New grant helping firms with climate reporting to launch in November

Large companies and small and medium-sized enterprises (SMEs) will receive help to produce their first climate-related sustainability reports from Nov 1.

- Sharon Salim Business Correspondent

Enterprises with 30 per cent of local shareholding can apply via Enterprise Singapore (EnterpriseSG) at enterprisesg.gov.sg/srg, while other companies can apply through the Economic Development Board at edb.gov.sg/en/grants/incentives-and-schemes.html.

Previously announced in March, the Sustainability Reporting Grant will help large companies with annual revenues of at least $100 million and above to develop their first International Sustainability Standards Board-aligned sustainability report. The grant defrays up to 30 per cent of qualifying costs, which include manpower training and consultancy services, capped at $150,000.

It is mandatory for all listed companies in Singapore to submit climate-related disclosures starting from FY2025, and for large non-listed companies to make them by FY2027.

While it is not mandatory for local SMEs with annual revenues below $100 million to do climate reporting, those which want to prepare early to develop their first sustainability reports can also get help under the SME Sustainability Reporting Programme, said EnterpriseSG in its media release on Oct 21.