Understanding Climate Disclosure Regulations in Southeast Asia
Climate change is a global challenge requiring coordinated action. Let's take a closer look at how Southeast Asian countries are addressing this issue through climate disclosure regulations.
Thailand:
Thailand has made significant strides in climate disclosure, with the Securities and Exchange Commission (SEC) mandating listed companies to report their environmental impact and carbon emissions. As of 2023, over 80% of listed companies have complied, fostering transparency and accountability.
Malaysia:
Malaysia has emerged as a leader in climate reporting, with the Securities Commission Malaysia requiring all public-listed companies to disclose their environmental policies and initiatives. Notably, in 2022, Malaysia ranked 2nd in the region for sustainability reporting.
Singapore:
Singapore has been proactive in climate disclosure, with the Singapore Exchange (SGX) introducing sustainability reporting guidelines for listed companies. By 2023, over 70% of listed companies had integrated sustainability metrics into their annual reports, showcasing a commitment to transparency.
Indonesia:
Indonesia has recognized the importance of climate disclosure, with the Financial Services Authority (OJK) implementing regulations to enhance sustainability reporting among listed companies. While progress is underway, further efforts are needed to ensure widespread compliance and transparency.
Philippines:
The Philippines has taken steps towards climate disclosure, with the Securities and Exchange Commission (SEC) encouraging listed companies to include environmental and social disclosures in their annual reports. However, there is room for improvement in enforcement and standardization.
Vietnam:
Vietnam has increasingly prioritized climate disclosure, with the State Securities Commission (SSC) issuing guidelines for listed companies to report on environmental risks and sustainability practices. With growing awareness, Vietnam aims to strengthen its reporting framework in the coming years.
As the global community faces the impacts of climate change, transparent and comprehensive disclosure is crucial for informed decision-making and sustainable development. Together, let's continue advocating for robust climate disclosure regulations across Southeast Asia.
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