The Accounting and Corporate Regulatory Authority (ACRA)’s Interim Sustainability Standards Committee (Interim SSC) has recently initiated a public consultation on the draft Singapore Sustainability Disclosure Standards. These proposed standards are designed to provide a framework for companies to report on how they are managing climate-related risks and opportunities.
The consultation period is set to run from 27 July to 25 October 2026, during which feedback from stakeholders will be gathered and used to finalize the standards. This move comes as part of ongoing efforts to enhance Singapore’s climate reporting regime.
In 2022, ACRA and Singapore Exchange Regulation established a Sustainability Reporting Advisory Committee to develop a roadmap for mandatory climate reporting and assurance, which will be implemented in stages. In August 2025, the implementation timelines were revised to allow companies more time to enhance their climate reporting capabilities.
In May 2025, ACRA formed the Interim SSC with the aim of aligning Singapore’s sustainability disclosure and assurance standards with international best practices. The committee has now released draft disclosure standards and is seeking input from the public.
The draft Singapore Sustainability Disclosure Standards are based on the International Sustainability Standards Board (ISSB) framework and consist of two standards. The first standard, Singapore Financial Reporting Standards (SFRS) S1, focuses on general requirements for disclosing sustainability-related financial information, while the second standard, SFRS S2, specifically addresses climate-related disclosures.
Adjustments have been made to customize the Singapore Sustainability Disclosure Standards to local conditions. The Interim SSC is proposing that only SFRS S2 be mandatory, while SFRS S1 will remain voluntary.
In conjunction with the consultation process, ACRA is introducing the Sustainability Assurance Body of Knowledge (SA BOK) to support the development of sustainability assurance skills. ACRA will collaborate with the Skills and Workforce Development Agency and training providers to implement programs based on the SA BOK.
Furthermore, ACRA is providing support to companies through the Sustainability Reporting Grant, aimed at assisting businesses in preparing for mandatory climate reporting ahead of their compliance deadlines.
ACRA CEO Chia-Tern Huey Min emphasized the importance of meeting the mandatory climate reporting and assurance requirements, acknowledging that it is a multi-year journey for both preparers and assurance providers. This comprehensive approach to sustainability reporting reflects Singapore’s commitment to driving corporate transparency and accountability in the face of climate change challenges.
