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Unpacking Sustainability Reporting: Part 1

A major shift in the global regulatory landscape took place on 26 June 2023 when the International Sustainability Standards Board (ISSB) unveiled its inaugural standards, IFRS S1 and IFRS S2.

These standards require companies to convey sustainability and climate-related risks so that companies and investors can align their sustainability disclosures on a global scale, mirroring practices of the International Financial Reporting Standards.

The ISSB standards build upon market-led sustainability reporting initiatives including the FSB Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board Standards, unifying them into a cohesive set of standards.

The International Organization of Securities Commissions (IOSCO) is now urging their 130 member countries, including regulators such as the Securities Commission Malaysia and the Monetary Authority of Singapore (MAS) to include ISSB Standards in their sustainability reporting regulatory frameworks.

Closer to home, the Sustainability Reporting Advisory Committee in Singapore is recommending proposals to make mandatory climate-related disclosures that are aligned with the ISSB standards.

This requirement is set to extend to both publicly listed companies (PLCs) and even large private companies, with targeted implementation dates of 2025/2027 respectively.

In 2022, Bursa Malaysia also made it mandatory for all Main Market PLCs to report climate-related disclosures, aligning with the guidelines set by the TCFD by 2025.

These actions underline the region's commitment to enhancing transparency and responsibility concerning environmental challenges.

As an impact private equity firm, Bintang Capital Partners strongly supports the global movement for enhanced sustainability reporting practices, and have committed ourselves to reporting as part of our participation in the following:

United Nations Principles for Responsible Investment: Signatories annually report responsible investment activities to the UN PRI via their reporting system.

Operating Principles for Impact Management: Signatories must publish an annual disclosure statement comparing their impact management systems with the 9 Impact Principles, reinforced by independent verification of such alignment.

Bintang’s commitment is underscored by making B Corp certification compulsory for all portfolio companies.

B Corp certification helps us independently assess our portfolio companies’ performance across five key impact areas – Employees, Community, Customers, Governance, and the Environment – via the B Impact Assessment which parallels sustainability-reporting standards such as the Global Reporting Initiative.

We're excited to present Part 1 of a 3-part series on sustainability reporting, designed to expand on key concepts around sustainability reporting.

In Part 1 of this series, we unpack the often-misunderstood distinction between "Net Zero" vs "Carbon Neutral". Please read our article here.


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