Knowledge Highlights 13 November 2024
New Singapore Emission Factors Registry for more accurate reporting of carbon emissions
On 15 April 2024, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations Grace Fu announced the launch of the Singapore Emission Factors Registry (“Registry”) at the opening of Ecosperity Week 2024. Singapore Business Federation (“SBF”) will lead the setting up of the Registry together with Agency for Science, Technology and Research (A*STAR) and corporates from the business community.
Supported by the Ministry of Trade and Industry and Ministry of Sustainability and the Environment (“MSE”), the Registry will capture a database of emission factors (“EFs”) based on Singapore’s context. The EFs act as conversion factors that translate various business activities into corresponding greenhouse gas emissions. The idea of developing a registry emerged from a Forward Singapore conversation in 2022, where companies highlighted the difficulties presented in reporting Scope 3 emissions (i.e. all indirect greenhouse emissions that occur in an organisation’s value chain). Currently, most Singapore businesses make use of EFs from international sources for their sustainability and carbon emissions reporting, especially for Scope 3 emissions.
When ready, Singapore-based businesses may rely on the Registry to track and report their emissions more accurately. Businesses can look forward to being able to make informed decisions on how to reduce their carbon footprint based on their environmental impact. The Registry supports existing reporting tools and solutions in the ecosystem that help enterprises automate their sustainability reporting process.
The phased development of EFs with an initial baseload comprising data collected and consolidated from various government agencies is expected to be ready by the end of 2024. This includes EFs related to transportation, water, general waste, and energy. EFs for new categories and activities will be developed and released based on industry consultations and demand.
Reference materials
The following materials are available on the SBF website www.sbf.org.sg and MSE website www.mse.gov.sg:
