How are Singaporean Companies Disclosing on the SDGs in 2020

How are Singaporean Companies Disclosing on the SDGs in 2020?

Research by Paia, November 2020

The SDGs (or Sustainable Development Goals) are 17 goals containing 169 targets that all countries (including Singapore) have signed up to meet by 2030 to address inequality, hunger and tackle climate change (amongst other things).

To achieve the goals, the private sector undoubtedly needs to play a significant part. Just like other ESG endeavors, private sector contribution to the SDGs represent a huge business opportunity.

In Asia alone, business leaders can unlock an estimated US$5 trillion and generate 230 million jobs, by pursuing strategies aligned with the Global Goals[1].

Globally, there are economic opportunities across 60 “hot spots” that are worth up to US$12 trillion, with a potential to create 380 million jobs by 2030.

Through our independent research, Paia has taken a look at how the top 100 SGX-listed companies are performing against the SDGs, and identified where more action is needed.


SD Whats?

In 2015, the United Nations set an agenda to address global environmental, social, and economic challenges such as social and economic inequalities, hunger, environmental degradation, and climate change.

17 ‘Sustainable Development Goals’ (SDGs) were agreed by all countries – with each country developing specific plans to address each goal (and the associated targets) based on their stage of economic development.

These 17 goals supersede the 8 Millennium Development Goals identified in 2000 to tackle global poverty.


Our approach

It has been 5 years since the goals were agreed. How well are Singaporean companies doing in incorporating these goals into their company’s strategic sustainability initiatives as well as their day to day business?

To answer this question, we examined the annual or sustainability reports of the top 100 Singaporean companies listed on the Singapore Exchange (SGX) (by market cap, as of April 2020) to see if they were reporting on their contribution to the SDGs, and if so how well?


How are Singaporean companies doing?

We found that 57 out of the 100 top SGX listed companies incorporated SDGs into their sustainability or annual reports (Figure 1). This is a 23% increase from last year, where only 34 out of 100 top SGX-listed companies (as of early 2019) reported on the SDGs.

Companies were considered to have identified the SDGs if they have mentioned specific Goals the company can and/or is able to contribute to through their operations/business activities.

Proportion of top 100 SGX companies reporting on SDGs

Figure 1


The three SDGs which featured most consistently in the 57 companies reporting include:

  1. Decent Work and Economic Growth (SDG 8),
  2. Climate Action (SDG 13); and,
  3. Good Health and Wellbeing (SDG 3)

Last year, interestingly, the top three SDGs reported on were, SDG8, SDG12 and SDG 13 – holistically covering economic, environment and social aspects. Particularly, the increased focus and alignment with SDG 3 is timely as companies and the world attempts to recover from a global pandemic. Going forward, we can expect greater alignment to climate action as Singapore increasingly positions itself as a global hub for low carbon solutions and climate finance.

Figure 2 below shows the number of times each of the 17 SDGs were referenced by the 57 companies who incorporate SDG information in their sustainability/ annual report.

SDGs Identified by Top 100 SGX Companies

Figure 2

What can we conclude?

There is definitely improvement from previous years on SDG reporting. With less than half of the top 100 SGX-listed companies reporting in 2019, to there being close to 60% of companies reporting on the Goals this year.

Incorporating SDG related activities into company reporting is voluntary. The fact that 57% of the top SGX companies mentioned the SDGs is commendable.

Companies also reported they were working on initiatives aligned with the SDGs, even if they did not mention these initiatives explicitly. Many companies also stated they intend to incorporate SDGs into their future reports.

However, Singapore companies could do well to better align to Goal-specific targets, such as the 13 targets for Goal 3, listed in Figure 3. Each target under the SDGs also contain various indicators that might be helpful for companies and organisations to include in their reporting, or have strategic oversight for.

Targets of Sustainable Development Goal 3 to ensure healthy lives and promote well-being for all at all ages

Figure 3. Targets of Sustainable Development Goal 3 to ensure healthy lives and promote well-being for all at all ages, WHO


Final Thoughts

As the COVID-19 pandemic continues to impact lives and livelihoods, many of noted the impact of the health, social and economic crises on the progress towards achieving the SDGs. This makes urgent action ever more necessary.

With less than 10 years left to achieve the Global Goals, businesses will need to work alongside government and civil society counterparts to pursue a Decade of Action towards 2030, through a collaborative approach.

