Enterprise Singapore (EnterpriseSG), in collaboration with the Singapore Economic Development Board (EDB), has introduced a grant and program to enhance sustainability reporting capabilities for companies in Singapore. These initiatives aim to support businesses in aligning with Environmental, Social, and Governance (ESG) requirements and advancing their carbon neutral strategies. 

The Sustainability Reporting Grant (SRG) assists Singapore-incorporated companies impacted by mandatory climate disclosures in preparing International Sustainability Standards Board (ISSB)-aligned reports. Available to firms listed on the Singapore Exchange and non-listed companies with annual revenues of at least S$100 million, the grant covers 30% of qualifying costs, capped at S$150,000. This includes consultancy services, manpower training, and tools needed for ISSB-compliant reporting. By easing the financial burden, the SRG encourages businesses to adopt standardized ESG reporting practices, ensuring transparency and comparability. 

Targeting small and medium-sized enterprises (SMEs) with revenues below S$100 million, the SME Sustainability Reporting Programme offers advisory support for early adopters of sustainability reporting. EnterpriseSG will collaborate with service providers to assist SMEs in identifying material areas, collecting and quantifying emissions, and drafting reports in line with Global Reporting Initiative and Task Force on Climate-related Financial Disclosures frameworks. This initiative covers up to 70% of eligible costs from November 2024 to March 2026 and 50% until October 2027. 

These initiatives position Singapore companies to better meet ESG standards, reinforcing their carbon neutral strategies and competitiveness in a sustainability-focused global market. 

Sources:  

https://www.allenandgledhill.com/sg/publication/articles/29419/enterprise-launches-new-grant-and-programme-to-level-up-sustainability-reporting-capabilities-for-companies?agreed=cookiepolicy 

https://www.enterprisesg.gov.sg/-/media/esg/files/media-centre/media-releases/2024/october/mr04324_enterprise-singapore-launches-new-programme-and-grant-to-level-up-sustainability-reporting-capabilities-for-singapore-companies.pdf 

https://www.businesstimes.com.sg/companies-markets/enterprise-singapore-and-edb-launch-sustainability-reporting-grant-november 

https://www.straitstimes.com/business/new-grant-helping-companies-with-climate-reporting-to-launch-in-nov-2024