Global Compact Network Singapore (GCNS) Appointed by Singapore Exchange (SGX) to Organise Sustainability Reporting Workshops for Listed Companies
Mandatory sustainability reporting on a “comply or explain” basis was introduced in June 2016 after a public consultation by SGX. Such reports will include environmental, social and governance (ESG) efforts, providing greater transparency on how companies’ non-financial risks are managed.
Singapore Exchange’s training workshops to help listed companies build capability in their sustainability reports will begin from 20 February 2017. Sustainability reporting takes effect for any financial year ending on or after 31 December 2017.
GCNS has been appointed by SGX to organise one-day workshops to assist listed companies prepare their sustainability reports. As the lead agency for corporate sustainability in Singapore, GCNS assists businesses to begin, broaden and deepen their business sustainability efforts.
A total of 11 consultants with expertise and experience in sustainability reporting will conduct the workshops.
Up to 40 workshops will take place over a five-week period, with each session targeted at a particular sector. While the cost of the full day workshops is estimated at $500 per participant, each listed company can send up to two representatives and need only pay $250 per person with subsidies provided by SGX. The subsidises for listed companies will end 31 March 2017.
Companies can now sign up for the workshop at www.sustainabilityreporting.sg. This website also serves as a resource portal for companies on sustainability reporting.
"Global Compact Network Singapore is delighted to be the appointed organiser of the Singapore Exchange workshops to assist listed companies in strengthening their sustainability reporting capability. This presents an opportunity for Singapore-listed companies to be more attractive to a global market seeking investment in entities with sound sustainability practices." Mr Ho Meng Kit, CEO of Singapore Business Federation (SBF) and Vice President of GCNS Management Committee.
The Sustainability Reporting Workshops are one way GCNS is helping to build a larger ecosystem of companies integrating sustainability as part of their business modus operandi.
Companies can expect other helpful events like the Sustainability Reporting Seminar Series, and a slew of other training and networking sessions that GCNS will roll out to build a business community ready for the future economy.