News Formal

Singapore Experts Recommend Sustainability Measures for Manufacturing Companies

  • 📰 SBRMagazine
  • ⏱ Reading Time:
  • 33 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 40%
  • Publisher: 51%

Business News

Singapore,Sustainability,Manufacturing Companies

The Institute of Singapore Chartered Accountants (ISCA), Singapore Manufacturing Federation (SMF), Deloitte, and Singapore Management University (SMU) have listed five recommendations for manufacturing companies to accelerate their sustainability transformation. Creating a Chief Financial and Sustainability Officer (CFSO) position and integrating sustainability into operations are among the suggestions.

In Singapore, only 37% of companies have implemented sustainability initiatives. The Institute of Singapore Chartered Accountants (ISCA), Singapore Manufacturing Federation (SMF), Deloitte, and Singapore Management University (SMU) have listed five recommendations for manufacturing companies to accelerate their sustainability transformation.

To further drive sustainability transformation, the experts recommended that manufacturing companies create a C-suite position for the Chief Financial and Sustainability Officer (CFSO). "A CFSO can help translate sustainability measurements and data into the financial bottom line," said the experts in a report. Manufacturing companies should also integrate sustainability considerations into current operations. Doing so will ensure that sustainability initiatives and business strategies are aligned. Third, experts advised companies to leverage international and/or local communities of practice to stay informed on sustainability matter

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Listed companies show improvement in sustainability reporting, but lack climate-related disclosuresA biennial study conducted by the Singapore Exchange Regulation (SGX RegCo) and the Centre for Governance and Sustainability at the National University of Singapore Business School reveals that listed companies have improved in their sustainability reporting. However, the study also highlights the lack of climate-related disclosures, including climate transition plans. The average score for sustainability reporting in 2023 increased to 75 out of 100, but dropped when climate-related disclosures were included in the scorecard. Out of the 535 SGX-listed firms that published sustainability reports, 73% provided climate-related disclosures according to the Task Force on Climate-related Financial Disclosures (TCFD) framework.
Source: straits_times - 🏆 5. / 69 Read more »