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)

Note:

Group applications (two or more companies listed as applicants in one application form) are not allowed.
Retrospective applications (i.e. project has started, payment has been made, or a contract has been signed with the third-party consultant/vendor prior to application submission) are not permitted.

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.

Note: NLCos whose parent company reports climate-related disclosures using other international standards and frameworks (e.g. GRI, TCFD), will be exempted from reporting and filing climate-related disclosures with ACRA for a transitional period of 3 years, from FY2027 to FY2029. As this exemption is only valid for a transitional period, such companies will still be eligible for SRG if they choose to develop their first ISSB-aligned report before the end of the transitional period, subject to meeting the rest of the eligibility criteria.

	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 or (ii) annual revenue between S$100 million and <S$1 billion
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. Eligible reports beyond FY commencing on or after 1 January 2028 will be dependent on ACRA’s review in 2027 on whether to expand mandatory CRD to this group.
Application Deadline	31 May 2025	31 May 2027 Note: Deadline for NLCos under transitional exemption is 31 Mar 2030.	To be determined^{#^{^# Deadline will be dependent on ACRA’s review in 2027}}

*Last updated: 1 November 2024

Check your eligibility for sustainability reporting programmes here.

Refer to the FAQs for more information.

How to apply

Access the Business Grant Portal to apply for the SRG.

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 of equipment and software, with breakdown of cost, e.g. purchase price, installation cost, lease or subscription period etc.

Claims

Step 1: Refer to Letter of Offer

Refer to your Letter of Offer for details on:

Project Qualifying Period
Project Deliverables

Projects should have been completed within the specified qualifying period, and all project deliverables should have been achieved.

Step 2: Prepare documents

The following documents must be submitted for evaluation of project deliverables under the SRG:

First sustainability report in accordance with the ISSB standards (for the FY prior to the mandatory compliance timeline stipulated by SGX / ACRA)
Accompanying assurance statement for the sustainability report, prepared by an external assurance provider.

The provision of either limited or reasonable external assurance can be accepted. The external assurance statement must minimally reflect that Scope 1 & 2 GHG emissions in the submitted sustainability report have been verified.

Accompanying documents to support claims of other qualifying costs

Accompanying documents may include, but are not limited to, the following

External Consultancy Costs	Contract with consultancy indicating project scope, fee breakdown, deliverables etc. Proof of payment, which could include bank statements and receipts
External Assurance Costs	Contract with assurance provider Proof of payment, which could include bank statements and receipts
Equipment & Software	Equipment & Software Delivery order(s) stating delivery date and invoice(s) Proof of payment, which could include bank statements and receipts Equipment & Software (acquired on hire purchase) Delivery order(s) stating delivery date and invoice(s) Hire purchase contract with repayment schedule Proof of payment of at least 1 instalment
Manpower Training	Training course provider and outline Names of employees and proof of attendance Employment contract to demonstrate that staff trained is a permanent or contract staff Proof of payment, which could include bank statements and receipts

Step 3: Submit claims

As all SRG claims are subjected to audit, you are required to engage an external Auditor for audit verification as per instructions included in the Letter of Offer first, before submitting the claim.

Upon completion of the project and achievement of the project’s deliverables, as well as the audit verification, proceed to submit your claim on the Business Grant Portal.

Refer to the Letter of Offer for more details.

Sustainability Reporting Grant