What is the Sustainability Reporting Grant?
The Sustainability Reporting Grant (SRG) helps Singapore-incorporated companies prepare their first sustainability report incorporating International Sustainability Standards Board (ISSB)-based climate-related disclosures before mandatory compliance timelines take effect.
The grant covers up to 30% of qualifying costs, capped at S$150,000, for activities directly related to producing your first ISSB-compliant sustainability report.
Who is SRG for?
- Singapore-listed companies (regardless of size) before mandatory compliance deadline
- Singapore-incorporated companies with annual revenue of at least S$100 million before mandatory compliance deadline
- Businesses requiring assistance with sustainability report preparation and assurance
- Companies transitioning to ISSB standards for climate-related disclosures
Eligibility
To be eligible for SRG, your company must meet all of the following criteria:
- Singapore-incorporated business entity
- Either: Listed on Singapore Stock Exchange (SGX) OR annual revenue of at least S$100 million
- Preparing your first ISSB-based climate-related disclosure sustainability report
- Not yet reached your mandatory compliance timeline for climate-related disclosures
- Not already published a sustainability report with ISSB-based climate-related disclosures
Not Eligible
The following are not covered:
- STI Constituents: STI-constituent companies are no longer eligible for the SRG
- Non-listed companies whose parent company already reports climate-related disclosures using ISSB-based local reporting standards or equivalent standards (such as European Sustainability Reporting Standards - ESRS), and the NLCo’s activities are included in that parent’s report which is available for public use
- Companies that have already reached mandatory compliance timeline
- Companies that have already published ISSB-compliant sustainability reports
- Projects that commenced before application submission (unless otherwise advised by EnterpriseSG). Projects are considered to have commenced if any of the following took place before the application date:
- Work has started
- Payment has been made to a third-party who is part of the application
- Contractual agreement(s) have been signed with a third party who is part of the application
Eligible Costs
SRG supports the following qualifying costs:
- External consultancy costs - Fees for sustainability consulting and report development
- External assurance costs - Costs for independent verification/assurance of the report
- Note: Assurance providers must be either (i) audit firms registered with ACRA, or (ii) Testing, Inspection and Certification firms accredited by Singapore Accreditation Council (SAC)
- Equipment and software - Tools required for sustainability data collection and reporting
- Manpower training - Training for permanent or contract employees on ISSB standards and sustainability reporting
There are no pre-approved vendors for the SRG. However, for Assurance Providers specifically, they must meet the ACRA or SAC accreditation requirements above.
How SRG Works
1. Application Requirements
To apply for SRG, you must provide:
- Financial statements:
- Listed companies (ListCos): Audited financial statements for the company’s last fiscal year
- Non-listed companies (NLCos): Certified management accounts for the last 2 fiscal years immediately preceding the reporting fiscal year
- Consultant/vendor quotations with detailed cost breakdown by project scope, project phases and description
- Training proposal details showing employee participation and respective employment status
- Equipment/software specifications with cost breakdown (purchase price, installation cost, lease or subscription period)
Important: EnterpriseSG processes applications from companies with at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by ultimate individual ownership. Companies with less than 30% local equity should contact the Economic Development Board (EDB) to submit a formal application.
Note: Companies must apply individually. Group applications (two or more companies listed as applicants in one application form) are not allowed.
2. Eligible Report Scope
Your sustainability report must:
- Be your company’s first sustainability report incorporating ISSB standards
- Include IFRS S1 (General Requirements) and IFRS S2 (Climate-related Disclosures)
- Be prepared before your mandatory compliance deadline
- Cover climate-relevant sustainability metrics
3. Claims Process
Important: As all SRG claims are subjected to audit, you are required to engage an external Auditor for audit verification as per instructions included in the Letter of Offer first, before submitting the claim.
