New registry aids in accurate ESG reporting

Six in 10 firms said they need improved clarity on ESG metrics for reporting.

Singapore will establish a registry to help businesses report their carbon emissions more accurately.

Developed by the Singapore Business Federation (SBF), Agency for Science, Technology and Research (A*STAR), PwC, and Singtel, the Singapore Emission Factors Registry (SEFR) will consist of a database of emission factors tailored to Singapore’s context.

“These emission factors (EFs) act as conversion factors that translate various business activities into corresponding greenhouse gas emissions. The SEFR supports existing reporting tools and solutions in the ecosystem that help enterprises automate their sustainability reporting process,” the SBF said. 

According to SBF, most Singapore businesses make use of EFs from international sources such as the US Environmental Protection Agency (EPA) and the UK Department for Environment Food and Rural Affairs (DEFRA) for their sustainability and carbon emissions reporting, especially for Scope 3 emissions.

“The SEFR, which contains localised EFs, will help Singapore-based businesses to track and report their emissions more accurately, and in turn, empower businesses to make informed decisions on how to reduce their carbon footprint based on their environmental
Impact,” SBF said. 

SBF and its partners will develop the EFs in phases with an initial base load comprising data collected and consolidated from various government agencies ready by the end of 2024.

“This includes EFs related to transportation, water, general waste, and energy,” SBF said. 

“EFs for new categories and activities will be developed and released based on industry consultations and demand,” SBF added.