Assurance providers such as auditors conduct independent ESG verification to ensure the accuracy, reliability, and transparency of sustainability disclosures. As ESG reporting becomes more standardised and regulated, businesses rely on assurance providers to validate their ESG data, reinforcing stakeholder trust and regulatory compliance.
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Institute of Singapore Chartered Accountants (ISCA): Sustainability Assurance Portal
Singapore Accreditation Council (SAC): ESG Assurance Schemes
Singapore Institute of
Environmental Professionals:
Professional Certification
ACRA Registered Climate
Auditors Directory: Directory
Portal
Climate Auditor Registration Scheme (effective 2025)
Singapore Standard for Assurance on Sustainability Information
Professional Conversion Programme for Sustainability Assurance
ESG Data and Ratings Code of Conduct (MAS)
Climate auditors play an important role in safeguarding the public interest through providing assurance on CRD. To protect the public interest and keep audit quality high, it is important to set registration and continuing requirements for climate auditors, both at firm and individual levels.
Following the Sustainability Reporting Advisory Committee’s (SRAC) recommendations in its July 2023 Consultation Paper and its February 2024 Response to the Public Consultation (SRAC Recommendations) climate auditors will need need to be registered with the Accounting and Corporate Regulatory Authority (ACRA) as audit firms or accredited by the Singapore Accreditation Council (SAC) as Testing, Inspection, and Certification (TIC) firms.
The ISSA 5000 is a global standard developed by the International Auditing and Assurance Standards Board (IAASB) to guide how professionals provide assurance on sustainability information.
Further to the SRAC Recommendations, Singapore will be adopting a local version called the Singapore Standard on Sustainability Assurance 5000 (SSSA 5000), aligned with the ISSA 5000.
A Singapore-specific standard allows for tailoring to local laws, regulatory expectations, and market practices, especially as Singapore moves toward mandatory climate reporting for listed and large non-listed companies, while still ensuring Singapore’s sustainability assurance practices are consistent with global standards.
The Career Conversion Programme for Sustainability Professionals (CCP-S) aims to assist companies train individuals to take on new roles or to be reskilled to take on new “green roles” and drive transformation – including roles involving sustainability assurance such as carbon accounting.
As companies adopt sustainable practices, there’s a growing need for talent in areas like carbon management, ESG reporting, and green supply chains. CCP-S helps build a pipeline of skilled professionals to fill these roles.
The Monetary Authority of Singapore (MAS) has published a Code of Conduct for ESG Rating and Data Product Providers which aims to establish baseline industry standards for transparency in methodologies and data sources, governance, and management of conflicts of interest that may compromise the reliability and independence of the products.
Building upon the International Organisation of Securities Commissions’ (IOSCO) recommendations for good practices for such providers, the Code of Conduct will enhance market confidence in the use of ESG rating and data products.
