Sustainability Reporting in Singapore 2010-2011

Sustainability
Reporting in Singapore
Non-Financial Reporting Among Mainboard
Listed Companies in Singapore:
A View of the Sustainability Reporting
Landscape in 2010-2011
Singapore
The Singapore Compact is initiated by the National Tripartite Initiative on CSR:
Singapore Compact For Corp

10 Hoe Chiang
Keppel T
Singapore
DID: 6827-6825
www.csrsing
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Thisreportwaspreparedby
and Publications
ThomasTHOMAS ExecutiveDirector
SingaporeCompactforCSR
HuilinCHIN
SeniorExecutive,ResearchandPublications
SingaporeCompactforCSR
SpecialThankstoResearchAssistants:
CHINHuishan
CharleneTANXueMei
JamesYEOMingHan
ute
of
Certified
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for
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Public
research pro
SingaporeCompactwouldliketothanktheInstituteofCertifiedPublicAccountantsof
Singaporefortheirsupport
inprovidingaplatformtodisseminate
thisresearchproject.
for
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d
on
titioners.
While
every
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g to Theinformationcontainedinthispublicationisprovidedforgeneralpurposesonlyandpublishedingoodfaith
the press, its contents
forthebenefitofSingaporeanorganizationsandbusinesspractitioners.Whileeveryefforthasbeenmadeto
ompact
for
CSR
accepts
no
ensurethattheinformationisaccurateanduptodateatthetimeofgoingtothepress, itscontentsarefor
part general
of
this publication may
guidance only and does not aim to be comprehensive or exhaustive. Singapore Compact for CSR
Singapore
Compact.
acceptsnoresponsibilityforanylosswhichmayarisefrominformationcontainedinthispublication.Nopart
ofthispublicationmaybereproduced,inanyformat,withoutpriorwrittenpermissionofSingaporeCompact
forCSR.SingaporeCompact.
necessarily
reflect the view
TheanalysisandrecommendationsofthisreportdonotnecessarilyreflecttheviewsofSingaporeCompact,
itsmanagementcommitteeormembers.
mpanies
010
in
Singapore:
EXECUTIVE SUMMARY
Singapore Compact for CSR embarked on this research project to find out more about the state of voluntary
sustainability reporting among mainboard-listed companies in Singapore. While the sustainability reporting
scene in Singapore is very new compared to various other economies, there has been considerable growth in
reporting and awareness. The latest development came at the end of June 2011, when the Singapore Exchange,
following the example of a number of similar institutions around the world, showed clear encouragement for
non-financial reporting practices through the release of the Guidelines for Sustainability Reporting.
This project placed an emphasis on a broad understanding of existing practices, given that sustainability
reporting has made significant steps towards visibility but remains in the early stages. As far as possible
we
Singapore
strove to give companies credit where it was due, recognizing efforts to include details on non-financial
practices even if there was sometimes a lack of assessment or depth.
Singapore Compact For Corpor

