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Singapore: Report explains scope & importance of required sustainability reporting recently announced by stock exchange

Author: Jessica Cheam, Today (Singapore), Published on: 3 November 2014

"SGX move to mandate sustainability report long overdue", 31 October 2014

…At the Singapore Compact CSR (corporate social responsibility) Summit…SGX [The Singapore Exchange] chief executive Magnus Bocker said the bourse will be mandating that all listed companies publish sustainability reports in a “comply or explain” approach…Put simply, it requires a company to measure and report on the environmental and social impact of its business on top of its financial and governance performance…This includes a wide range of issues such as biodiversity loss and greenhouse gas emissions (environmental); workplace health and safety and employee relations (social); and bribery, corruption and business ethics (governance)… Sustainability reporting can be an effective crystal-ball gazing or scenario-planning exercise to help firms prepare for the future and evaluate environmental and social risks that have material impact on their business and share prices…To a large extent, requiring sustainability reports from our largest companies will automatically raise transparency levels across all sectors of the economy…

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