To help businesses develop their first sustainability reports, a new grant will defray the costs that large companies incur; a separate new programme will guide small and medium-sized enterprises (SMEs) through the process.
The Sustainability Reporting Grant is for large companies with annual revenues of S$100 million and above. It will cover up to 30 per cent of qualifying costs, capped at S$150,000 per company, for the preparation of a company’s first sustainability report.
“As the world embraces sustainable goals and practices, customers and investors will increasingly expect businesses to be more transparent about their carbon footprint,” said Minister of State for Trade and Industry Low Yen Ling, during the ministry’s Committee of Supply debate on Friday (March 1).
This follows Wednesday’s announcement that large non-listed companies will have to make climate disclosures from FY2027.
To qualify for the grant, disclosures must be consistent with the International Sustainability Standards Board’s standards. The grant is administered by the Economic Development Board and Enterprise Singapore (EnterpriseSG).
Among SMEs, sustainability reporting will help them “stay relevant as disclosure of carbon footprint data becomes commonplace”, said Low.
