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Sustainability needs to move high up the boardroom agenda
A survey reveals ESG issues are discussed in only a fraction of meetings. Some vision and purpose are urgently required.
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About 40 per cent of Singapore respondents in a survey said their boards either never discuss sustainability or do it once a year.
ST PHOTO: AZMI ATHNI
Sunil Puri
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Recent developments in Singapore show that turning up the heat on companies to adopt environmental, social and governance (ESG) strategies for a sustainable future is well under way.
Companies in the financial, agriculture, food and forest products, and energy sectors will be required to include climate-related disclosures in their sustainability reports under a phased-in scheme that kicked off in June. It will even become mandatory for large non-listed companies from the 2027 financial year – making Singapore the first country in Asia requiring such disclosures from non-listed companies.
