SGX pushing for greater sustainability disclosure [News]
By Thomas Cho, Channel NewsAsia, 19 Mar 2013.
The Singapore Exchange (SGX) is pushing for listed companies to disclose more details about their sustainability practices.
This comes after a recent study by SGX and KPMG revealed a lack of genuine commitment by Singapore-listed firms to report details about the social and environmental aspects of their business.
Besides raising the level of sustainability disclosure, SGX may also look into setting up a sustainability index for Singapore-listed stocks.
Just 13 per cent of 100 companies surveyed by the SGX and KPMG use internationally-recognised standards to report sustainability-related matters.
To facilitate greater disclosure, the Singapore bourse will introduce more tools to support listed firms in their reporting.
Tools for retail investors, such as an online investors’ guide to reading sustainability reports, will also be made available.
SGX may also explore the possibility of a sustainability index.
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Source: Channel NewsAsia