ACRA Launches Public Consultation on Sustainability Disclosure Standards

Singapore, 27 July 2026 – The Accounting and Corporate Regulatory Authority (ACRA)’s Interim Sustainability Standards Committee (Interim SSC) launched a public consultation on the draft Singapore Sustainability Disclosure Standards today. These standards set out the information companies would be required to disclose on how they manage climate-related risks and opportunities. The public consultation will take place from 27 July to 25 October 2026. We welcome comments from the public, which the Interim SSC will take into consideration in finalising the disclosure standards. 

2         In 2022, ACRA and the Singapore Exchange Regulation (SGX RegCo) established a Sustainability Reporting Advisory Committee to develop a roadmap for mandatory climate reporting and assurance, with requirements to be implemented in phases. The implementation timelines were adjusted in August 2025 to give companies more time to build capabilities for climate reporting¹. Given the urgency to combat climate change, mandatory reporting is scoped to climate disclosures for a start, with broader sustainability reporting remaining voluntary. 

3         In May 2025, ACRA established an Interim SSC² to develop Singapore's sustainability disclosure and assurance standards in line with international standards. The Interim SSC has developed the draft disclosure standards and is now seeking public feedback.  

Key Proposals

4         The draft Singapore Sustainability Disclosure Standards are based on the International Sustainability Standards Board (ISSB) Standards³ and similarly comprise two standards:  

a.      Singapore Financial Reporting Standards (SFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information, which is based on International Financial Reporting Standards (IFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information; and 

b.      SFRS S2 Climate-related Disclosures, which is based on IFRS S2 Climate-related Disclosures. 

5         Adjustments were made in developing the Singapore Sustainability Disclosure Standards to suit the local context. In particular, the Interim SSC proposes that only SFRS S2 (which covers climate-related disclosures) will be mandatory, while SFRS S1 (which covers broader sustainability disclosures beyond climate) will be voluntary. Other adjustments include tailored transition reliefs and a requirement for a statement of compliance to align with Singapore’s implementation roadmap. ⁴

Launch of Sustainability Assurance Body of Knowledge 

6         As the need for credible sustainability information continues to grow, ACRA recognises the importance of building capability in sustainability assurance to strengthen confidence in climate-related disclosures. Alongside the public consultation, ACRA is launching the Sustainability Assurance Body of Knowledge (SA BOK) ↗ (opens in new tab), to support the development of sustainability assurance capabilities. The SA BOK outlines the key competencies required for sustainability assurance, serving as a guide for training providers to develop quality programmes aligned with key global standards. ACRA will work with the Skills and Workforce Development Agency (SWDA) and training providers to develop programmes aligned with the SA BOK.  

Other Existing Support Measures 

7         To help professionals and employers identify relevant training, ACRA and SWDA have curated courses aligned with the Sustainability Reporting Body of Knowledge (SR BOK) ↗ (opens in new tab) under the SkillsFuture Green Workplace Programme (SFGW). Launched in May 2025, the SR BOK outlines the key competencies required for sustainability reporting to guide training providers in developing quality programmes. Course fees are subsidised by up to 90%, and professionals can find these courses on the SFGW website ↗ (opens in new tab).

8         The Government has been providing companies with support through the Sustainability Reporting Grant ↗ (opens in new tab) to prepare for mandatory climate reporting requirements before their compliance timelines. The Sustainability Reporting Grant currently supports companies in preparing sustainability reports that incorporate the ISSB Standards for the first time. It will be reviewed in due course to consider the Singapore Sustainability Disclosure Standards after it is finalised. 

Call for Public and Industry Feedback 

9         Mrs Chia-Tern Huey Min, Chief Executive of ACRA, said, “Meeting the mandatory climate reporting and assurance requirements is a multi-year journey for preparers and assurance providers alike. The launch of the draft disclosure standards, which are aligned with the ISSB Standards but include adjustments to reflect Singapore’s climate-first approach, is an important milestone in this journey. This gives clarity and certainty on the reporting requirements so that the industry can move ahead with confidence. To support companies’ implementation, ACRA has launched the Sustainability Assurance Body of Knowledge, over and above the Sustainability Reporting Body of Knowledge published in May 2025, to guide preparers and assurance providers on the requirements, and will continue to take an educational approach as the industry builds up capabilities.” 

10      “Climate reporting is no longer just a compliance exercise – it is a strategic imperative”, said Ms Esther An, Co-Chairperson, Interim SSC. “The disclosure standards will give companies a clear and consistent framework to measure, manage and communicate their climate-related risks and opportunities. The Interim SSC aims to develop disclosure standards that are both internationally credible and practical for Singapore's context.” 

11      Mr Max Loh, Co-Chairperson, Interim SSC, said, “Developing the disclosure standards is a critical step in building a trusted and transparent reporting ecosystem in Singapore. The draft disclosure standards strike a balance between international alignment and practical relevance for businesses here in Singapore. I encourage all stakeholders – from companies to investors and professional bodies – to share their views so that the Interim SSC can develop disclosure standards that are fit for purpose.” 

12      The Interim SSC invites all stakeholders to provide feedback on the proposals. Views are particularly welcome from listed and non-listed companies, investors, assurance providers, and professional bodies. Diverse perspectives from across the business and professional community are essential to ensure the disclosure standards are both robust and practical. 

13      The public can access the consultation paper on the REACH consultation portal ↗ (opens in new tab) and ACRA website ↗ (opens in new tab). Interested parties may submit their feedback through FormSG ↗ (opens in new tab) by 25 October 2026. 

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¹ See Annex A for implementation timelines. 
² See Annex B for composition.
³ The ISSB Standards refer to IFRS Sustainability Disclosure Standards, which comprise IFRS S1 and IFRS S2.
⁴ See Annex C for details of the adjustments. 

Annex A: Summary of Climate Reporting and Assurance Requirements for Listed and Large Non-listed Companies

Annex B: Members of the Interim Sustainability Standards Committee

Annex C: Adjustments Made in Developing the draft Singapore Sustainability Disclosure Standards