[1] Better Business, Better World: Asia report (June 2017) by the Business & Sustainable Development Commission (BSDC)

sgx sustainability reporting workshop

SGX offers companies subsidised sustainability reporting workshops

Paia will be running the following SGX subsidised workshops primarily focused to assist Singapore Exchange (SGX) listed companies to meet the new requirements.

Carrie Johnson, Director of Paia Consulting, said,

“It is great that SGX has appointed GCNS to organise the workshops which will encourage companies to start reporting early. Having helped SGX-listed companies on sustainability reporting for over a decade, early starters are more likely to gain from the business opportunities that sustainability management can bring.”

Industrials – Transportation on 27/02/2017 @ 9:00am Ended

Industrials – Commercial & Professional Services on 27/02/2017 @ 9:00am Ended

Industrials – Capital Goods on 27/02/2017 @9:00am Ended


Industrials – Capital Goods on 13/03/2017 @ 9:00am

Industrials – Commercial & Professional Services on 13/03/2017 @ 9:00am

Industrials – Transportation on 13/03/2017 @ 9:00am

Consumer Discretionary on 20/03/2017

Consumer Staples on 22/03/2017 @ 9:00am


Credible. Simple. Sustainability Reporting.

Let these four words live and breathe together.


“From complexity comes stress, anxiety and frustration – even rage – followed by apathy and exit. But you do not have to be a victim any more.”

Edward de Bono, Philosopher


Companies are increasingly looking at planning their Sustainability Reporting to comply with SGX Sustainability Reporting Guidelines. Many are integrating sustainability risk management into the business.

Such work, coupled with the process of preparing a Report, can help meet investor analysts’ needs, showcase the forward looking approach of management and improve access to finance. The work you put in will also help preserve your license to operate, save costs, attract and retain talent, create innovation and lead to new markets. A bunch of companies recently shared their views on this at a free Paia breakfast briefing.

But what if your customers and investors are expecting a response to sustainability and you don’t have one?

You need to get started.

  1. First, list who your stakeholders are. These are people and groups who, (i) are affected by your organisation, and (ii) who affect you. Decide how you wish to engage with them, if you’re not already (eg customers and suppliers will likely be sharing views on certain issues already).
  2. Then list ESG issues – Environmental, Social and Governance risks and opportunities. Keep it a deliberately long list. Even if your business is a holdings company for example there will be ESG issues to consider.
  3. Then, with the help of a small specialist advisory firm, use a couple of processes and techniques to filter out what matters; and then develop a sustainability report on it.

Wider sustainability risks may be new to your commercial and governance teams. If so, a credible approach to dealing with them is to understand what matters, and to whom. There are hundreds of risks, many with perhaps only marginal relevance to you. A credible approach uses tried and tested techniques (eg, materiality). The stakeholder list is used in such work.

“Credible” need not mean complex. Having seen various approaches to sustainability management and reporting over the last 20 years, we at Paia want companies to embrace sustainability as part of doing business, but in a straight forward manner. “Simple” means clarity, understanding, engagement. Depth and reach can come later. And government, regulatory, investment and other institutional stakeholders encourage baby-steps first, to encourage uptake.

To make sure life remains simple you will need to plan. So, as we said in June, you will benefit from an early start on tasks such as issues prioritisation, resourcing, policy development, content management, design etc. As I write it’s September: this is ‘Kick-off’ month for most. Don’t leave it to the 11th hour!

Some of you may be wary of targets and how to use them in sustainability management practice. If, for example, you’re listed on SGX then take heart: SGX rules allow targets to be qualitative. So that allows for simplicity. At first. As part of a phased approach to corporate sustainability programmes and reporting you’d be wise to talk with your stakeholders on what targets and KPIs would be appropriate. Paia is experienced in this.

Keep it simple, feasible, manageable. Plan it, lay the foundations, set targets, ensure an efficient project, make sure the output is credible and benefits your business.


Alex Nichols

Sept 2016


SGX Briefings for CEOs on Sustainability Reporting

SGX has recently introduced sustainability reporting by listed companies on a ‘comply or explain’ basis in response to growing international interest in sustainability. SGX is inviting CEOs of all SGX listed companies to a 2 hour briefing for clarity and understanding of the new requirement. The briefing will convey the purpose and meaning of SGX’s sustainability requirements, the essentials of a good report from a sustainability consultant and practical advice from a company with reporting experience. Sessions will be held at 9am on the morning of 11, 18 and 25 Aug 2016.

