Governance Briefing — February 28, 2024
Singapore Exchange Regulation proposed mandatory ISSB-aligned climate disclosures, locking boards into tighter oversight of transition plans, assurance, and scenario governance.
Executive briefing: Singapore Exchange Regulation (SGX RegCo) opened a consultation on 28 February 2024 to mandate climate-related disclosures aligned with IFRS S1/S2 for listed issuers. Boards would need to evidence climate governance competencies, approve scenario analysis, and explain transition plan financing.
Key governance signals
- Board skill matrices. Proposed rules require issuers to describe director capabilities for climate oversight and continuous education plans.
- Scenario accountability. Directors must sign off on material scenario assumptions, physical risk horizons, and financed emissions coverage.
- Assurance roadmap. SGX RegCo signals phased limited assurance, pushing audit committees to embed climate data controls in their charters.
Action checklist
- Inventory board and management training on climate governance, highlighting gaps that require external advisors before ISSB-aligned statements go live.
- Align enterprise risk management and sustainability offices on scenario modeling cadence so directors receive pre-read packages with sensitivity analysis.
- Coordinate internal audit and external assurance providers to map evidence chains for greenhouse-gas data, financed emissions, and transition plan metrics.
Sources
- SGX RegCo consultation: Enhancements to climate-related disclosures
- SGX press statement on ISSB-aligned climate reporting
Zeph Tech supports SGX issuers with board education modules, scenario governance playbooks, and assurance readiness diagnostics.