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Results of the study show that of the 562 companies listed on the SGX mainboard at the end of 2010, only 79
This
report was prepared by
had some merest form of reporting, with only a large handful of reports approaching comprehensiveness.
Nonetheless,
this signified
an increase
from the previous year. Of this 79, a significant majority of the reports
Thomas
THOMAS
Executive
Director
came from large enterprises,
even
thoughfor
they
Singapore
Compact
CSRmade up the smallest group of companies by market
capitalization. The agriculture and transport, storage and communication sectors had the highest rate of
reporting
in general, whereas
the serviceResearch
and construction
industries had the lowest. The higher rate of
Huilin CHIN
Senior Executive,
and Publications
Compact
forofCSRissues faced by agriculture and transport, storage and
reporting may be dueSingapore
to the broad
range
communication companies, and the heightened visibility of issues such as climate change and technological
Special Thanks
to directly
Research
Assistants:
innovations,
which
affect
these two sectors. On the other hand, the comparison between the connected
CHIN
Huishan
property and construction sectors highlights the fact that property developers lead in sustainability reporting,
TANCity
XueDevelopments
Mei
with companies such asCharlene
Capitaland,
Limited and Keppel Land having been recognized for
James
YEO
Ming
Han
Thomas
THOMASpractices
Executive
Director
their reporting
in recent
years. The practice, however, seems not to have spread to other players in
related industries. Singapore Compact for CSR
This report was prepared by
Accountants of Singap
The area with the highest scores and greatest depth of reporting by far was Governance, mostly likely because
oject.
Singapore
Compactrequirement
would like to
the
Institute of
Accountants
Singapore
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of the
mandatory
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listed
companies
to Certified
disclose Public
compliance
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of Corporate
Huilin
CHIN
Senior Executive,
Research
and Publications
in providing
platformthat
to disseminate
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their
supportThis
Governance.
in turn asuggests
government,for
institutional
andproject.
investor involvement is likely to be
nly
and
published
in
good
Singapore
Compact
for
CSR
effective at setting minimal levels of reporting for listed companies. The Environment and Labour categories
ort
has
been
made
to
ens
The
information
contained
in this publication
is that
provided
for
general purposes
only and economic
published in
good faith forand
the
tended
to
be
the
least
reported,
suggesting
most
companies
still
emphasize
considerations
s are
for general guidance o
benefit of Singaporean organizations and business practitioners. While every effort has been made to ensure that the
community
volunteerism.
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same
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the rates
for for
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information
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maytonot
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that companies
internal
rather labour
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y be
reproduced,
any
not
be
comprehensive
or exhaustive.
Singaporeneglect
Compact
for CSRstakeholders;
accepts no in
responsibility
for any
lossmay
which
CHIN
Huishan
arise
from
information
contained
in
this
publication.
No
part
of
this
publication
may
be
reproduced,
in
any
format,
without
ingrained that they might not be seen as part of the new idea of sustainability.
Charlene TAN Xue Mei
prior written permission of Singapore Compact for CSR. Singapore Compact.
Out of theSingapore
79 reports, most of the more comprehensive examples
followed the Global Reporting Initiative (GRI)
of
Compact,
The
analysis
and
recommendations
of
this
report
do
not
necessarily
reflect
of Singapore
Compact,
its
James
YEO
Ming
Han
framework (about 14%), with just over half that number referencing the
theviews
United
Nations Global
Compact
(UNGC)
management committee or members.
principles as a framework of sorts. This suggests that adopting established frameworks may be an effective
guide to a systematic internal assessment and detailed reporting of sustainability practices.
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
to thank the Institute of Certified Public Accountants of Singapore for
Non-Financial Reporting Among Mainboard Listed Companies in Singapore:
Non-Financial
providing a Reporting
platform toLandscape
disseminate
for this research project.
their
support
A View
View
of thein
Sustainability
in 2010
A
it
Contents
1
INTRODUCTION TO SUSTAINABILITY REPORTING ..............................................................................................3

1.1
Importance and Advantages of Sustainability Reporting ...........................................................................3
PROJECT OBJECTIVE AND RATIONALE ................................................................................................................4
RESEARCH PROCESS............................................................................................................................................5
Singapore
3.1
Project Scope ..............................................................................................................................................5
3.2
Definitions and Assumptions ......................................................................................................................6

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
4 OVERVIEW
OF SUSTAINABILITY
This
report was
prepared byREPORTING (SR) LANDSCAPE ..........................................................................7
5 COMMUNICATING AND ASSURING SUSTAINABILITY REPORTS .........................................................................9

h and
Thomas THOMAS Publications
Executive Director
5.1
Report
Structure
and Assurance
.............................................................................................................
10
R
Singapore
Compact
for CSR
6
ASSESSMENT OF SUSTAINABILITY REPORTS.................................................................................................... 11
Huilin CHIN
Senior Executive, Research and Publications

Singapore Compact for CSR
6.1
Governance (Gov) Indicators ................................................................................................................... 12
6.2
Environment (Env) Indicators .................................................................................................................. 13
6.4
Economic (Econ) Indicators ..................................................................................................................... 15
Thanks
Research
Assistants:
6.3
Labour
and Practices
ThisSpecial
report
wastoRights
prepared
by (LR&P) Indicators........................................................................................ 14
CHIN Huishan
6.5 THOMAS
Community Executive
and
Society
(C&S)
Indicators
James
YEO
Ming
Han ................................................................................................ 16
Thomas
Director
6.6
Sector Highlights
and Comparisons
.........................................................................................................
17
Singapore
Compact for
CSR
Accountants
ute of Certified
of Public
Singap
7 NOTABLE EXAMPLES........................................................................................................................................ 21
oject.
te for this research pro
Singapore
would
like to
thank the
Institute of Certified Public Accountants of Singapore for 25
8 CONCLUSIONS
FUTURE
OUTLOOK
..........................................................................................................
Huilin
CHIN CompactAND
Senior
Executive,
Research
and Publications
their support in providing a platform to disseminate for this research project.
nly
d
for
published
purposes
in
good
9 and
APPENDICESgeneral
.....................................................................................................................................................
28 on
Singapore
Compact for CSR
ort
titioners.
has
been
While
made
every
to effo
ens
The information contained in this publication is provided for general purposes only and published in good faith for the
g
are
to
the
for general
press, its
guidance
contents
o
o
ompact
responsibility
for
CSR
for
accepts
any
los
no
information
is accurate
and up Assistants:
to date at the time of going to the press, its contents are for general guidance only and does
Special
Thanks
to Research
part
y be
this
publication
in
any
may
for
not aim of
toreproduced,
be comprehensive
or exhaustive. Singapore
Compact for CSR accepts no
responsibility
for any loss which
may
CHIN Huishan
arise from information contained
in this publication.
No part of this publication may be reproduced, in any format, without
Singapore
Compact.

