ESG Reporting Frameworks in Singapore: SGX, GRI, ISSB & TCFD

What are ESG reporting frameworks?

ESG reporting frameworks are structured guidelines that help companies disclose their environmental, social, and governance performance. They show businesses what to report, how to organise information, and how to present ESG data in a way that stakeholders can understand.

A good ESG report may include climate risks, greenhouse gas emissions, energy use, water consumption, waste management, workplace safety, employee welfare, board oversight, business ethics, supply chain ESG practices & sustainability targets.

Different frameworks serve different purposes. Some focus on financial risks. Some focus on the business impact on the environment and society. Some are required by regulators, while others are used voluntarily to improve transparency and trust.

Why ESG reporting frameworks matter in Singapore

Singapore is moving toward stronger sustainability and climate reporting. Listed companies and large businesses are expected to provide clearer ESG information, especially on climate-related risks as well as greenhouse gas emissions.

For companies, ESG reporting frameworks help turn scattered sustainability data into a proper reporting structure. Without a framework, a report can easily become vague, incomplete, or too promotional. With the right framework, the report becomes more useful for investors, regulators, customers, lenders, and business partners.

ESG reporting also supports better internal decisions. When a company tracks emissions, energy use, water use, staff safety, governance practices, and supplier risks, it can identify weak points and improve performance over time.

ESG reporting requirements in Singapore

• Finding important ESG factors that have an effect on the business
• Policies and management strategies for sustainability
• Goals and performance indicators
• The board is in charge of sustainability issues

Main ESG reporting frameworks used in Singapore

Singapore businesses commonly work with several ESG reporting frameworks. The most important ones include SGX sustainability reporting requirements, GRI Standards, ISSB Standards & TCFD recommendations.

Each framework has a different role. A listed company may need to follow SGX rules. A company preparing a global sustainability report may use GRI. A business reporting climate-related financial risk may follow ISSB or TCFD-style disclosure. In many cases, companies use more than one framework together.

SGX sustainability reporting framework

SGX sustainability reporting requirements apply to companies listed on the Singapore Exchange. The purpose is to help listed issuers disclose material ESG factors and explain how sustainability issues affect their business.

A typical SGX sustainability report should include material ESG factors, policies, practices, performance data, targets, board statement, and the reporting framework used. Climate-related disclosure has also become more important under Singapore’s reporting direction.

SGX provides sustainability reporting guidance and resources to help listed companies prepare their reports.

What SGX reporting usually covers

For listed companies, the report should not be treated as a simple marketing document. It should show how ESG issues connect with the company’s strategy, risk management, and long-term business performance. SGX sustainability reporting usually includes:

• Material ESG factors
• Climate-related risks and opportunities
• Greenhouse gas emissions
• Energy and resource use
• Social and workforce issues
• Governance practices
• Board oversight
• Performance targets
• Reporting methodology

GRI standards for ESG reporting

GRI, or Global Reporting Initiative, is one of the most widely used sustainability reporting frameworks in the world. It focuses on how an organisation affects the circular economy, environment, and people.

The GRI Standards help companies report their impacts comparably & credibly. GRI states that its standards can be used by organisations of different sizes and types, including public and private organisations.

When should a Singapore business use GRI?

GRI is useful when a company wants to explain its broader sustainability impact. It is especially helpful for businesses that need to communicate with customers, communities, employees, regulators, suppliers & civil society groups. A Singapore business may use GRI when it wants to report on:

• Environmental impact
• Labour practices
• Human rights
• Occupational health and safety
• Diversity and inclusion
• Waste and resource use
• Community impact
• Anti-corruption and governance
• Supplier sustainability

GRI is often suitable for companies that want a full sustainability report, not only a climate risk disclosure.

