Three in four S-REITs readying for sustainability assurance ahead of 2029 mandate: PwC

About 75% use either ESG-specific or generic systems for data collection and reporting.

Three in four Singapore REITs (S-REITs) have conducted or are preparing for a sustainability assurance readiness assessment ahead of mandatory external limited assurance for Scope 1 and 2 emissions from FY2029.

About 75% of surveyed S-REITs use either ESG-specific or generic systems for sustainability data collection and reporting, according to a PwC Singapore report.

Half use dedicated ESG systems, whilst another quarter use generic systems.

Under Singapore’s climate reporting requirements, all listed companies are required to report Scope 1 and Scope 2 greenhouse gas emissions from FY2025.

PwC said 90% of S-REITs are able to complete their sustainability data collection and reporting within four months of their financial year-end.

However, only 15% have obtained external assurance over sustainability-related information, whilst another 25% plan to do so.

Data collection also remains a challenge, particularly where information on energy, water and waste is held by tenants, property managers and other service providers, the report added.

The study covered 20 S-REITs representing 48% of the sector’s $201b in assets under management as of March 2026.

Separately, the Accounting and Corporate Regulatory Authority in July opened a consultation on draft Singapore Sustainability Disclosure Standards, which runs until 25 October.

The authority also launched a Sustainability Assurance Body of Knowledge to support training for professionals involved in verifying climate disclosures.

Sustainability-linked financing has meanwhile remained active amongst listed REITs.

Elite UK REIT recently secured an $86.5m sustainability-linked Shariah-compliant facility from Maybank and RHB, which will partly finance property acquisitions, refinance existing loans, and support working capital.

The financing also allows for adjustments to margins if the REIT improves the energy performance certificate ratings of its properties.

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