Mandatory Sustainability Reporting
Stakeholders, including investors, regulators, customers, etc., are increasing focus on sustainability performance. How organizations translates their sustainability practices into positive social and environmental impacts. Stakeholders eye for improved operating efficiency, natural resource stewardship, community relations and more.
MANDATORY SUSTAINABILITY REPORTING REQUIREMENT
a. Bursa Malaysia Sustainability Reporting Requirement
Enhanced Sustainability Reporting Requirements
Timeline (Main Market)
Timeline (Ace Market)
- 9 common sustainability matters and indicators
Common sustainability indicators data and targets (at least three financial years)* - Statement of Assurance (internal or independent)
For financial year ending on or
after December 31, 2023
For financial year ending on
or after December 31, 2025
- 9 + 2 common sustainability matters and indicators (waste and emissions management)
- Transition plan disclosures (only for Ace Market Registrants)
For financial year ending on or
after December 31, 2024
For financial year ending on
or after December 31, 2026
- Prescribed sustainability information
N/A
For financial year ending on
or after December 31, 2024
TCFD-aligned climate-related disclosures
- Cover all recommended disclosures under the four
TCFD pillars i.e., Governance, Strategy, Risk
Management, and Metrics and Targets for the FYE on
or after 31 December 2025 onwards.
An incremental approach introduced for ‘specified elements’4, where PLCs may disclose their progress or status towards meeting the full disclosure of the specified elements for a period of two years.
For financial year ending on or
after December 31, 2025
N/A
- Full TCFD-aligned disclosures to be achieved for the FYE on or after 31 December 2027
For financial year ending on or
after December 31, 2027
N/A
b. Singapore Stock Exchange Sustainability Reporting Requirement
Scoped Entities
Timeline
ESG Funds (required by the Monetary Authority of Singapore
(MAS) per Circular No. CFC 02/2022)
Effectivity date 1 January 2023
All listed issuers to issue a complete sustainability report
For financial year ending on or after December 31, 2017
All listed issuers to include TCFD recommendations on their
sustainability reports:
- Climate reporting is mandatory for all issuers on a ‘comply or explain’ basis.
- Climate reporting is mandatory for issuers in (a) financial industry; (b) agriculture, food and forest products industry; and (c) energy industry. For other issuers, climate reporting on a ‘comply or explain’ basis.
- Climate reporting is mandatory for issuers in (a)
financial industry; (b) agriculture, food and forest
products industry; (c) energy industry; (d) materials and
buildings industry; and (e) transportation industry.
For other issuers, climate reporting on a ‘comply or explain’ basis.
- For financial year ending on or after December 31, 2022
- For financial year ending on or after December 31, 2023
- For financial year ending on or after December 31, 2024
WHAT WE DO
More and more stock exchanges recognised the important of Sustainability Reporting and require all the listed companies to disclose their ESG performance as non-financial performance reporting to satisfy the greater demand of transparency from stakeholders.
Our ESG experts at ShineWing TY TEOH can work with you on the following sustainability programs:
- Training and Education
Train your Board, Management, and Employees about the ins and outs of ESG reporting globally and within your region. We provide
education coverage on these key matters:- Introduction to ESG
- ESG and Sustainability Reporting
- Existing and Upcoming Regulations
- Corporate Governance
- The Role of the Board of Directors, Management, and Operating Departments
- Establishing and Communicating Policies
- Benefits and Remuneration Disclosures
- ESG Preparedness
- Dealing with GHG emissions
- Your Value Chain and their impact
- Employee and Customer Considerations
- Accounting and Reporting ESG-related assets and transactions
- Diversity, Equity, and Inclusion
- ESG Risk and Opportunities Assessment
Revisit existing process, procedures, and controls to identify risks and opportunities to help management address risks and seize opportunities aligned with emerging market trends particularly on environment, health & safety. - Policy advisory and creation
In compliance with sustainability regulations, identify needs on policies to establish and assist management in preparing and executing the relates policies and controls. - Stakeholder engagement
Identify, plan, develop and implement required engagement mechanisms with your stakeholders. - Sustainability reporting and disclosure
Prepare regulatory compliant sustainability reports that meets stakeholder needs and expectations. - Accounting and reporting ESG-related assets and transactions
Account and report ESG related transactions including Carbon Credits, Renewable Energy Credits, Carbon Offsets, Investments on ESG-linked funds/securities, etc. - Report assurance
Provide assurance on your sustainability transactions and reports.