A slice of SGX Reporting for Breakfast at Paia

Paia held a Breakfast Briefing, July 15th to help Singaporean corporate reporters on their journey to producing meaningful, useful and compliant sustainability reports.

Paia Associate Director, Alex Nichols and Principal Consultant, Ms Wong Dan Chi gave us valuable insights and recommendations on how to build a good sustainability report and meet the new requirements of SGX’s Sustainability Guide.

The group of twenty breakfasting participants discussed why companies report and how embarking on a sustainability journey can lead to opportunities and benefits for a company. Paia’s experience is that companies always benefit from the ‘act’ of reporting, particularly the process of prioritising the issues to report on – i.e., the “materiality process”. Doing this well – with the involvement of top management – can lead to better employee engagement, knitting the teams together. It can improve relationships with external stakeholders such as customers, suppliers and investors. This can benefit the company business model – creating and protecting value.

Wong Dan Chi, took us through what to expect in practice from SGX requirements: the nuts and bolts of dealing with the 711A/B rule and how to organise your sustainability report. An example we discussed was about targets for each material issue and how to report SGX-compliant targets (they can be qualitative at first). We also discussed how to measure the opinion of external stakeholders and resolved that a simple approach will be sufficient at first, with depth and wider application of it as a business technique later in your sustainability journey. Other discussions looked at practicalities of whether a physical report is required, or whether a standalone report is required (no, and no).

Paia’s Sustainability Reporting Toolkit-Training package is for companies who wish write their report in-house. We have worked hard to generate a way for companies to learn intensively what they need to do in practice to meet SGX requirements for mandatory sustainability reporting (and beyond). A one-day training is complemented by a Handbook specially developed for training participants, along with bespoke Excel-based tools and a Sustainability Report Sample Tool.

Are you an new reporter (large, medium or small) requiring help with sustainability reporting? Please contact us at for more on our “Sustainability Report Toolkit”.

SGX launches Comply or Explain Sustainability Reporting

SINGAPORE Exchange (SGX) has officially released the Guidelines and Rule on Sustainability Reporting yesterday, June 20 2016.  These guidelines are in line with the global trend of stock exchanges requiring companies to report on their environmental, social and governance (ESG) issues for financial year 2017. The SGX guidelines expect that companies ‘comply’ or ‘explain’, that is, commit themselves to producing an annual guidance on environmental, social and governance (ESG) in the form of a sustainability report, or ‘explain’ why they are not doing so.

It is important to know that globally, twenty stock exchanges have already committed to producing a guidance for listed companies on ESG disclosures as part of the Sustainable Stock Exchanges Initiative (SSE). This required all stock exchanges that are members of the SSE and the World Federation of Exchanges (WFE) to provide listed companies with guidance on sustainability reporting by the end of 2016.  SGX has supported this initiative like many others and sees the introduction of these “Comply or Explain” guidelines for companies listed on their exchange, as a necessary step towards ESG and sustainability reporting so that companies can improve their communication with investors, analysts and stakeholders.

Getting non-financial information about a company has been difficult for investors. The main aim of these requirements is to provide a more complete profile of a company for investors and stakeholders. If your company wants to embark on your sustainability reporting journey, you may find Paia’s Sustainability Reporting Toolkit  that we are rolling out to simplify the reporting process specifically for SMEs. This Toolkit provides SMEs with the necessary tools to produce a sustainability report in line with SGX’s requirements.

Paia is also rolling out training sessions and workshops catered to companies wishing to produce quality sustainability reports. For more details, please visit our Training page

SGX releases Consultation Paper on Sustainability Reporting

The Singapore Exchange (SGX) released a consultation paper, ‘Sustainability Reporting: Comply or Explain’ on 5 Jan 2016. In the consultation paper, SGX provides a background and reasons for sustainability reporting, before putting forward amendments to both mainboard and catalist rules, and reporting guidelines. The proposed amendments and the guidelines will be open for public comment until 5 Feb 2016.

