The Singapore Stock Exchange, SGX, has put out a set of guidelines encouraging listed companies to adopt sustainability reporting. With a market cap of $480 billion, the securities exchange is a leading player in the Asia-Pacific region. The move by the tiny country appears to be a warming of its feet—the precursor to making sustainability reporting a requirement for all companies listed on the exchange. But for now, there is no mandate and the government says it's simply making suggestions. So how can the Singapore convince companies to adopt sustainability reporting? The answer appears to be public pressure.
The country has opened up the proposal writing process to the views of Singaporeans to get their feedback. "SGX is seeking feedback from the public on the adoption of sustainability reporting and its policy guidelines as a holistic approach towards corporate disclosure," according to the official release. "The Policy Statement and Guide will be available on the SGX website."
So, you or your Singaporean friends and family have until October 29th to make your views known, by emailing your suggestions, demands, comments, jokes, etc. to email@example.com. Nothing like a little ol' peer pressure to get the country's leading companies to ramp up their sustainability efforts.