Sustainability Reporting Grant
Get support on developing your first sustainability report consistent with the International Sustainability Standards Board’s (ISSB) standards
About this programme
Investors are increasingly using climate-related disclosures to understand companies’ environmental strategies and make their investment decisions. With heightened demand for companies to publish climate-related disclosures, including regulations to mandate climate-related disclosures for selected Singapore-incorporated companies, EDB and EnterpriseSG have launched the Sustainability Reporting Grant (SRG).
The SRG provides funding support for Singapore-incorporated companies to produce their first International Sustainability Standards Board’s (ISSB)-aligned sustainability report in Singapore before compliance for mandatory climate-related disclosures sets in.
The grant defrays up to 30% of qualifying costs* capped at S$150,000, whichever is lower.
*Qualifying costs incurred in the preparation of (i) an ISSB-aligned sustainability report with (ii) an external assurance statement (verifying minimally Scope 1 & 2 Greenhouse Gas (GHG) emissions), covers the following:
- External consultancy costs
- External assurance costs
- Equipment and software
- Manpower training (only applicable to permanent or contract employees of the company)
Eligibility
The SRG will be applicable to:
-
All Singapore-incorporated listed companies on the Singapore Stock Exchange (SGX), regardless of size -
Singapore-incorporated companies with an annual revenue of at least S$100 million
-
Be producing its first sustainability report consistent with the International Sustainability Standards Board standards ("ISSB standards")
This comprises: (i) IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and (ii) IFRS S2 Climate-related Disclosures.
For information on the ISSB standards, please refer to the International Financial Reporting Standards Foundation (IFRS) website.
Each company is limited to only one application for the first ISSB-aligned sustainability report.
Companies will not be eligible for the grant if:
- Unless otherwise advised by EnterpriseSG, they have commenced on the project at the point of grant application. Projects are considered to have commenced if any of the following took place before the application date:
- They have started work
- They have made payment to third-party, who is part of the application
- They have signed contractual agreement(s) with a third party, who is part of the application
- They have already published a sustainability report consistent with the ISSB standards.
- They have already reached their compliance timeline for mandatory climate-related disclosures in Singapore.
- They are non-listed companies (NLCos) which are exempted for mandatory climate-related disclosures in Singapore. The exemption applies to NLCos whose parent company already reports climate-related disclosures using ISSB-aligned local reporting standards or equivalent standards, such as the European Sustainability Reporting Standards (ESRS), and the NLCo’s activities are included in that parent’s report which is available for public use.
| SGX-Listed Companies (ListCos) | Large Non-Listed Companies (Large NLCos) | Other Non-Listed Companies | |
|---|---|---|---|
| Scope of companies for mandatory climate-related disclosures | All ListCos (including REITs and Trusts, excluding ETFs) | Companies with annual revenue ≥S$1 billion and total assets ≥$500M (unless Large NLCo is exempted) | Companies, with:
(i) annual revenue ≥S$1 billion and total assets <S$500M
|
| Sustainability Reports eligible for SRG |
Sustainability reports for the FY commencing between 1 January 2024 – 31 December 2024 (CRD in accordance with ISSB standards will be mandatory from the FY commencing on or after 1 January 2025) |
Sustainability reports for the FY commencing between 1 January 2024 – 31 December 2026. (CRD in accordance with ISSB standards will be mandatory from the FY commencing on or after 1 January 2027) |
Sustainability reports for the FY commencing between 1 January 2024 – 31 December 2027*. |
| Application Deadline | 31 May 2025 | 31 March 2027
|
To be determined#
|
How to apply
Link to application portal will be available here when the grant is launched on 1 November 2024.
EnterpriseSG will be processing applications from eligible companies which has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership.
For eligible companies whose local ownership is <30%, kindly contact Economic Development Board (EDB) to submit a formal application.
There are no pre-approved vendors for the SRG. However, for Assurance Providers, they should be: (i) audit firms registered with ACRA, or (ii) Testing, Inspection and Certification firms accredited by Singapore Accreditation Council.)
Documents to prepare for application:
- Audited financial statements or certified management accounts for the company’s last FY (for ListCos) and last 2 FYs immediately preceding the reporting FY (for NLCos) for the sustainability report
- For Consultancy and Assurance Costs:
- Quotation or proposal details with fee breakdown by project scope, project phases and description, fee breakdown etc
- For Manpower Training:
- Quotation or proposal details with training description, employees participating in training programme and respective employment status
- For Equipment & Software:
- Quotation or proposal details with training description, employees participating in training programme and respective employment status
The following documents are mandatory deliverables for companies that intend to tap on the SRG:
- First sustainability report in accordance with the ISSB standards (for the FY prior to the mandatory compliance deadline stipulated by SGX / ACRA)
- Accompanying assurance statement for the sustainability report, prepared by an external assurance provider
Sustainability Reporting Grant
Other ways we help
Enterprise Sustainability Programme
Integrate sustainability into your business to capture new opportunities in the green economy.
Sustainability Courses
Discover what being sustainable means for your business and learn best practices from industry partners.
