A new business article in the Straits Times reports that half of the finance leaders in Singapore have warned their companies are not reporting adequately on sustainability measures. Workday, the organization that ran this poll, has found that most companies are creating reports that show their environmental, social, and governance (ESG) impacts, but many are not doing a good job on these. Inadequate reporting on health and sustainability initiatives is especially important in the face of global issues such as the COVID-19 pandemic and ongoing climate change, but some company leaders have not taken enough serious steps.
Since 2017, the Singapore Exchange has required all companies to prepare annual sustainability reports. Some industries, such as manufacturing, finance, and transport, have done better with these reports than others, such as retail and tourism. A top financial leader at Workday reports that technology such as advanced data analytics and real-time monitoring could help the companies and industries that are lagging.