, and the broader environmental risk management systems that companies already maintain under Singapore’s Workplace Safety and Health (WSH) framework.

The Regulatory Context: ACRA, SGX, and Singapore’s Climate Disclosure Roadmap

ACRA’s phased implementation approach means different entities face different timelines. SGX-listed companies in the Straits Times Index (STI) component were required to report climate-related information aligned with ISSB standards from financial years commencing on or after 1 January 2025. Broader SGX-listed companies follow in subsequent phases, with large non-listed companies incorporated in Singapore expected to come under mandatory scope from financial years beginning 1 January 2027.

The disclosures required under this framework cover four core pillars:

• Governance: Board and management oversight of climate-related risks and opportunities.
• Strategy: How climate risks and opportunities affect the organisation’s business model, strategy, and financial planning.
• Risk Management: Processes used to identify, assess, and manage climate-related risks, including integration with overall enterprise risk management.
• Metrics and Targets: Quantitative data including Scope 1, Scope 2, and (where applicable) Scope 3 greenhouse gas emissions, plus progress against stated climate targets.

For organisations already operating under Singapore’s WSH Act (Cap. 354A) and the WSH (Risk Management) Regulations, the risk management pillar will feel familiar. The structured approach to hazard identification, risk assessment, and control measures that underpins WSH compliance is directly transferable to climate risk identification processes. Companies that have invested in robust WSH risk management systems are better positioned to document and demonstrate climate risk governance.

The bizSAFE programme administered by the Workplace Safety and Health Council (WSHC) similarly cultivates a risk management culture that aligns with what ACRA and SGX now expect on the climate front. Organisations at bizSAFE Level 3 and above have already embedded risk management as a board-level responsibility — precisely the governance structure that climate reporting demands.

Practical Steps and a Compliance Checklist for ACRA SGX Climate Reporting

Preparing for mandatory climate disclosure is a structured process. The following checklist reflects what Singapore businesses should be working through in 2026, regardless of which reporting phase applies to them.

• Confirm your reporting obligation: Determine whether you are an STI-listed company, a broader SGX-listed entity, or a large non-listed company. Check the specific financial year commencement date that triggers your obligation under ACRA’s phased roadmap.
• Assign board-level governance: Designate a board committee or specific directors with oversight responsibility for climate-related risks. Document this in your governance disclosures.
• Conduct a climate risk and opportunity assessment: Identify physical risks (flooding, heat stress, supply chain disruption) and transition risks (carbon pricing, regulatory changes, technology shifts) relevant to your operations and value chain. Align this process with your existing WSH risk assessment methodology under the WSH (Risk Management) Regulations.
• Establish a GHG emissions inventory: Calculate Scope 1 (direct emissions) and Scope 2 (purchased energy) emissions as a minimum. Assess the materiality of Scope 3 emissions across your value chain. Use the GHG Protocol Corporate Standard as the recognised methodology.
• Integrate climate into enterprise risk management: Climate risks should not sit in a standalone ESG silo. Embed them within your enterprise risk register and link them to financial planning scenarios.
• Set measurable targets: Define climate-related targets, including net-zero commitments where relevant, and establish baseline years and interim milestones.
• Prepare for external assurance: ACRA’s roadmap includes requirements for limited assurance over GHG disclosures, progressing to reasonable assurance over time. Engage an accredited assurance provider early.
• Train relevant personnel: Ensure that finance, operations, HSE, and procurement teams understand their roles in data collection and reporting. ISO 14001 (Environmental Management Systems) and ISO 50001 (Energy Management) frameworks can support this capacity building.

Common Questions About ACRA SGX Climate Reporting

Q: We are a non-listed SME with operations in Singapore. Does ACRA SGX climate reporting apply to us now?

Not immediately as a direct mandatory obligation, but the indirect pressure is real. If you supply to SGX-listed companies, those entities must account for Scope 3 emissions — which means your emissions data may be requested by your customers as part of their own compliance. Additionally, ACRA’s roadmap explicitly includes large non-listed companies from financial years beginning 1 January 2027. Preparing your data infrastructure and risk management processes now avoids a costly last-minute scramble. The MOM-supported bizSAFE framework and WSH risk management systems already in place provide a strong foundation to build on.

Q: How does climate risk management differ from the risk assessments we already do under the WSH (Risk Management) Regulations?

The methodology is structurally similar — identify hazards, assess likelihood and severity, implement controls, review regularly — but the scope and time horizon differ. WSH risk assessments focus on immediate workplace hazards to workers. Climate risk assessments must consider longer-term physical and transition risks across your entire business model and value chain, including financial materiality. That said, the governance discipline and documentation rigour that WSH compliance demands translates directly. Companies with mature WSH systems often find the climate risk assessment process more manageable because the organisational habits are already in place.

Take the Next Step With Sage Shield Safety Consultants

Navigating ACRA SGX climate reporting requirements alongside your existing WSH and bizSAFE obligations is complex, but it does not have to be overwhelming. At Sage Shield Safety Consultants, we help Singapore businesses build integrated risk management frameworks that satisfy both workplace safety regulators and the growing demands of climate disclosure. Our consultants understand the WSH Act, the WSH (Risk Management) Regulations, WSHC guidelines, and the ISSB-aligned standards that now underpin ACRA and SGX requirements. Whether you need a gap assessment, a climate risk identification workshop, or support preparing your first IFRS S2-aligned disclosure, we are ready to assist. Book a free consultation with our team today and find out exactly where your organisation stands and what practical steps will move you toward confident, compliant climate reporting.