The primary components proposed to be included in sustainability reports are:

  1. Environmental, social and governance (ESG) factors material to the company,
  2. Policies, practices and performance of the company in relation to each material ESG factors,
  3. Targets for the forthcoming year,
  4. The Sustainability Reporting Framework used, and
  5. A Board Statement confirming compliance with SGX’s guidelines or explaining incompliance

The guidelines also provide some flexibility to companies. A phased approach for implementation of sustainability reporting is recommended, such that newly reporting companies are given time to ensure that their sustainability disclosures have quality and depth. Companies are also not expected to provide independent assurance of their reports in the early stages.

SGX is also seeking feedback for the inclusion of Anti-corruption and Diversity as part of the primary components. Other features awaiting comment include matters relating to stakeholder engagement, materiality, responsibilities of the board, and frequency of reporting. For the latter, SGX proposes that reports be published annually, within 5 months after the end of each financial year. All listed companies will begin sustainability reporting for any financial year ending on or after 31 December 2017.

In line with SGX’s Guidelines, Paia is rolling out a Toolkit to simplify the reporting process specifically for SMEs. This Toolkit provides SMEs with the necessary tools to produce a sustainability report in line with SGX’s requirements. Read more about it here.


More information about the consultation paper:

  • Business Times, “Designing a sustainability reporting regime”, 6 Jan 2016
  • Business Times,“SGX offers flexibility in proposed sustainability reporting rules”, 6 Jan 2016
  • The Straits Times, “SGX to seek feedback for sustainability report guidelines”, 5 Jan 2016
  • Channel News Asia, “SGX seeks public feedback on proposed rules for sustainability reporting”, 5 Jan 2016

Paia rolls out Toolkit for companies who want to publish sustainability reports in-house.


In line with SGX’s Guidelines requiring listed companies to produce sustainability reports, Paia is rolling out a Toolkit to simplify the reporting process specifically for companies who want to write their report in-house. This Toolkit provides the necessary tools to produce a sustainability report in line with SGX’s requirements.

What you will learn

Paia’s toolkit includes a five-stage approach in fulfilling the company’s requirements in sustainability reporting:


Stage 1 Stage 2 Stage 3 Stage 4 Stage 5
Gap Analysis & Sustainability Strategy Materiality Assessment & Stakeholder Engagement Data Collection & Compilation Drafting of first sustainability report Project Review & Recommendations



For more information, please contact Paia at 3157 6033 or send us an email at
Download the Paia  Toolkit brochure here.

Benefits from reporting, based on testimonials from over 400 SMEs [1]:


1. Develop vision and strategy on sustainability

During the reporting process, you are able to identify a link between the implementation of the reporting process and your strategic development.


2. Improve management systems, internal processes and set goals

A key benefit of the reporting process is that it allows your company to track progress and highlight areas needing improvement, so that you can manage what you measure and make changes where necessary.


3. Identify strengths & weaknesses

The reporting process provides early warning of trouble spots – and shows up unexpected opportunities. These discoveries can help your company’s management to evaluate potentially damaging developments before they emerge as unwelcome surprises (i.e. risk management), and/or grab opportunities before your competitors. It is also common that your company will identify critical issues which had not been considered before.


4. Attract, motivate and retain employees

Your company’s high performance standards and reputation are “intangibles” that help to attract and motivate employees. This will increase the trust between your company as an employer and its employees and so enhance your reputation. In the end, your workforce will contribute more and stay longer if it is motivated, empowered, and in agreement with strategic objectives.


5. Enhance reputation, achieve trust and respect

Your company’s key stakeholders are influenced by the reputation, respect and trust you have earned. As such, there are always concerns about how much the reputation of your company might be damaged by public disclosure on potential risks or bad news. The natural instinct is for you to avoid such admissions; however, balanced reporting can create trust and respect. This means reporting both on what goes well and also on where there is room for improvement.


6. Attracting funding

Providers of financial capital are asking tough questions of companies these days. Lending institutions and investors increasingly take into consideration performance in different aspects of sustainability issues when evaluating companies, e.g. good governance, ethical values, social priorities and environmental actions. Non-profit organizations are in a similar situation where they are dependent on donors and/or sponsors to fund their project activities. Implementing a GRI reporting process can help your company to improve the general management of sustainability issues and be prepared to talk openly about your performance. This demonstrates high-quality performance management which can provide access to funds.


