23 Mar '11, 3pm

S'pore falling behind on sustainability reports compared to ASEAN peers

SINGAPORE: Singapore companies are falling behind when it comes to sustainability reporting with only 59 such reports produced in the country's history - a relatively small number compared with its ASEAN peers. Experts at CSR Asia say that this highlights the risk that local business are running of losing out to other Asian countries which are already marching ahead with significantly higher levels of reporting on environmental, social, and governmental issues. Last year the Singapore Exchange issued a "Policy Statement on Sustainability Reporting" and a proposed guide for its listed companies to use when formulating such reports. However, experts say that if companies don't respond, sustainability reporting could stop being a voluntary act and become a regulatory obligation. And it may happen in as early as in three years. To further encourage Singapore companies to move ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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