When the ISSB’s IFRS S1 and S2 standards were announced, many markets enthusiastically pledged to implement them. Chief among these was Singapore’s Accounting and Corporate Regulatory Authority and the Singapore Exchange. Now enthusiasm has cooled and regulators are taking a step back, reassessing ISSB implementation. Responsible Investor reports:
“Singapore was the first jurisdiction to announce when it will apply the International Sustainability Standards Board’s (ISSB) climate reporting standards. The exchange said last September that all listed companies would be expected to disclose Scope 1 and 2 greenhouse gas (GHG) emissions and other ISSB-based climate-related disclosures from 2025, and Scope 3 emissions from 2027. But the regulators have now announced delays of up to five years to the previously agreed timeline and have also made some reporting voluntary.”
However, Singapore’s pullback on ISSB doesn’t signal a complete abandonment of climate reporting. Listed companies will still need to report scope 1 and 2 emissions, and the exchange’s 30 largest companies must make ISSB disclosures in 2026. This delay follows the ongoing omnibus reforms in the EU, which are expected to significantly delay and scale back sustainability disclosures. Additionally, Canada announced a similar freeze on its plans to implement ISSB standards – indicating that North America and Europe’s pullback on sustainability may be spreading globally. We’ll see if Singapore remains an isolated case or if other jurisdictions follow suit.
Our members can learn more about climate disclosures here.
If you’re not already a member, sign up now and take advantage of our no-risk “100-Day Promise” – during the first 100 days as an activated member, you may cancel for any reason and receive a full refund. But it will probably pay for itself before then.
Members also save hours of research and reading time each week by using our filtered and curated library of ESG/sustainability resources covering over 100 sustainability subject areas – updated daily with practical and credible information compiled without the use of AI.
Are you a client of one of our Partners – SourceIntelligence, TRC, Kumi, Ecolumix, Elm Consulting Group International or Impakt IQ? Contact them for exclusive pricing packages for PracticalESG.
Practical Guidance for Companies, Curated for Clarity.
