Singapore has achieved remarkable progress in sustainability reporting, positioning itself as a global leader. According to KPMG’s 2024 Survey of Sustainability Reporting, Singapore is one of only seven nations where all top 100 companies publish sustainability reports, surpassing the global average of 79%. These advancements underscore Singapore’s commitment to ESG integration and carbon neutral strategies. 

Singapore’s top 100 companies outperformed global benchmarks in six of twelve key sustainability indicators. Notable progress includes: Climate Risk Recognition: 76% of companies identify climate change as a financial risk, a substantial rise from 49% in 2022, far exceeding the global average of 55%. Governance Leadership: Companies with board-level responsibility for sustainability rose to 55%, compared to 35% in 2022. ESG Integration: 84% of companies now incorporate ESG metrics into annual reports, significantly above the global average of 62%. 

Despite these successes, some gaps remain. Only 37% of companies seek third-party assurance for sustainability information, below the global average of 54%. Additionally, the number of companies linking sustainability to executive remuneration has dropped to 38% from 67% in 2022, though still higher than the global benchmark of 30%. 

With the upcoming adoption of International Sustainability Standards Board (ISSB) frameworks in 2025, Singapore is poised to strengthen its ESG practices further. Enhanced reporting on biodiversity, social risks, and governance issues offers additional opportunities for leadership. Government initiatives like Forward Singapore and corporate tools such as KPMG’s ESG Assurance Maturity Index are set to drive innovation, collaboration, and accountability. 

By leveraging its strong foundation, Singapore continues to embed sustainability at the core of its business strategies, reinforcing its carbon neutral goals and global leadership in corporate ESG practices. 

Sources :  

https://www.media-outreach.com/news/singapore/2024/11/28/345523/singapore-achieves-progress-in-sustainability-reporting-outperforming-global-benchmarks/ 

https://esgnews.com/singapores-top-100-companies-lead-global-sustainability-reporting-kpmg-survey/ 

https://kpmg.com/sg/en/home/media/press-releases/2022/10/singapore-top-100-companies-in-sustainability-reporting.html