After project completion and audit verification, submit proof of payment including:
- First sustainability report in accordance with ISSB standards (for supportable fiscal year prior to mandatory compliance timeline stipulated by SGX/ACRA)
- Bank statements and receipts
- Delivery orders and invoices
- Proof of consultant payments
- Employee training attendance records
- Contracts with consultancies and assurance providers
- Employment contracts demonstrating trained staff are permanent or contract employees
Common Pitfalls to Avoid
- Already published reports: Cannot claim if you’ve already published an ISSB-compliant sustainability report
- Project commencement: Do not start consultancy work or make payments before application approval
- Non-permanent staff: Training costs only cover permanent or contract employees, not freelancers
- Exceeding cap: Costs exceeding S$150,000 are not covered; plan accordingly
- Wrong timeline: Ensure you haven’t reached your mandatory compliance deadline yet
Timeline and Mandatory Compliance
Different company categories have different mandatory compliance timelines for climate-related disclosures. The table below shows eligibility periods and application deadlines for SRG:
| Category | Mandatory Compliance Timeline | 1st Sustainability Reports Eligible for SRG | Application Deadline |
|---|---|---|---|
| SGX-Listed Companies (ListCos) | |||
| STI Constituents (Note: STI-constituent companies are no longer eligible for the SRG) | From FY2025 | For FY commencing between 1 January 2024 – 31 December 2024 | 31 May 2025 |
| Non-STI Constituents with >S$1B market cap | From FY2028 | For FY commencing between 1 January 2024 – 31 December 2027 | 31 Jan 2028 |
| All other listed companies | From FY2030 | For FY commencing between 1 January 2024 – 31 December 2029 | 31 Jan 2030 |
| Non-Listed Companies (NLCos) | |||
| Large Non-Listed Companies (Total annual revenue ≥S$1 billion and total assets ≥S$500M) | From FY2030 | For FY commencing between 1 January 2024 – 31 December 2029 | 31 Jan 2030 |
| Other Non-Listed Companies (i) Total annual revenue ≥S$1 billion and total assets under S$500M, or (ii) Total annual revenue between S$100 million and under S$1 billion | Not specified | For FY commencing between 1 January 2024 – 31 December 2029 | 31 Jan 2030 |
SRG is available to companies before reaching their category-specific compliance timeline. Each company is limited to only one application for the first sustainability report incorporating ISSB-based CRDs.
Important Notes
- SRG is a co-funding scheme - you must contribute at least 70% of costs
- Maximum grant support is 30% of eligible costs or S$150,000, whichever is lower
- Equipment and software can be purchased, leased, or accessed via subscription
- Training can cover multiple employees with documentation of each participant
Worked Example
Scenario: Your listed company prepares its first sustainability report.
| Cost Item | Amount |
|---|---|
| ESG consultancy fees | S$80,000 |
| Data collection and assurance | S$45,000 |
| Report design and publication | S$25,000 |
| Total cost | S$150,000 |
| SRG funding (30%) | S$45,000 |
| Your co-payment | S$105,000 |
Note: SRG provides 30% co-funding of eligible costs. For your first sustainability report, the grant is capped at S$150,000 (meaning maximum grant payout of S$45,000 on S$150,000 of costs, or 30% of actual costs if lower). For subsequent reports, the cap is S$100,000. The report must incorporate ISSB-based climate-related disclosures and be completed before your mandatory compliance deadline.
Frequently Asked Questions
When should I apply for SRG?
Apply as early as possible, ideally 6-12 months before your mandatory compliance deadline, to allow sufficient time for report development and assurance.
Can I claim training costs for external participants?
No. Training must be for permanent or contract employees of your company. External consultants and freelancers do not qualify.
What if my company hasn’t reached mandatory compliance yet but is planning ahead?
You can apply for SRG if you meet all eligibility criteria, even if your mandatory compliance deadline is still several years away.
Can I use the grant retroactively?
No. You must apply before commencing the project. Projects that have started or payments made before application will be rejected as retrospective.
Related Guides
- Grant Pitfalls Guide - Common mistakes to avoid when applying for sustainability grants
- Singapore Grants Glossary - Key terms and definitions
- First-Time Grant Application Checklist - Complete preparation for your first sustainability grant
- EEG vs PSG: Sustainability vs Productivity - Compare sustainability and productivity grants
Related Schemes
Looking for similar funding options? These schemes complement this grant or offer alternative pathways:
- Energy Efficiency Grant (EEG) - Energy efficiency and sustainability support
- Enterprise Development Grant (EDG) - Sustainability and innovation projects
- Corppass Setup Guide — how to set up BGP access
References
Official Resources
- Sustainability Reporting Grant - Enterprise Singapore - Official grant page
- ISSB Standards - IFRS Foundation - International Sustainability Standards Board documentation
- Business Grants Portal - Apply for SRG
- Corppass - Access Business Grants Portal