The Singapore Exchange (SGX) has introduced a Sustainability Reporting Guide for listed companies – just days after the Monetary Authority announced a review of corporate governance arrangements.
The development follows a public consultation in August 2010 that the exchange said attracted widespread attention and positive feedback “in support of disclosure and accountability for operating and developing businesses in a sustainable manner”.
“Global investors and other important stakeholders have called for companies to espouse sustainability and report what they do,” the exchange said today. “SGX, as a responsible exchange with global reach, has responded with a guide for listed companies.”
The guide includes a policy statement which sets outthe general principles, and there is a Q&A to show firms how to extend their reporting beyond financial governance to sustainability.
“A more holistic reporting will be achieved, with companies reporting their financials as well as the environmental and social risks, and strengths as relevant.”
“The Sustainability Reporting Guide is the first step for listed companies who are new to sustainability reporting,” said the exchange’s chief executive Magnus Böcker.
Earlier this month, the regulator, the Monetary Authority of Singapore, proposed guidelines on shareholder engagement with companies for the first time as part of a wider review of its corporate governance code.