7. Transparency and dialogue with stakeholders

The sustainability reporting process is an important tool to achieve transparency and disclose sustainability performance to your company’s stakeholders. As an SME, your stakeholders are likely to be clients, suppliers, local community pressure groups, providers of financial capital, employees and owners.

Through the relationships which the reporting process can create between your company and its stakeholders, you can receive feedback on your business operations, which will enable you to review processes and identify business opportunities.


8. Achieve competitive advantage and leadership

Sustainability reporting is still not common practice across all regions and sectors, especially for SMEs. For this reason, your company can be identified as a “leader in sustainability”. This is especially important because an increasing number of larger companies screen potential and current suppliers for their economic, social and environmental performance and the impact this may have on their own supply chain. By being able to show existing and potential clients your company’s commitment to conducting business in a sustainable manner, you increase your chances of being selected as a preferred supplier by larger companies.



[1] Global Reporting Initiative (GRI) Ready to Report. Introducing sustainability reporting for SMEs




SGX Targets Mandatory Sustainability Reporting for FY2017

Update (21st June 2016) SGX launches Comply or Explain Sustainability Reporting

Update (5 Jan 2016): SGX releases Consultation Paper. Read more here.

On the 6th of May 2015, the Singapore Exchange (SGX) announced plans to implement sustainability reporting on a ‘comply or explain’ basis. Under this regime, companies that do not follow SGX’s guidelines will be expected to explain why.

A new listing rule will be developed using Information SGX receives via an initial consultation exercise with listed companies; the information will be used to review SGX’s existing guidelines to sustainability reporting.

SGX expects the proposed Listing Rule and reviewed Guide to be submitted for regulatory approval by the end of 2015; and targets implementation for financial year 2017.

SGX is inviting stakeholders to participate in what is one of the most broad-ranging consultation exercises conducted by the exchange. In May 2015, SGX will conduct a survey of listed companies and run a series of focus group engagements to understand current sustainability reporting practices and the level of readiness among listed companies. Following this, SGX plans to reach out to institutional investors and sustainability professionals for feedback on the ‘Guide to Sustainability Reporting for Listed Companies’ published in 2011. Finally, SGX will conduct a public consultation (including the investing public) on the Listing Rule and reviewed Guide.

In a statement by SGX chief executive, Magnus Bocker, “We believe that greater transparency from listed companies will attract investors and empower them to make more informed decisions.”

Details can be found on SGX’s announcement ‘Consultation Exercise on Sustainability Reporting’, 6 May 2015.

Read more:

Need more information: Paia offers Sustainability Training to help you meet SGX requirements. Contact Us today.

sgx sustainability reporting workshop

SGX: Comply or explain approach to Sustainability Reporting

Reported from the Singapore Compact CSR Summit 2014 by Gillian Lim, Paia Consulting

The Singapore Exchange (SGX) announced that it will be enforcing a “comply or explain” approach to Sustainability Reporting in the near future, and hinted that may shift to fining companies for non-compliance further down the line.

The announcement came from Mr Magnus Bocker, Chief Executive Officer of SGX, during his keynote speech at the Singapore Compact CSR Summit on 17 October 2014.

SGX released voluntary sustainability reporting guidelines in 2011 to encourage firms to share relevant environmental and social information with investors. However, take up has been slow with feedback that many companies are waiting for the bourse to make it a rule.

Alluding to the improvements made to Corporate Governance guidelines over the last few years and how they have made SGX a better exchange, Bocker stated that he wishes to approach sustainability reporting in a similar manner. He also mentioned that new tools will be made available to SGX in coming years, including the ability to fine companies for non-compliance. While fining for non-compliance of sustainability reporting may not happen for several years, Bocker pointed out that these new tools are nevertheless expected to improve regulation over time.

He highlighted regional initiatives in Malaysia, India and Taiwan to promote sustainability reporting, practices and responsible investment. Globally, the world is getting increasingly involved in sustainability, including the World Federation of Exchanges, which has set up a sub-committee to look at ESG issues.

Bocker stressed the importance of seeing sustainability reporting as an opportunity to create a business advantage. Reporting helps superior companies show their quality and their investors avoid surprises. He indicated that many banks already give “green” companies lower loan rates and that overseas investors, including pension funds, coming to Singapore have already been asking about sustainability reporting.

