The Singapore Exchange (SGX) unveiled its roadmap for disclosures around board diversity, a matter that received strong market support. "Recent uncertainties have posed financial and governance challenges for boards. Having a broad set of perspectives will better enable companies to anticipate and face these challenges. It is therefore crucial that boards are diverse and have the necessary skill and experience to deal with the complexities of today’s operating environment,” Tan Boon Gin, CEO of SGX RegCo said.
A public consultation that also proposed a set of core ESG metrics, and a portal for issuers to input ESG data, received strong market support. Though not mandated, these metrics will serve as a starting point for what companies can disclose in their sustainability reports. SGX expects the portal to house ESG information beyond the core ESG metrics. The information recorded in the portal may include material ESG factors, commentaries and explanations for reported metrics, and discussions on strategies, processes, board statements, and targets.
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