Sustainability Reporting Standards (SFRS-S1 & SFRS-S2)
Sustainability Reporting Standards (SFRS-S1 & SFRS-S2): mandatory issb-aligned sustainability and climate disclosure for singapore-listed and large companies, with limited assurance.
What it is
SFRS-S1 and SFRS-S2 are Singapore's sustainability reporting standards, administered by ACRA and SGX and closely aligned with the ISSB's IFRS S1 and S2 standards.
SFRS-S1 sets out general sustainability-related disclosure requirements, while SFRS-S2 focuses on climate-related disclosures, together requiring governance, strategy, risk management, metrics, and greenhouse gas emissions reporting with assurance.
Who must comply
All SGX-listed companies must comply, as must large non-listed entities meeting any two of: total assets over S$500 million, revenue over S$700 million, or more than 1,000 employees.
What you must disclose
SFRS-S1 requires a double materiality assessment, governance structures, strategy documentation, and ESG metrics. SFRS-S2 requires reporting of Scope 1, Scope 2, and material Scope 3 GHG emissions, climate scenario analysis, and mandatory limited assurance.
Timeline
Introduced on September 23, 2024 and effective from January 1, 2025, administered by the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange (SGX). FY 2025 is the first reporting period.
From 2026 onward, annual sustainability reports are due alongside financial filings.