Tuesday, May 30, 2023 (8:15 AM - 10:00 AM) (GMT+8)Add to Calendar
260 Orchard Road
#07-01/04 The Heeren
As Singapore moves towards increased accountability when it comes to sustainable business practices, we will, among other things, see extended legislation around sustainability management accounting being rolled out near term. As an example, Singapore Exchange (SGX) introduced sustainability reporting on a 'comply-or-explain' basis to its listing rules already in June 2016. Internationally, ISSB is responsible for developing IFRS Sustainability Disclosure Standards, and they are moving their agenda towards a global baseline for mandatory sustainability reporting at a fast pace. Although it is not yet clear how fast these new standards will become mandatory, enterprises in Singapore can expect to be challenged by many new requirements around sustainability and climate-related standards over the coming years.
As a result of this, we will not only see regulators, but also investors, customers, and other stakeholders starting to put increased pressure on corporates in Singapore to comply with making environmental, social and governance (ESG)-related disclosures going forward. Sustainability data is becoming crucial to understand how a company is performing, and, to make it work, a management team needs data-driven insights in order to make informed decision-making and to meet stakeholders' expectations.
Data-driven sustainability means collecting and using data to make decisions that guide measurable and responsible business practices. For SMEs, this can be a particularly daunting task. How do you measure performance from the perspective of sustainability? How do you connect your ESG performance with your operational and financial outcome? Where do you even start?
To help us answer the questions above, we have invited Anna HåkanssonandRadhika Chavan from SwedCham Member Tulya to introduce us to sustainability management accounting, which is the practice of measuring, analysing and reporting a company's social and environmental impact. Tulya help SMEs integrate sustainability into their business strategy and operations, focusing on the impact of environmental and social aspects on the organisation's ability to create value. During this knowledge session, we will unpack the following:
Together with Tulya, we can look forward to a highly interactive session, where SwedCham's SMEs can learn more about this highly relevant topic and also have time to discuss what impact it will have on everyone's business in terms of process management and performance.