Singapore Unveils Essential Guidebook for Climate Disclosure Professionals to Enhance Skills
In an effort to bolster sustainability reporting education, Singapore has introduced a valuable new resource for training providers. The Sustainability Reporting Body of Knowledge (SR BOK) aims to align local curricula with international standards, particularly those set forth by the International Sustainability Standards Board (ISSB). This initiative comes as part of Singapore’s broader commitment to climate transparency and responsible corporate practices.
Introduction of the Sustainability Reporting Body of Knowledge (SR BOK)
On May 19, 2023, the Accounting and Corporate Regulatory Authority (Acra) unveiled the SR BOK, a comprehensive guide aimed at assisting course developers in crafting training that adheres to ISSB standards. This guide is crucial as Singapore prepares for a mandatory climate disclosure requirement for all listed companies, effective from the current financial year.
Key Features of the SR BOK
The SR BOK is designed to provide essential knowledge areas that are crucial for effective sustainability and climate reporting. Key topics outlined in the guide include:
- Greenhouse Gas Accounting
- Sustainability and Climate Reporting
- Materiality Assessments
- Climate Transition Planning
- Assurance Practices
As demand for qualified professionals in climate reporting escalates, the SR BOK serves as a foundational element in developing Singapore’s sustainability workforce.
Collaboration and Support for Training Providers
Acra emphasizes the importance of developing a robust talent pipeline to meet the increasing demand for professionals skilled in sustainability reporting. The guidebook not only ensures consistency in course quality across different institutions but also allows flexibility for training providers to tailor content to specific learning needs.
To enhance practical understanding, the SR BOK will include case studies that demonstrate real-world applications of the covered concepts. Support for the guidebook’s development has been garnered from over 50 industry stakeholders, including:
- Company preparers
- Assurance providers
- Professional bodies
- Academic institutions
Additionally, Acra is collaborating with SkillsFuture Singapore to provide funding support for training aligned with the SR BOK.
Engagement from Educational Institutions
Prominent organizations that have already committed to this initiative include:
- The Institute of Singapore Chartered Accountants
- Nanyang Technological University
- Temasek Polytechnic
Acra states, “This alignment will strengthen the development of comprehensive training programmes to build capacity in sustainability reporting, creating a strong pipeline of professionals who can prepare climate-related disclosures and bolster Singapore’s sustainability reporting ecosystem.”
For more information about sustainability reporting training, visit ACRA’s official website or explore SkillsFuture Singapore for funding opportunities.
As Singapore continues to enhance its capabilities in climate-related disclosures, the SR BOK will be pivotal in equipping professionals with the necessary skills to meet evolving stakeholder expectations.