Reporting metrics allow for improved understanding of the company and for benchmarking exercises, thereby fuelling competition. “Fear of poor numbers can’t be a reason why we don’t do reporting,” said Bocker. Greater transparency leads to increased profitability for Singapore, which has a strong reputation in governance and transparency.

SGX will be holding a one year consultation period with companies and investors, following which they will be looking to make reporting mandatory.

Paia Consulting is a leading sustainability consultancy established since 2002. We helped produce Singapore’s first GRI report and many award-winning reports. Beyond reporting, many of the companies leading sustainability locally are our clients. Drop us a note at to discuss how we can support your sustainability journey


Strategy and Reporting Services

BT reports – More companies providing sustainability reports

The Business Times, Thursday, August 1, 2013

Paia Consulting was featured in Business Times article reviewing the sustainability reporting scene. The article reported the rapid growth of sustainability reports published, and also highlighted CapitaLand’s savings from their sustainability strategy.

Read about the list of GRI reports in Singapore and Malaysia here.

Explore our site to find out more about clients we have helped, and services we offer to help your company in your sustainability journey.


Paia Consulting is a leading sustainability consultancy established since 2002. We helped produce Singapore’s first GRI report and many award-winning reports. Beyond reporting, many of the companies leading sustainability locally are our clients. Drop us a note to discuss how we may support your sustainability journey.

GRI Reports in Singapore and Malaysia

Sustainability reporting

Sustainability reporting, or corporate responsibility reporting, enables organisations to report on their environmental, social and governance information beyond the scope of traditional financial reporting. Parts of it will be familiar to organisations in Singapore and Malaysia already, such as reporting safety statistics, human resource practices and environmental management systems. Community investments are also included, but contrary to what some may think, form a small part of what sustainability or sustainability reporting is about.

Far from being a ‘feel-good’ portion of the report, these extra-financial (or sometimes referred to as non-financial) information are increasingly used by investors to assess externalities which will be reflected in stock performance in the long term. For example, a company which has strong environmental management practices is less likely to incur litigation risk and also continuously improve on operational efficiencies. A company with strong emphasis on safety and talent retention will likely incur lower hiring and training costs from lower turnover rates.


Global Reporting Initiative (GRI)

What the Global Reporting Initiative (GRI) aims to do, is to establish a framework such that organisations may report on data which is comparable – much like IFRS equivalent for financial reporting. GRI guidelines are the most established framework used. More than 5000 companies adopt GRI guidelines (GRI, 2012), including 80% of Global Fortune 250 companies (KPMG, 2011). 


Singapore and Malaysia

The number of GRI reports in Singapore and Malaysia have grown steadily over the past 5 years, with more than 5 times the number of reports today than in 2008.

In 2008, the Malaysian Stock Exchange Bursa Malaysia made it mandatory for all listed firms to disclose corporate social responsibility (CSR) information.

In 2012, Singapore Exchange (SGX) has announced an intention to move towards a comply-or-explain approach for its listed firms, following its release of a Policy Statement and Guide to Sustainability Reporting in 2010 and 2011 respectively. SGX has also organised various initiatives, including revising the Singapore Code of Corporate Governance to explicitly mention environmental and social considerations for Board and releasing an Investor Guide to Reading Sustainability Reports. Read more about SGX’s recent key initiatives here.

The following graphs aim to give a quick snapshot of the sustainability reporting scene in Singapore and Malaysia.

b2ap3_thumbnail_SG3Oct13.jpg b2ap3_thumbnail_Msia3Oct13.jpg


Below are the 23 GRI reports published in Singapore in 2012. 





Asia Pacific Breweries Limited (APBL)

2011 Sustainability Report



CapitaLand Sustainability Report 2011


City Developments Limited

CDL Sustainability Report 2012


DyStar Singapore

Sustainability Report 2011


First Resources

Towards Sustainability: First Resources Limited Sustainability Report 2011


Fuji Xerox Singapore

Fuji Xerox Singapore 2012 Singapore Report


Golden Agri-Resources Ltd

Preserving the Present Ensuring the Future: Sustainability Report 2011


Keppel Corporation

Sustainability Report 2011





Keppel T&T

Sustainability Report 2011


KPMG Singapore

Sustainability Report 2012


National Environment Agency

Sustainability Report FY11


Olam International Limited

Olam corporate responsibility and sustainabilty report 2012


Power Seraya

Corporate Accountability Report 2011


Sembcorp Industries Ltd

Sembcorp Industries Annual Report 2011


Sembcorp Marine Ltd

Annual Report 2011


Siloso Beach Resort, Sentosa

Siloso Beach Resort Sustainabilty Report 2012


Singapore Exchange (SGX)

