Draft Singapore Financial Reporting Standard S1 General Requirements for Disclosure of Sustainability-related Financial Information

The draft applies to entities preparing sustainability-related financial disclosures, including companies subject to mandatory climate-reporting requirements, as well as assurance providers, lenders and investors using such information. Based on IFRS S1, it requires entities to disclose information on sustainability-related risks and opportunities that could affect cash flows, access to finance or cost of capital over the short, medium and long term, covering governance, strategy, risk and opportunity management, and metrics and targets. Singapore proposes to incorporate climate-related portions into SFRS S2; SFRS S1 covers broader sustainability disclosures beyond climate and is proposed to be voluntary. References to SASB materials are proposed to be optional.