The analysis and recommendations
this report
James YEOofMing
Han do not necessarily reflect the views of Singapore Compact, its
necessarily
s of Singapore
reflect
Compact,
the view
its
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
mpanies in Singapore:
disseminate
their
support
A View
View
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Sustainability
in 2010
A
010
Page
1 INTRODUCTION TO SUSTAINABILITY REPORTING

Sustainability reporting (SR) is the practice of measuring, analysing and disclosing information on non financial
aspects of a companys performance and operations. Sometimes used interchangeably with corporate social
responsibility (CSR) reporting, the broad areas of disclosure include governance, environment, human and
labour rights, economic factors and local communities and society. The purpose of a sustainability report is to
present a balanced representation of the reporting companys performance and management practices beyond
the financial, thereby providing stakeholders with a clear and fuller understanding of its strategy and ability to
maintain and improve its performance into the future.
Singapore
The importance of sustainability reporting has grown significantly over the last ten years, indicated by an

increasing number of companies releasing sustainable reports alongside, or integrated within, their annual
10 Hoe Chiang R
This
report was prepared by
reports. Based on figures from the
Global Reporting Initiative (GRI), the number of reports since 2000 has
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
increasedTHOMAS
by over 30 times
or 3000%
globally, with a 22% increase in 2009-2010 alone1. The basis of this trend is
Thomas
Executive
Director
Singapore
forrely
CSRsolely on their financial resources and success to sustain
the realisation that companies
canCompact
no longer
themselves
run. Increasing
awareness,
depleting natural resources, a companys
Huilin CHINin the longSenior
Executive, stakeholder
Research and
Publications
Singapore
Compact
for CSR
reputation in environmental
and social
aspects
and the importance of and competition for skills and talent
contribute to the global rise in sustainability reporting. There have also been indications in various economies
Special
Thanks
Research Assistants:
This
report
wastoprepared
by
that the demand for greater
and better integrated business practices in the wake of the financial
CHINaccountability
Huishan
TAN Xue
Mei
crises is likely to spark a Charlene
rise in voluntary
sustainability
reporting. 2,3
Thomas THOMAS
James YEO
Ming Han
Executive
Director
pore
Accountants
for
of
Singap
1.1 Importance and Advantages of Sustainability Reporting

oject.
Singapore Compact would like to thank the Institute of Certified Public Accountants of Singapore for
Huilin
CHIN
to disseminate
this research
project.transparency and accountability
their
support in providing
The fundamental
objective a
ofplatform
sustainability
reporting isfor
to increase
a companys
nly
faith
and
for
published
the
in
good
Singapore
Compact
for CSR
to stakeholders.
This improves
stakeholder
communication
and engagement which would
lead to the
ort
sure
has
that
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the
made
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s
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and
for
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o
development
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and assurance,
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organizations
and business
Whilewhile
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ss
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mechanismreproduced,
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sustainability
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y be
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responsibility any
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1
it
Rebuild. Report. Retrieved September 23, 2011.