The Asian Gateway: Singapore Exchange Annual Report 2012 July 2011 – June 2012


SingTel – Singapore Telecommunications Limited

Connecting People, Touching Lives



Annual Report 2011 (Hubbing, Achieving and Even More)


Swire Pacific Offshore

2011 Annual Report


Tuas Power

Sustainability Report 2012


Wilmar International

Staying the Course through Challenging Times

 Source: GRI Database & Paia Consulting (3 Oct 2013)


Below are the 17 GRI reports published in Malaysia in 2012. 

Paia is the appointed GRI Data Partner for Malaysia. If your report is not reflected here or the GRI Database, please email us at 





Bumi Armada

Corporate Social Responsibility Report 2011


CIMB Foundation under CIMB Group

Sustainability Report 2011



2011 Corporate Sustainability Report

4 Berhad

DiGi.Com Berhad Sustainability Report 2011 – Transforming to Deliver Internet fo


Guinness Anchor Berhad

Corporate Responsibility Report 2011


Keenway Industries Sdn. Bhd.

Sustainability Report 2011


Encorp Berhad

Sustainability Report 2011



Sustainability Report 2010/2011



Sustainabiltiy Report 2010/2011


Media Prima

Media Prima Berhad Sustainability Report 2011



Sustainability Report 2011


Plus Expressways Berhad

PLUS Expressways Sustainability Report 2011


Puncak Niaga

Expanding Horizons – Annual Report 2011


Sime Darby Berhad

Sustainability Report 2011



Sunway Sustainability Report 2011


Telekom Malaysia

Telekom Malaysia Sustainability Report 2011


UEM Environment

UEME Sustainability Report 2011

Source: GRI Database (3 Oct 2013)


Paia Consulting is a leading sustainability consultancy established since 2002. We helped produce Singapore’s first GRI report and many award-winning reports. Beyond reporting, many of the companies leading sustainability locally are our clients.

Drop us a note at to discuss how we may support your sustainability journey.

sgx investors guide

SGX launches An Investors Guide to Reading Sustainability Reports

SGX has released An Investor’s Guide to Reading Sustainability Reports and 10-minutes video featuring Ms Carrie Johnson, Director of Paia Consulting, on Understanding Sustainability from an Investor’s perspective.

A quick 6 page document, this guide seeks to help investors focus on the following:

– What is Sustainability?

– Why is it relevant?

– Why invest in companies that endorse sustainability and adopt sustainability reporting?

– Where do I find sustainability information on listed companies?

– What are some key issues to look out for and questions to ask at annual general meetings (AGMs)?

SGX to move to ‘comply or explain’ basis

On 19 Mar 2013, Singapore Exchange (SGX) announced at RI Asia 2013, the environmental, social and governance (ESG) summit that SGX will move to a “comply or explain” basis for reporting standards. 

Read more

SGX/MAS revises Code of Corporate Governance

On 2 May 2012, Singapore Exchange (SGX) & Monetary Authority of Singapore (MAS) released the new Code of Corporate Governance, which formally incorporates sustainability considerations into governance.

1.1(f) The Board’s role is to consider sustainability issues, e.g. environmental and social factors, as part of its strategic formulation.

View the full Code of Corporate Governance here

SGX launches Guidelines to Sustainability Reporting

On 27 Jun 2011, Singapore Exchange (SGX) launched Guidelines to Sustainability Reporting, following a public consultation in Aug 2010 over accountability for conducting businesses in a sustainable manner.

SGX’s Malaysia counterpart, Bursa Malaysia, has made CSR mandatory reporting for listed companies four years ago. Hong Kong is also looking at its reporting guide.

In SGX CEO Mr Magnus Bocker’s words “We will never be leaders as a global exchange, unless our companies are global leaders in the way they report, in the way they do business”.

View the full Guidelines here

SGX launches Guidelines to Sustainability Reporting

On 27 Jun 2011, Singapore Exchange (SGX) launched Guidelines to Sustainability Reporting, following a public consultation in Aug 2010 over accountability for conducting businesses in a sustainable manner.

Read more