ISSB standards: IFRS S1 and IFRS S2

ISSB stands for International Sustainability Standards Board. Its standards are becoming important in Singapore because Singapore’s climate reporting direction is moving toward ISSB-aligned disclosure. The two key ISSB standards are:

• IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information
• IFRS S2: Climate-related Disclosures

IFRS explains that IFRS S1 and IFRS S2 set out how companies prepare and report sustainability-related financial disclosures and climate-related disclosures.

Why ISSB matters for Singapore companies

ISSB focuses on sustainability-related risks and opportunities that may affect a company’s financial prospects. This makes it especially important for investors, lenders, listed companies, and businesses preparing for climate-related reporting obligations.

In simple terms, ISSB asks a business to explain how sustainability and climate issues may affect its value, performance, cash flow, resilience, and long-term strategy.

What ISSB reporting usually includes

ISSB is not something to ignore for Singapore companies. It is becoming part of the country’s future-facing reporting direction. ISSB-style reporting usually covers:

• Governance of sustainability and climate risks
• Business strategy and resilience
• Risk management process
• Metrics and targets
• Climate-related opportunities
• Scope 1, Scope 2, and, where required, Scope 3 emissions
• Financial effects of sustainability-related risks
• Transition planning and climate readiness

TCFD recommendations for climate disclosure

TCFD stands for Task Force on Climate-related Financial Disclosures. It is widely used for climate-risk reporting and has strongly influenced many newer climate disclosure rules, including ISSB-style reporting.

The TCFD recommendations are built around four areas: governance, strategy, risk management, and metrics and targets.

The four TCFD pillars

1. Governance: How the board and management oversee climate-related risks and opportunities.
2. Strategy: How climate risks as well as opportunities may affect the company’s business model, strategy, and financial planning.
3. Risk Management: How the company identifies, assesses, and manages climate-related risks.
4. Metrics and Targets: What data and goals the company uses to measure and manage climate performance.

Why TCFD is still useful

Even though ISSB is now gaining more attention, TCFD remains useful because many climate reporting structures are built around the same pillars. A company that already understands TCFD will find it easier to move toward ISSB-aligned climate disclosure.

SGX vs GRI vs ISSB vs TCFD: What is the difference?

A company does not always need to choose only one. Many businesses use a combination. A listed company in Singapore, for example, can adopt SGX requirements, GRI for broader sustainability impact, and ISSB or TCFD for climate-related financial disclosure.

Which ESG reporting framework should your business use?

The right ESG framework depends on your company type, industry, reporting obligation, stakeholder expectations, and sustainability maturity.

A listed company in Singapore should review SGX requirements first. A large company preparing for future climate disclosure should assess ISSB readiness. A business with international customers may need GRI reporting. A company exposed to climate risks, investor pressure, or supply chain requirements may benefit from TCFD or ISSB-aligned climate disclosure.

The practical question is not always, “Which framework is popular?” The better question is, “Which framework helps our business report the right information to the right audience?”

What should be included in an ESG report?

A strong ESG report should be clear, structured, and evidence-based. It should avoid vague claims and show real data where possible. Common ESG report sections include:

• Company sustainability approach
• Reporting scope and boundary
• Materiality assessment
• Stakeholder engagement
• Environmental performance
• Climate risks and opportunities
• GHG emissions data
• Energy, water, and waste data
• Social and employee performance
• Governance structure
• Business ethics and compliance
• ESG targets and progress
• Reporting framework and methodology

For Singapore businesses, climate-related data is becoming especially important. Companies should start building reliable internal systems for collecting and reviewing emissions, energy, and operational data.

ESG data companies need to collect

Before preparing an ESG report, a company needs the right data. Many reporting problems happen because data is scattered across departments, suppliers, invoices, spreadsheets, HR records, and facility teams. Important ESG data may include:

• Electricity consumption
• Fuel consumption
• Scope 1 emissions
• Scope 2 emissions
• Scope 3 emissions, where applicable
• Water use
• Waste generation and recycling
• Employee headcount
• Training hours
• Workplace injury records
• Diversity data
• Supplier information
• Board and governance data
• Anti-corruption policies
• Sustainability targets and progress

A good ESG reporting process starts before writing. It starts with data ownership, clear methodology, and proper review.

