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Only 19 firms use internationally recognised sustainability reporting frameworks.

A lot of Singaporean stakeholders are unaware of their company’s sustainability practices, despite efforts by the SGX to increase transparency in listed firms.

A survey released today by the Singapore Compact for Corporate Social Responsibility (Singapore Compact) and the National University of Singapore (NUS) Business School revealed that only 160 out of 537 mainboard-listed firms have communicated sustainability information related to the governance, economic, environmental and social aspects of their businesses.

Of the 160 companies that had communicated sustainability, only 19 of the companies used internationally recognised sustainability reporting frameworks, which guides them to provide more comprehensive and in-depth information about their businesses to their relevant stakeholders.

Listed companies communicating on sustainability are still a minority, making only 29.7% of all mainboard-listed companies. According to Executive Director of Singapore Compact Christopher Ang, “More companies need to communicate and report on their sustainability activities to gain a deeper understanding of their exposure to social and environmental risks, and demonstrate corporate transparency and accountability. Such insights can also help companies find growth opportunities and generates trust with their stakeholders, while providing drivers for companies to formulate long-term strategic visions and resilient business models.”


The gLAWcal Team

POREEN project

Thursday, 31 July 2014

(Source: Singapore Business Review)