http://www.amsterdamgriconference.org/2010_GRI_Global_Conference_Executive_Briefing.pdf
3
Jackie Nevill (2010). Cleaning up after the crisis. Retrieved September 22, 2011.
http://www.yourbuilding.org/Article/NewsDetail.aspx?p=83&mid=1642
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
their
support
A View
View
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in 2010
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Page
s
s
CHIN Huishan
Global Reporting Initiative Report Services (2010). GRI Sustainability Reporting Statistics. Retrieved August 28, 2011.
of
Singapore
Compact,
http://www.globalreporting.org/NR/rdonlyres/EDEB16A0-34EC-422F-8C17-57BA6E635812/0/GRIReportingStats.pdf
ofMing
this report
do not necessarily reflect the views of Singapore Compact, its
James
YEO
Han
Global Reporting Initiative (2010). Executive Brief: The Amsterdam Global Conference on Sustainability and Transparency: Rethink.
arise from information contained in this publication. No part of this publication may be reproduced, in any format, without
practices as a means to improve their reputation and image. Furthermore, by reporting on non-financial aspects,
companies will need to carry out a holistic evaluation of its performance and process, thus achieving better
internal understanding of otherwise overlooked areas in relation to core business. This will in turn enable them
to establish better corporate governance and improve their internal processes.
2 PROJECT OBJECTIVE AND RATIONALE

Singapore
Although sustainability reporting has been made mandatory by bourses in several other countries such as
Malaysia, companies listed in Singapore are not legally obligated to issue such reports. However, the release
of
This
report
was prepared
by
the Policy
Statement
on Sustainability
Reporting by the Singapore Stock Exchange (SGX) underscores the
increasing emphasis on holistic disclosure of listed companies in Singapore.

h and
Executive Director
R
10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
The aim of this research project is to gain an insight into the current sustainability reporting landscape in
Huilin CHIN
Executive,
Researchthe
and
Publications
Singapore.
The primary Senior
objective
is to understand
existing
practices and extent of voluntary disclosure of
non-financial reporting in order to obtain an accurate idea of the current standards and level of reporting among
companies
in Singapore,
as well
as the focus areas of reporting for the different sectors.
Special
Thanks
Research
Assistants:
This
report
wastoprepared
by
CHIN Huishan
The secondary
objective is to identify the gaps between current and expected standards which will need to be filled when

James YEO
Ming Han
Executive
Director
implementing or improving sustainability reporting. This would enable professionals and policy developers to
Thomas THOMAS
gauge the direction in which sustainability reporting is headed and understand the requirements of reporting.
Accountants
ute of Certified
of Public
Singap
oject.
Huilin
CHIN
nly
d
for
and
general
published
purposes
in
good
on
Singapore
Compact for CSR
ort
titioners.
has
been
While
made
every
to effo
ens
g
are
to
the
for general
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guidance
contents
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ompact
responsibility
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for
accepts
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no
information
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and up Assistants:
Special
Thanks
to Research
part
y be
this
publication
in
any
may
for
not aim of
toreproduced,
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responsibility
for any loss which
may
CHIN Huishan
Singapore
Compact.

this report
James YEOofMing
necessarily
s of Singapore
reflect
Compact,
the view
its
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
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disseminate
their
support
A View
View
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Sustainability
in 2010
A
010
Page
3 RESEARCH PROCESS
PHASE 1: Overview of the Sustainability Reporting Landscape
Determining the number of companies that report on their sustainability
practices
Breakdown by market capitalisation and sector
PHASE 2A: Different Approaches to Sustainability Reporting

Modes of communication--i.e. integrated or separate
Report structure and frameworks used - i.e. GRI, UNGC, own framework
External verification and assurance or auditing
Singapore
PHASE 2B: Assesment of Sustainability Reports

Assessing the reports' content and level of detail and disclosure based on
This report wasquantitative

preparedframework
by
for qualitative assessment (See Appendix 1 for
framework)

10 Hoe Chiang R
Keppel Tow
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DID: 6827-6825 F
www.csrsinga
Thomas THOMAS Analysis

Executive
Director
by different
reporting category and sector
3.1
Project
Huilin
CHIN Scope

The research was restricted to the 562 companies listed on the SGX mainboard in December 2010. The Catalist
Special
ResearchTrust
Assistants:
and
RealThanks
Estate
This
report
wastoInvestment
prepared
by (REIT) list, as well as unlisted companies, were excluded so as to maintain
CHIN Huishan
focus on the potential changes

in TAN
the sustainability
Charlene
Xue Mei reporting scene in Singapore, which is most likely to be led
James
YEO
Ming
Thomas
THOMAS
Director
and best
reflected by Executive
the
mainboard
listedHan
companies. Excluding the REITS list in this study also ensured focus
on parent companies and
a more Compact
accurate picture,
investment securities and trusts.
Singapore
for CSRrather than specificof
pore
Accountants
for
Singap
oject.
For the purpose of this study, the latest sustainability reports as at June 2011, which consisted mostly of
Singapore
Compact would like to thank the Institute of Certified Public Accountants of Singapore for
Huilin
CHIN
2009/10 reports