Common ESG reporting challenges for businesses

Many companies in Singapore face similar problems when preparing ESG reports.

1. Unclear framework selection: Some businesses are not sure whether they should use SGX, GRI, ISSB, TCFD, or a combination. This can lead to confusing reports.
2. Weak ESG data: Data may be incomplete, inconsistent, or stored in different departments. Without proper data control, the report may not be reliable.
3. Limited climate reporting knowledge: Climate disclosure can be technical. Scope 1, Scope 2, Scope 3, emission factors, transition risks, physical risks, and scenario analysis may feel difficult for first-time reporters.
4. Poor materiality assessment: Some companies report everything. Others report too little. A proper materiality assessment helps identify the ESG topics that truly matter to the business and stakeholders.
5. Lack of internal ownership: ESG reporting is not only a sustainability team task. Finance, HR, operations, procurement, legal, risk, and senior management may all need to contribute.

How to prepare an ESG report in Singapore

A structured process makes ESG reporting easier and more credible.

1. Confirm your reporting requirements
   First, identify whether your company falls under SGX reporting requirements, upcoming climate disclosure rules, customer requirements, investor expectations, or voluntary reporting needs.
2. Choose the right ESG framework
   Select the framework based on your reporting purpose. SGX may be required for listed companies. GRI may support broader sustainability reporting. ISSB and TCFD may support climate-related financial disclosure.
3. Conduct a materiality assessment
   Identify the ESG topics that matter most to your business and stakeholders. This may include climate risk, CBAM, emissions, labour practices, workplace safety, governance, supply chain issues, and resource use.
4. Collect ESG data
   Gather data from relevant departments. Make sure the data has clear sources, calculation methods, and internal owners.
5. Calculate GHG emissions
   For climate reporting, calculate Scope 1 and Scope 2 emissions. If needed, prepare for Scope 3 emissions as well.
6. Draft the ESG report
   Write the report in a clear and structured way. Avoid broad claims. Use evidence, numbers, policies, and practical examples.
7. Review and improve
   The report should be reviewed by management as well as relevant teams. For companies preparing for assurance, data quality and documentation become even more important.
8. Publish and communicate
   After publication, use the ESG report to support investor communication, customer trust, supplier engagement & internal sustainability planning.

Why choose EcoSphere for ESG reporting in Singapore?

EcoSphere Sustainability Solutions Pte. Ltd. is a trusted sustainability and ESG consulting firm in Singapore. We help businesses make ESG reporting clearer and more manageable. The process can feel technical at first, especially when different frameworks, climate data, and reporting timelines come together. We simplify that process without weakening the quality of the report.

• Framework-based reporting: We align ESG reports with relevant frameworks such as SGX, GRI, ISSB, and TCFD.
• Singapore-focused guidance: We help businesses understand local ESG reporting expectations and decarbonization plans.
• Practical data support: We support GHG carbon data collection, emissions calculation, and reporting structure so the final report is based on real information.
• Clear and credible content: We prepare ESG reports that are easy to read, well-organised, and suitable for stakeholders.
• Climate disclosure readiness: We help companies prepare for climate-related reporting, including Scope 1 and Scope 2 emissions.
• Long-term ESG improvement: We do not only prepare reports. We also help businesses identify gaps and improve ESG performance over time.

Check your ESG reporting readiness with us

Choosing the right ESG reporting framework can save time, reduce confusion, and improve report quality. It also helps your business prepare for future disclosure expectations in Singapore and Malaysia, as well as across regional markets.

If your company needs support with energy efficiency assessment, SGX sustainability reporting, GRI reporting, ISSB-aligned disclosure, or TCFD climate reporting, EcoSphere can help you build a clear and practical reporting process.

Contact us today to start your ESG reporting journey with confidence.