Enterprise Singapore launches new grant and programme to level up sustainability reporting capabilities for Singapore companies
28 November 2024
On 1 November 2024, Enterprise Singapore (“EnterpriseSG”) launched a new grant and programme to support Singapore-incorporated companies in developing their sustainability reports.
Sustainability Reporting Grant
Launched by EnterpriseSG and the Singapore Economic Development Board (“EDB”), the Sustainability Reporting Grant (“SRG”) supports Singapore-incorporated companies which are impacted by or are preparing for mandatory climate related disclosures in Singapore by helping them produce their first International Sustainability Standards Board (“ISSB”)-aligned sustainability report in Singapore, before mandatory reporting takes effect. The SRG is available to all Singapore-incorporated companies listed on the Singapore Exchange regardless of revenue size, and non-listed Singapore-incorporated companies with an annual revenue of at least S$100 million.
The SRG will defray up to 30% of qualifying costs capped at S$150,000, whichever is lower. Qualifying costs can include consultancy and external assurance services, manpower training, as well as the purchase of equipment and software needed to prepare an ISSB-aligned sustainability report.
SME Sustainability Reporting Programme
While Singapore small and medium-sized enterprises (“SMEs”) with annual revenues below S$100 million are not required to do climate reporting, those that wish to prepare early to develop their first sustainability reports can receive support under the SME Sustainability Reporting Programme. Through this programme, EnterpriseSG will partner service providers to offer advisory services at cost-competitive rates, helping Singapore SMEs prepare their first sustainability reports. The services will cover key areas in sustainability reporting such as identifying material areas, collecting data and quantifying emissions, and report drafting in line with the Global Reporting Initiative or Task Force on Climate-related Financial Disclosures frameworks. EnterpriseSG will defray 70% of eligible costs for SMEs that apply for support from 1 November 2024 to 31 March 2026, and 50% for applications from 1 April 2026 to 31 October 2027.
EnterpriseSG sustainability report
EnterpriseSG launched its inaugural sustainability report on 21 October 2024, covering its efforts to embed sustainability within its operations and build globally-competitive Singapore enterprises with capabilities to unlock opportunities in the green economy.
Reference materials
The following materials are available on the EnterpriseSG website www.enterprisesg.gov.sg: