SRG Checklist: First ISSB Sustainability Report

Get your Sustainability Reporting Grant application right the first time. This checklist covers eligibility requirements, compliance timelines, required documents, and the claims process for funding up to S$150,000.

Who Is Eligible for SRG?

Answer these questions before proceeding:

All boxes checked? Proceed to check your compliance timeline.

What Are the Compliance Timelines?

Your eligibility window depends on your company type. Apply before your mandatory compliance deadline.

SGX-Listed Companies

Note: STI-constituent companies are no longer eligible for SRG. Their mandatory compliance began FY2025.

Non-Listed Companies

What Costs Are Eligible?

SRG covers up to 30% of the following costs, capped at S$150,000 total:

External Consultancy Costs

• Sustainability consulting fees
• ISSB implementation support
• Gap analysis and roadmap development
• Data collection and reporting systems setup

Documents required:

• Consultant quotations with fee breakdown by project scope and phases
• Contract with project deliverables
• Proof of payment (bank statements and receipts)

External Assurance Costs

• Third-party assurance of sustainability report
• Limited or reasonable assurance engagement

Assurance provider requirements:

• Audit firms registered with ACRA, OR
• Testing, Inspection and Certification (TIC) firms accredited by Singapore Accreditation Council (SAC)

Documents required:

• Contract with assurance provider
• Proof of payment (bank statements and receipts)

Equipment and Software

• Sustainability reporting software
• Data management tools
• Carbon accounting systems

Documents required:

• Quotation with cost breakdown (purchase price, installation, lease/subscription period)
• Delivery order stating delivery date
• Invoice and proof of payment
• For hire purchase: Contract with repayment schedule and proof of at least 1 instalment payment

Manpower Training

• Sustainability reporting training courses
• ISSB standards training
• Climate disclosure workshops

Important: Only permanent or contract employees of the company qualify. Freelancers and contractors do not qualify.

Documents required:

• Training course provider and outline
• Names of employees and proof of attendance
• Employment contracts proving permanent/contract status
• Proof of payment (bank statements and receipts)

How Do I Apply for SRG?

Step 1: Prepare Application Documents

Step 2: Submit Application on BGP

1. Log in to Business Grants Portal using Corppass
2. Search for “Sustainability Reporting Grant”
3. Complete application form with project details
4. Upload all required documents
5. Submit application

Local equity routing:

• Companies with at least 30% local equity: EnterpriseSG processes your application
• Companies with less than 30% local equity: Contact EDB to submit application

Step 3: Receive Letter of Offer

Upon approval, your Letter of Offer will specify:

• Project Qualifying Period (complete project within this window)
• Project Deliverables (all must be achieved for claim)
• Grant amount approved

Important: Do not start your project before receiving approval. Projects commenced before application submission are not eligible.

How Do I Claim the Grant?

All SRG claims are subject to audit. Follow these steps after completing your project:

Step 1: Complete Project Deliverables

• Publish your first sustainability report with ISSB-based climate disclosures
• Complete all activities specified in Letter of Offer
• Ensure report covers a fiscal year within your eligible FY range

Step 2: Engage External Auditor

• Engage an auditor as per instructions in your Letter of Offer
• Auditor verifies project completion and eligible expenses
• This is mandatory for all SRG claims

Step 3: Prepare Claim Documents

Step 4: Submit Claim on BGP

Submit your claim through Business Grants Portal with all supporting documents after audit verification is complete.

What Are the Key Restrictions?

Application Restrictions

• One application limit: Each company can only apply once for SRG
• No group applications: Companies must apply individually
• No retrospective applications: Projects must not have commenced before application

Exclusions

Local Equity Requirement

• At least 30% local equity held by Singaporeans and/or PRs
• Determined by ultimate individual ownership
• Companies below 30% must contact EDB (not EnterpriseSG) to apply

What Is ISSB-Based Climate Disclosure?

The SRG requires your report to incorporate ISSB-based Climate-Related Disclosures (CRDs), which comprise:

1. IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information (climate-relevant provisions)
2. IFRS S2: Climate-related Disclosures

For detailed ISSB standards information, refer to the International Financial Reporting Standards (IFRS) Foundation.

Common Pitfalls to Avoid

Eligibility Mistakes

• Applying after mandatory compliance: Check your company type and deadline in the timeline tables above
• STI constituent confusion: STI companies are no longer eligible regardless of timeline
• Parent company reporting: If your parent already reports your activities under equivalent standards, you are excluded

Application Errors

• Starting work before approval: Ensure no contracts signed or payments made before application submission
• Group applications: Each company must apply separately
• Multiple applications: You can only apply once for your first ISSB report

Documentation Failures

• Missing employment proof for training: Only permanent/contract employees qualify, must prove status
• Inadequate cost breakdown: Quotations must detail scope, phases, and descriptions
• Non-qualifying assurance providers: Ensure ACRA registration or SAC accreditation

Claims Process

• Skipping audit: All claims require external audit verification - factor this into your timeline and budget
• Incomplete deliverables: All project deliverables in Letter of Offer must be achieved

Related Guides

• Sustainability Reporting Grant - Full scheme details and eligibility
• Corppass Setup Guide - Required for BGP application
• Grant Pitfalls Guide - Common mistakes to avoid
• Singapore Grants Glossary — key terms and definitions

Official Links

• EnterpriseSG SRG Overview - Official scheme page
• Business Grants Portal - Apply for SRG
• IFRS Sustainability Standards - ISSB standards reference
• ACRA - Verify audit firm registration
• Singapore Accreditation Council - Verify TIC firm accreditation