Singapore’s consultation on its proposed Sustainability Disclosure Standards closes on Sunday, October 25, 2026. The proposals address how companies would prepare climate disclosures, apply reporting reliefs, and state compliance.
Launched on July 27, 2026, by the Accounting and Corporate Regulatory Authority’s (ACRA) Interim Sustainability Standards Committee, the consultation proposes Singapore standards based on the ISSB framework, with adjustments for Singapore’s reporting context.
Interested stakeholders can access the submission link through ACRA’s consultation announcement.
What Are the Proposed Standards?
The proposed Singapore Sustainability Disclosure Standards comprise:
- SFRS S1 — General Requirements for Disclosure of Sustainability-related Financial Information, based on IFRS S1.
- SFRS S2 — Climate-related Disclosures, based on IFRS S2.
Under Singapore’s climate-first approach, SFRS S1 would be voluntary. Climate-relevant requirements from SFRS S1 would be incorporated into Appendix D of SFRS S2, allowing companies subject to mandatory climate reporting to work from a standalone standard.
Draft SFRS S2 also incorporates the amendments to IFRS S2 issued in December 2025.
What Would Change for Reporting Teams?
The consultation sets out four key proposed adjustments to the ISSB Standards.
These adjustments remain proposals under consultation.
Reporting Timing and Transition Reliefs
Not introducing the first-year timing relief would align climate-related disclosures with the publication of financial statements.
The climate-first relief would be unnecessary because broader sustainability reporting under SFRS S1 would already be voluntary.
The proposed ongoing Scope 3 relief would accommodate Singapore’s phased roadmap. Scope 3 reporting is mandatory for STI constituents from FY2026, while it remains voluntary for other listed and large non-listed companies.
Which Reporting Timelines Matter?
The consultation paper distinguishes the expected introduction of Singapore SDS from the existing phased climate-reporting roadmap.
In the table below, FY refers to financial years beginning on or after January 1 of the stated year.
| Requirement | STI constituents | Other listed companies ≥S$1 billion market capitalization | Other listed companies <S$1 billion market capitalization | Large non-listed companies |
|---|---|---|---|---|
| Scope 1 and 2 emissions | FY2025 | FY2025 | FY2025 | FY2030 |
| Other ISSB-based climate disclosures | FY2025 | FY2028 | FY2030 | FY2030 |
| Scope 3 emissions | FY2026 | Voluntary | Voluntary | Voluntary |
| External limited assurance over Scope 1 and 2 emissions | FY2029 | FY2029 | FY2029 | FY2032 |
“Other ISSB-based climate disclosures” include information about governance, strategy, risk management, metrics, and targets beyond emissions disclosures.
Large non-listed companies are Singapore-incorporated companies limited by shares that are not listed on the Singapore Exchange, with annual revenue of at least S$1 billion and total assets of at least S$500 million.
The paper specifies June 30, 2025 reference dates for the STI and market-capitalization classifications, with additional provisions for later listings. The relevant obligations continue even if a company subsequently leaves the STI or falls below the market-capitalization threshold.
When Would the Singapore Standards Apply?
The draft standards have no fixed effective date.
Singapore SDS application is expected from FY2028 for listed companies and FY2030 for large non-listed companies, subject to legislation and final issuance.
Existing SGX reporting obligations continue in the meantime, including Scope 1 and 2 emissions reporting for all listed companies from FY2025.
What Should Companies Review Now?
For sustainability, finance, and reporting teams, the proposals provide an opportunity to assess how Singapore’s local requirements would fit their reporting processes.
Teams should consider:
- Applicable requirements: Identify the company’s reporting category, relevant financial year, and mandatory disclosures.
- Reporting schedules: Coordinate climate data collection, review, and approval with financial reporting.
- Compliance statements: Document the requirements and reliefs supporting the proposed SFRS S2 compliance statement.
- Industry information: Assess how SASB materials can support the identification of relevant risks, opportunities, and metrics.
- Supporting evidence: Maintain records of calculations, assumptions, reporting judgments, and approvals.
These are practical preparation considerations rather than additional requirements introduced by the consultation.
How Can Stakeholders Respond?
The consultation invites views on:
- The proposed two-standards structure and SFRS S2 Appendix D.
- Amendments to transition reliefs.
- The proposed SFRS S2 compliance statement.
- Voluntary reference to SASB materials.
- Other adjustments needed for Singapore’s context.
- Implementation challenges and areas requiring further guidance.
Views are particularly welcome from listed and non-listed companies, investors, assurance providers, and professional bodies. Respondents are encouraged to explain their views and provide supporting reasons.
Submit feedback by October 25, 2026, using the FormSG link in ACRA’s announcement.
Following the consultation, the Interim SSC will consider responses before finalizing the standards. The formal Sustainability Standards Committee would issue the final standards after the necessary legislation is passed.
How EcoActive Supports Singapore Climate Reporting
As Singapore develops its local disclosure standards, reporting teams need to manage existing obligations alongside preparation for future requirements.
EcoActive’s Singapore climate reporting software helps listed and large non-listed companies connect emissions, climate risks, scenario analysis, energy data, value chain information, metrics, targets, and disclosures within one governed environment.
Teams can maintain underlying activity data, calculation methodologies, supporting evidence, reviews, approvals, and changes throughout the reporting process. This supports preparation for external assurance and reuse of approved information across reporting cycles.
EcoActive combines an AI-native reporting process with Agentic AI to support consistency, reporting coordination, and repeatable activities, while decisions and final approvals remain under human control.
Explore EcoActive for Singapore Climate Reporting to learn how teams can build a connected, traceable reporting process.
