In June 2016, Singapore Exchange Limited (SGX) made it mandatory for all companies listed on its exchange, The Straits Times Index (STI), to report their environmental, social and governance (ESG) practices from 2017. SGX’s announcement was not a sudden decision. It was several years in the making and done with the objective to meet the growing demand of investors for sustainable investments. With this new ruling, companies had to comply or offer explanations for non-reporting. Compliance required the reporting to include board statements that would “describe the company’s sustainability actions, identify ESG factors that affect business strategies, explain their practices and performances, and set targets.”

The research study analyses the sustainability reporting by the top companies listed on the STI, so as to make sense of the nascent efforts taken by these benchmark firms during the early days of this new ruling. Apart from investigating reporting standards, firm size, nature of business activities, and scope of disclosure (such as that of water utility and emissions), we are exploring more comprehensive issues, including how and the extent to which firms have articulated their commitment to sustainability in more concrete terms, such as incorporating sustainability actions into their corporate strategy and reengineering day-to-day operations to meet sustainability objectives.

During the seminar, we will elaborate on the objective, scope, and approach of our study, as well as its conceptual underpinnings, and share some interesting observations from our ongoing analyses. We shall also discuss the implications for public policymaking and organizational strategies related to sustainability.