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Singapore: Climate-related disclosures and the ESG landscape in Asia Pacific

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Rising investor expectations have spurred a global push for publicly listed companies (PLCs) to disclose comprehensive sustainability information. As a result, regulatory bodies worldwide are either mandating or strongly recommending the issuance of sustainability reports by PLCs, focusing on environmental, social, and governance (ESG) factors.

The integration of ESG disclosures with financial reporting enables investors to more accurately evaluate the financial outlook and management effectiveness of PLCs, a trend strongly supported by regulators.

This article, written in collaboration with Anthesis, takes a look at:

  • An explanation of the upcoming mandatory Singapore Climate-Related Disclosure (CRD) standards, which are based on the International Sustainability Standards Boards S1 and S2 standards
  • A comparison of the proposed CRD requirements with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations and the existing SGX Listing Rules on climate-related disclosures
  • The relevant entities that will be subject to the Singapore mandatory CRD requirements and the timeline for implementation
  • How to companies can prepare for the upcoming CRD requirements
  • An overview of the current and future state of the CRD landscape in Asia Pacific 

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Baker McKenzie is Here to Help

In this complex and evolving regulatory climate, businesses aided by experienced and trusted legal counsel will be well-positioned to navigate the growing challenges posed by ESG. At Baker McKenzie, we are well-positioned to advise on such matters, and we are committed to helping our clients develop optimal solutions amidst this developing regulatory landscape. Please contact our team members Celeste Ang, Min-tze Lean, Richard Allen or Pradeep Nair if you have any questions.

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Author

Celeste is a principal in our Dispute Resolution and Employment Practice Groups. Her practice encompasses corporate and commercial dispute resolution, investigations and compliance. She has significant experience acting for global clients in cross-border disputes and advising clients on ethics & compliance and regulatory issues in the context of risks analysis and mitigation and cross-border investigations. Celeste also has a particular focus in employment, particularly contentious employment work and employee investigations.
Celeste has been recognised as a 'Litigation Star' in the Labor and Employment space by Benchmark Litigation Asia Pacific 2023 and has been ranked Band 1 in Employment in Singapore by Chambers Asia-Pacific since 2019 to date. A client has commended Celeste for being "a fantastic partner who knows our industry well and has been our first contact for external legal work for many years." Celeste is also ranked as a Leading Individual in Labour and Employment in Singapore by Legal 500 Asia Pacific since 2019 and noted by clients as "an experienced litigator with a very sound knowledge of the law, who is also able to consider the client’s commercial concerns when providing advice" and in the foreign firms section as "great at connecting her entire network when the client needs additional service outside Singapore."

Author

Min-tze Lean is a principal in the Mergers & Acquisitions Practice Group at Baker McKenzie Wong & Leow. He has worked on a number of high-profile corporate headline transactions in Asia, some of which won the "Southeast Asia Deal of the Year" and "Singapore M&A Deal of the Year" awards at the Asian Legal Business Awards. Sources highlight his responsiveness, commerciality and the pragmatic advice he offers.
Min-tze has been recognised by Chambers Asia Pacific for his technical legal knowledge and principled approach to structuring solutions to complex legal issues, and his "solution-oriented approach and ability to interface well with regulators". A client commended: "What I like is his expertise. He knows the regulations inside out and what is the market standard and practice". He has also been praised by clients for having "strong grounding in M&A regulations and tactics", Legal 500 Asia Pacific.
Min-tze is ranked in Chambers Global and Chambers Asia Pacific as a leading lawyer in Singapore for Corporate/M&A: Domestic.

Author

Richard is a local principal in Baker McKenzie’s Dispute Resolution and International Arbitration Practice Groups. Having trained and practised in the London office of Baker McKenzie for eight years, Richard moved to the Firm's Singapore office in 2016. Richard is a member of Baker McKenzie's Energy, Mining & Infrastructure and Industrials, Manufacturing & Transportation Global Industry Groups.

Author

Pradeep is a Local Principal in the Dispute Resolution Practice Group in Singapore. He advises and represents clients ranging from global corporations to tech start ups and individuals across all aspects of dispute resolution, including pre-litigation strategic advice, mediation, Singapore Court litigation and international arbitration. Pradeep also regularly advises and assists clients on a wide range of contentious and non-contentious employment law, investigations and compliance matters.
In The Legal 500 Asia Pacific rankings 2024, Pradeep was recognised as a "key lawyer" in Baker McKenzie Wong & Leow's Dispute Resolution, International Arbitration and Employment teams, with clients commending him for being “very commercially minded” and a “superb lawyer” (The Legal 500, 2024).
Pradeep graduated from Singapore Management University's double degree programme with degrees in Economics (BSc (Econ)) and Law (LL.B.), and was placed on the Dean's List for both fields of study.

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