nly
faith
and
for
published
the
in
good
Singapore
Compact
for CSR
Considering that the basis of sustainability reporting is a disclosure to a broad group of stakeholders, only
and a handful
of 2010/2011
reports,
were
used for
the most up-to-date information.
a platform
to disseminate
for this
research
project.
their support in providing
ort
sure
has
that
been
the made
to
ens
s
only
are
and
for
general
does
guidance o
externally
available,
and
not internally
reports were
included.
benefit
of Singaporean
organizations
and circulated,
business practitioners.
While
every effort has been made to ensure that the
ss
o Special
responsibility
which
may
for
any
information
is accurate
and up Assistants:
to date at the time of going to the press, its contents
are for general guidance
only and does lo
Thanks
to Research
rmat,
y be
reproduced,
without
in
any
not
to be
comprehensive
or exhaustive.
for CSR
accepts no
responsibility
for any loss
which that
may for
Theaim
assessment
of the reports
followedSingapore
a generalCompact
framework
applicable
across
all companies
implying
it
sector.
management
committee or members.
Page
s
s
CHIN Huishan
of
Singapore
Compact,
system and
sector analysis in phase 2b will highlight the significant
differences in reporting practices for each
this report
views of Singapore Compact, its
James YEOofMing
Han do not necessarily reflect the
weightings
on of
sector-specific
requirements
and practices
were not considered. However, the scoring
prior
written based
permission
Singapore Compact
for CSR. Singapore
Compact.
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
their
support
A View
View
of thein
Sustainability
in 2010
A
3.2 Definitions and Assumptions

Since disclosure on certain aspects of governance and economic performance and practices is mandatory for
listed companies, in order to be considered a sustainability report for the purpose of this paper, information on
one of the other categories labour, environment and community had to be provided. In many cases this
meant that companies which reported on little else in detail besides community initiatives were also included as
a gesture of fairness. While volunteerism and philanthropythe most common forms of community
engagementare now considered the most superficial forms of sustainability, if at all, efforts to
Singapore
comprehensively report on these non-financial activities which involved community stakeholders were accepted
for the purposes of this paper.

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
A key assumption was also taken that sustainability reports, as communication tools, are meant to be accessible
to stakeholders. Thus the 32 companies which were not contactable for various reasons (see Appendices) were
h and
Publications
Thomas
assumed THOMAS
not to practiseExecutive
any form ofDirector
sustainability reporting.
R
It was further determined in the initial phase of the project that part of a companys inclusion as an organization
Huilin CHIN
practising sustainability Singapore

reporting would
entailfor
anCSR
actual, separate report from scattered webpages as part of a
Compact
corporate website. Thus, while an overwhelming number of listed companies today publish information on their
Special
Thanks
toprepared
This
report
by reports were included. As such, websites which required visitors to trawl for
website,
onlywas
compiled
or published
CHIN Huishan
specific information on sustainability
performance,
Charlene TAN
Xue Mei however detailed, were not considered reports.
Thomas THOMAS
James YEO
Ming Han
Executive
Director
It must be emphasised that there can be no sustainability reports without companies practicing CSR and
Accountants
ute of Certified
of Public
Singap
sustainability. We have thus assumed that sustainability reports are a reflection of their CSR practices.
oject.
te for
this
research
pro
Huilin
CHIN uses the Senior
Executive,
Research
andcompanies.
PublicationsLarge companies are those with market
The report
term large,
medium
and small
nly
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and
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thanpublished
$1 billion.
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are those with market
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Compact
for sized
CSR companies
ort
titioners.
has
been
While
made
every
to effo
ens
The
information
contained
inand
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publication
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for
general
purposes only
and
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inmillion.
good faith
for are
the
$300
million
and
$1
billion
companies
have
a
market
capitalisation
of
less
than
$300
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ompact
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Special
to Research
Assistants:
part
y be
this
publication
in
any
may
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not aim of
toreproduced,
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responsibility
for any loss which
may
CHIN Huishan
Singapore
Compact.

this report
James YEOofMing
necessarily
s of Singapore
reflect
Compact,
the view
its
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
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support
A View
View
of thein
Sustainability
in 2010
A
010
Page
4 OVERVIEW OF SUSTAINABILITY REPORTING (SR) LANDSCAPE

Figure 2: More Companies with SR
Number of Companies with SR
Figure 1: Small Proportion of Companies with SR

