A long way to go in sustainability reporting [News]

TOO few listed companies here are reporting their environmental, social and governance risks, the Singapore Exchange (SGX) signalled yesterday at the launch of its sustainability reporting guide.

SGX – which has not ruled out mandatory reporting of such risks later – urged companies to follow the guidelines that can boost Singapore’s global standing in this area and draw more investments for their individual businesses.

‘Let’s be honest here. There is currently limited mainstream sustainability reporting beyond corporate governance here in Singapore,’ said SGX chief executive Magnus Bocker.

‘We have the ambition to be a leading global exchange and we will never succeed to be that unless we are leaders when it comes to reporting.’ Read more

SGX issues guide to sustainable reporting [News]

The Singapore Exchange (SGX) has released a how-to guide so firms can prepare ‘sustainability reports’ that show how they are reducing carbon emissions or improving labour relations.

The SGX believes an increased emphasis on a firm’s impact on the environment and society will help the community and give companies a leg-up for long-term growth. It wants all listed companies to release such reports but is not making it compulsory.

Some companies, including Olam International, Wilmar International, City Developments, Hyflux, Sembcorp Industries and Keppel Corp, already produce such reports.

The SGX is encouraging firms in industries that significantly impact the environment and local communities – such as agriculture, forestry, mining, energy and shipping – to issue the reports. Read more

Singapore firms lag in green reporting [News]

Corporate social responsibility (CSR) may not be a foreign concept to Singapore companies but it appears that articulating CSR policies and activities still isn’t common practice here.

Singapore firms are seen lagging their regional peers in sustainability reporting. But accounting professionals and CSR lobbyists believe that this gap should narrow as efforts to spur ‘green reporting’ gather speed.

Thomas Thomas, executive director of Singapore Compact, a multi-stakeholder platform that promotes CSR, notes that with more stock exchanges globally requiring listed companies to issue sustainability reports, there has been an increase in sustainability reporting among companies here, particularly those with overseas businesses. Read more

Updates and Insights from the CSR Asia Forum on Sustainability Disclosure 2011

The CSR Asia Forum on Sustainability Disclosure 2011 was held in Singapore on 23 March, and organised by CSR Asia to update delegates on sustainability reporting, disclosure and communications, both locally and globally.

Here are some updates and insights from the Forum:

Singapore Companies Lagging Behind on Sustainability Reporting

According to CSR Asia, Singapore companies are lagging behind on sustainability reporting and could risk losing out this potential competitive edge to other Asian companies. Singapore is placed fourth out of five ASEAN countries (Singapore, Malaysia, Indonesia, Thailand and the Philippines) in terms of the number of sustainability reports produced by the country’s companies, and has only 21 companies producing 59 reports in the past eight years. Read more

Singapore lags ASEAN peers on sustainability reports [News]

Singapore companies are falling behind when it comes to sustainability reporting with only 59 such reports produced in the country’s history – a relatively small number compared with its ASEAN peers.

Experts at CSR Asia say that this highlights the risk that local business are running of losing out to other Asian countries which are already marching ahead with significantly higher levels of reporting on environmental, social, and governmental issues.

Last year the Singapore Exchange issued a “Policy Statement on Sustainability Reporting” and a proposed guide for its listed companies to use when formulating such reports.

However, experts say that if companies don’t respond, sustainability reporting could stop being a voluntary act and become a regulatory obligation. And it may happen in as early as in three years. Read more

Sustainability Reporting Workshop

Speaker: Ms Carrie Johnson, Senior Lecturer (Adjunct) for Masters in Environmental Management at NUS, and Director of PAIA Consulting

Venue: Level 10, Room 1002, NTUC Centre, 1 Marina Boulevard

The Singapore Environment Institute (SEI), ACCA Singapore and Singapore Compact for CSR are jointly organising the Sustainability Reporting Workshop. This workshop will explain what is sustainability reporting, its relevance to today’s business environment, how it relates to CSR, and how to produce a sustainability report. For details and registration, visit the SEI website.

Sustainability Reporting Workshop

Speaker: Ms Carrie Johnson, Director of PAIA Consulting and Senior Lecturer (Adjunct) at NUS

Venue: Level 22, SBF Seminar Room 1, 10 Hoe Chiang Road, Keppel Towers, Singapore 089315

The Singapore Environment Institute (SEI), ACCA Singapore and Singapore Compact for CSR are jointly organising the Sustainability Reporting Workshop to help companies and organisations understand the relevance of sustainability reporting and the steps needed to produce a sustainability report. The workshop is based on the Global Reporting Initiatives (GRI) Reporting Guidelines. For details of the workshop and fees, visit the SEI website.

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