Singapore Sustainability Disclosure Standards Open For Consultation

Singapore has opened consultation on draft Singapore sustainability disclosure standards that will shape how companies report climate risks, opportunities and performance. Published by the Accounting and Corporate Regulatory Authority on 27 July 2026, the proposals affect listed and large non-listed companies, their overseas parents, suppliers, investors and assurance providers. Feedback closes on 25 October 2026.

SFRS S2 Would Carry The Mandatory Climate Requirements

The Singapore sustainability disclosure standards comprise draft SFRS S1, covering general sustainability-related financial information, and draft SFRS S2 for climate-related disclosures. The Interim Sustainability Standards Committee proposes making SFRS S2 mandatory for businesses within Singapore's existing reporting roadmap, while SFRS S1 would remain voluntary.

That distinction matters operationally. Climate teams may be able to build on IFRS S2 processes already used elsewhere in a group, but local adjustments include transition reliefs and a proposed statement of compliance. A Singapore subsidiary cannot assume that a global report, data model or assurance file will automatically satisfy every local requirement.

Factory And Supplier Data Will Determine Reporting Quality

The draft brings climate reporting closer to everyday manufacturing decisions. Energy consumed by factories, refrigerants, purchased materials, logistics and supplier emissions can all feed the disclosures. Finance teams will need evidence that connects those figures with governance, risk management and financial planning, rather than a separate sustainability narrative assembled at year end.

ACRA says the standards are intended to give industry clarity while capability develops. The agency also launched a Sustainability Assurance Body of Knowledge, signalling that controls, evidence and professional judgement will receive as much attention as the published numbers.

How Companies Can Respond By October

Businesses should compare the draft Singapore sustainability disclosure standards with group ISSB policies, assign owners for climate metrics, test supplier-data gaps and document local judgements. Trade bodies and assurance providers can add value by submitting examples where wording, reliefs or compliance statements may create avoidable cost or ambiguity.