% of Singapore listed companies with SR
Breakdown of these companies by Market Cap
90
79
80
70
Medium
Enterprises
2.14%
Small
Enterprises
3.56%
Companies
with SR
14.06%
Companies
without SR
85.94%
60
50
40
Singapore
30
20
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Enterprises
8.36%
10
0

Thomas THOMAS
64
Y2009
Y2010

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Executive Director
Out of the 562 companies listed on the SGX mainboard, only 79 or 14.06% of them have engaged in
sustainability
activities.
This could
be because
sustainability reporting is just beginning to gather
Huilin CHIN reporting Senior
Executive,
Research
and Publications
Singapore
forpractice
CSR remains less widespread overall compared to overseas
momentum, especially in
Singapore,Compact
where the
economies
such to
Europe. Despite
the small proportion, this number has increased by almost 25% from the
Special
Thanks
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CHIN Huishan
previous year, indicating a positive trend and an increasing awareness of the importance and benefits of

James YEO
Ming Han
Executive
Director
sustainability reporting.
Thomas THOMAS
Figure 3: Larger Company, Higher Likelihood of

SR
Notably, companies with larger market capitalization
pore
Accountants
for
of
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Total number
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y be
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only make up 25% of the companies with sustainability
The disparity in reporting rates could be due to the

manpower, expertise and financial resources often
Large
Medium
Small
Enterprises Enterprises Enterprises
Sustainability
Reporting
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Singapore
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s
CHIN Huishan
100
of
SingaporeSingapore
by market capitalisation)
50Compact,
this report
the views of Singapore Compact, its
James YEOofMing
Han do not necessarily reflect
arise from information contained in this publication. No part of this publication
may be reproduced, in any format, without
150
reports.
(See
Appendix
2 for theCompact
breakdown
of SR
in
55.95%
14.12%
prior
written
permission
of Singapore
for CSR.
Singapore
Compact.
needed for reporting of any kind, as well as the greater global awareness of larger companies which may have
increased their appreciation for sustainability reporting. Large companies also have a higher profile and receive
greater public and media attention, which may have been an added impetus to engage in sustainability
reporting. Furthermore, companies with a smaller pool of resources may feel the need to place reporting on
hold and channel resources into other business aspects that are considered a higher priority or require urgent
attention.
The sector breakdown of the companies with sustainability reporting shows that reports from the
Manufacturing (MFG) and Transport, Storage and Communication (TSC) sectors forms the largest proportion.
Singapore
However, this sector breakdown does not reflect that of all the listed companies as the rate of reporting varies
greatly across sectors. Although the MFG sector contributes
This
was prepared
27% ofreport
the sustainability
reports, by
this is only 9.46% of all MFG

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Figure 4
Breakdown of companies with SR by sector
AGR
companies. On the other hand, the Agriculture (AGR) sector,

h and
6% COM
Executive Director
TSC
8%
R
which contributes onlySingapore
6% of theCompact
reports,for
hasCSR
a 71.43%
20%
reporting rate, probably due to significant or high-profile
Huilin CHIN
issues facing the economies

within which
companies
Singapore
Compact
for CSRoperate.
Furthermore, the Electricity, Gas and Water (EGW) and the
CONS
2%
FIN
6%
SERV
8%
HOTELS
5%
Special Thanks to Research Assistants:

Mining and Quarrying (MINQ) sectors have only one company
CHIN Huishan
each and thus, their Charlene
reporting TAN
rates
0% and 100%
XueofMei
James by
YEO
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Han
Thomas
THOMAS
Executive
Director
respectively,
are determined
that
one
firm alone. (See
PROP
9%
MULTI
8%
MFG
27%
MINQ
1%
Appendix 2 for the breakdown of SR in Singapore by sector)

Accountants
ute
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Singap
oject.
Huilin
CHIN
Figure
5: Sustainability
Reporting
Rate Differs
Across Sectors
in providing
a platform
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support
nly
d
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CHIN Huishan
42.11%
No part of this publication may be reproduced,
in
any
format,
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Singapore
Compact.
37.50%
40.00% permission of Singapore Compact for CSR. Singapore
28.57%
prior written
Compact.
Charlene TAN Xue Mei 20.00%

18.42%
The analysis and0.00%
recommendations
this report
James YEOofMing
Han0.00%
<No
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COM
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MFG
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Singapore
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0.00% committee or members.

management
necessarily
s of 20.00%
Singapore
Compact,
the7.14%view
its
9.46%
7.79%
7.69% reflect
5 COMMUNICATING AND ASSURING SUSTAINABILITY REPORTS

The vast majority of the sustainability reports are
integrated reports where information on the firms
Figure 6 Most SRs are sections in annual reports

% of SRs that were separate or integrated reports
actions and policies on environment, labour rights and

16.5%
practices and community and society are included
Separate
Reporting
within the annual report.

