2022-08-03
ESG 101: A Beginner’s Guide to ESG Reporting
ESGhub Research
ESG 101: A Beginner’s Guide to ESG Reporting
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ESG in 2021: Singapore
Although Singapore’s ESG disclosure is on the right path, there continues to be room for improvement in certain areas. In 2021, according to SGX reports, only 61.1% Sustainability Reports disclosed evaluated ESG performance of subsidiaries and an even lower percentage of 21.4% evaluated full business operations from supply-chain to final product. Under Singapore’s current ‘comply-or-explain’ regulations, as suggested by such figures, there is insufficient incentive for firms to bear additional costs and procedures of completing entire value-chain ESG data collection and analysis. Similarly, with no requirements of external validation, only 2.8% of firms’ Sustainability Reports are verified by third party organizations – a figure unchanged between 2019 and 2021. With ESG disclosure being a complicated process, smaller firms on average produce lower quality reports, where small cap (<S$300 million) scored an average of 70.3, mid cap (S$300-S$1 billion) firms 72.0, and big cap (>S$1 billion) firms 78.6.
ESGhub Research2022-08-02