Singapore companies should report ESG impacts in financial statements. Are they ready?
Sustainability risks have material effects on line items, and directors have a responsibility to disclose them
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UNDER Singapore’s Companies Act, directors have an overriding duty to ensure that a company’s financial statements give a “true and fair” view of its financial position and performance.
The Accounting and Corporate Regulatory Authority (Acra) has for a number of years highlighted how climate-related matters may have direct implications for financial reporting practice.
In its 2025 guidance, Acra reminded directors to remain vigilant and ensure that climate-related risks are properly assessed and incorporated into financial reporting, even as the extension of timelines for some climate-reporting requirements in Singapore offers some near-term relief.