While the definition of integrated reporting still varies
among
sustainability
practitioners,
our
83.5%
Singapore
Integrated
Reporting
research

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
suggests that most companies are still at a very early
stage of integrated reporting.4 For most integrated reports, sustainability reporting is essentially a section within
Thomas
THOMAS
Executive
Director
companies
annual reports,
although
there are a few companies that do incorporate the different aspects of
sustainability performance throughout the entire report.
Huilin CHIN
Furthermore, while almost

all companies
reports, no companies engaged in true online
Singapore
Compacthad
fordownloadable
CSR
reporting.5 That is, none of the reports were tailored or interactive, targeted at individual stakeholder groups,
Special
Thanks
toprepared
This
report
was
byregularly updated within the year.
incorporated
reader
feedback, or
CHIN Huishan

James YEO
Ming Han
Executive
Director
A minority of 16.5% are separate standalone reports issued by the company and the title of such reports varies
Thomas THOMAS
from Sustainability Report to CSR Report to Environmental Report. In Singapores current sustainability
pore
Accountants
for
of
Singap
landscape, separate
reports tend to provide more information on the
companys sustainability
performances
oject.
and practices than integrated reports. This is probably because having a separate report dedicated purely to the
Huilin
CHIN
in providing
for this
project.concerns and actions, but also
their
support aspects
sustainability
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benefit
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4
For an oft-cited example of thorough integrated
reporting, see Novo Nordisks Annual Report.
ss
o Special
responsibility
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may
for
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Thanks
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There is a broad consensus that online reporting is likely to be the future direction of sustainability reporting, with greater interaction
rmat,
y be
reproduced,
without
any
not
aim to be
comprehensive
or exhaustive.
Singapore
Compact
for include
CSR accepts
no in
responsibility
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and consideration
of targeted stakeholder
groups interests.
These
may even
multimedia
and interactivefor
dialogue.
it
relatively detailed SR feedback form. www.clpgroup.com. The company also issues shorter versions with their Annual Report.
CSR Europe also has a list of companies engaging in various forms of online reporting, including BHP Billiton, British Telecom, and Centrica
PLC. Centrica and companies such as Bayer and Aviva allow readers to customize an individualized report by selecting relevant sections,
marking and annotating them.
Sustainability
Reporting
Singapore
Singapore
Compact
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A View
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Also, Candace Hodder (2011). The Future of Sustainability Reporting. Retrieved (22 September 2011).
of
Singapore
Compact,
http://www.globalreporting.org/NewsEventsPress/LatestNews/2011/FeatureArticleCompetitionThirdPlaceCandaceHodder.htm
ofMing
this report
James
YEO
Han
For comparison, see Hong Kongs CLP Groups Online Sustainability Report, which has an interactive index, interim updates and a
arise
from information
in this
publication.
No part ofreporting
this publication
maybespoke
be reproduced,
in anyRetrieved
format, without
See Guardian
Sustainable contained
Business (2011).
The
future of sustainability
will be plural,
and continuous.
23
prior
written
permission
of
Singapore
Compact
for
CSR.
Singapore
Compact.
September, 2011. http://www.guardian.co.uk/sustainable-business/blog/sd-reporting-plural-bespoke-continuous
emphasises the companys stand towards sustainable practices and reporting. (See Appendix 3 for exact figures
on the different reporting modes)
5.1 Report Structure and Assurance

Perhaps because sustainability reporting is a
relatively new concept to most firms, most reports
follow different structures. There is currently no
Figure 7 No Standard Reporting Structure

Number of companies using the different frameworks
(Note that companies may use more than 1
framework, with consequent overlap)
standard or common reporting framework used
GRI
across a majority. However with SGXs Guide to
UNGC
Sustainability Reporting, there may be more
RSPO
uniformity
andwas
standardisation
the coming years,
This
report
preparedinby
Own
10
Singapore
6
4
67
0
20
40
60
with greater awareness of the Global Reporting

h and
Executive Director
Initiative
(GRI)
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R
Singapore
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for CSR

