In 2024, 97% Singaporean listed companies reported some climate information in accordance with the TCFD framework, up from 73% in 2023, according to a review by the Singapore Exchange Regulation (SGX RegCO) and NUS Business School.
Moreover, the average number of TCFD disclosures companies provided doubled - from four in 2023 to eight in 2024.
However, the review also found that only 28% provided disclosures in line with all 11 of the TCFD recommendations.
All the companies required to produce TCFD disclosures for FY2023 disclosed some climate information, but only 36% met the SGX RegCo requirement of providing all 11 disclosures.
Disclosures on climate scenario analysis, integration of risk management processes and climate targets were highlighted as the most lacking amongst listed companies.