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
80
While
of the 79 companies
not use any
established
framework, there are several companies that follow
Huilin67
CHIN
Senior do
Executive,
Research
and Publications
Singapore
Compact forstandards.
CSR
one or more of the better
known international
The most commonly used is the GRI, an organisation
focused on making disclosure of ESG (environmental, social and governance) performance a standard practice to
Special
Thanks
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This
report
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by responsible practices.
increase transparency and
promote
CHIN
Huishan
Other standards include the United Nations Global
Charleneten
TAN
Xue Mei accepted
Compact (UNGC) framework,
universally
Thomas THOMAS
James YEO
Ming Han
Executive
Director
Figure 8 Minority of Reports Audited/Verified
Proportion of total reports audited
Singapore
Compact for CSR
Proportion
of GRI framed
reports verifed
Accountants
ute
of
Certified
of
Public
Singap
and anti-corruption;
and the
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80
oject.
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Oil (RSPO) that applies
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70
Huilin
CHIN
Unlike
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60
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ompact
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responsibility
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gaps in substantiating reports.
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CHIN Huishan
No part of this publication
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Singapore
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20
companies
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10
this report
James YEOofMing
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With SR
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Appendix 3 for
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management
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declaredSingapore
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necessarily
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6 ASSESSMENT OF SUSTAINABILITY REPORTS

Figure 9 More Disclosure and Detail for Governance Aspect
Overall Average Score of All Sustainability Reports in Singapore
Governance
2.29
Environment
0.95
Labour Rights and Practices
1.20
Economic
1.26
Community and Society
1.34
0.00
0.50
1.00
1.50
2.00
Singapore
2.50

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
The overall
average
for eachby
category reflects the level of detail, disclosure and coverage for the particular
This
report
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prepared
category under Singapores current sustainability reporting landscape. It is calculated by taking the average of
Thomas THOMAS
Executive Director
the scores of the indicators

underCompact
each category
for all the sustainability reports based on the quantitative
Singapore
for CSR
framework drawn up. The framework endeavours to further rank disclosure practices using a 0-1-4-9 scale.
Huilin CHIN

Compactapplied
for CSRacross sectors, there was a range of possibilities for each
It should be noted thatSingapore
as the framework
score. A 9 was only awarded to rare and truly outstanding reporting practices and should not be considered a
Special
Thanks
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report
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by1 and 4 bands were widely defined, with most reports falling into these
denominator. Consequently,
CHIN the
Huishan
Charlene
Xue Mei
bands. Given the limitations
of anyTAN
evaluation
across such diverse sectors, the most valuable insights come not
Thomas THOMAS
James YEO
Ming Han
Executive
Director
pore
Accountants
for
from numerical scores, but from the broader picture gleaned, as well as comparisons between categories.
of
Singap
The breadth and depth of information on governance is significantly more than in other aspects. This is most
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impacted. This
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management
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CHIN Huishan
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of climate
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as legislation
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Green Mark certification for developments, but
prior
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Singapore
6.1 Governance (Gov) Indicators

Figure 10 Mandatory Code Drives Overall Score
Governance Indicators Overall Average Score
Gov 1
Figure 11 FIN Sector Discloses More on Governance

Governance: Sector Comparison to Overall Average
4.65
Gov 2
1.49
Gov 3
1.71
Gov 4
1.32
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= Singapore Code of Corporate Governance

= Governance Procedure Disclosed
= Stakeholder Engagement and Inclusiveness
= Anti-Corruption
3.50
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10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
h and
Executive Director
The
high
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score
reflects mandatory requirements of the Singapore Code of Corporate Governance,
R
which is one of the indicators under this category and for which majority of companies scored 4. Despite this,
Huilin
CHIN observationSenior
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Publications
the
general
is that
companies
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meet,
rather than exceed, the Codes requirements. In
comparison, the disclosure on governance procedures, stakeholder engagement and inclusiveness and anticorruption
iswas
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Under Principle 14 and Charlene
15 of the TAN
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James
YEO
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Han
Thomas
THOMASchannels
Executive
Director
communication
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shareholders, but only a handful discussed their interaction with other
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information
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No part of this
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Sustainability
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companies heavily outperform other sectors in this category, partly due to its nature, as well as the tight
12
The overall
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driven mainly by Compact,
the Finance (FIN),
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necessarily
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James
YEO
Han
Properties (PROP) sectors which have scores significantly exceeding the overall average. In particular, finance
6.2 Environment (Env) Indicators

Figure 12 Little Disclosure on Compliance
Environment Indicators Overall Average Score
Envir 1
Envir 2
Envir 3
Envir 4
Envir 5
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Figure 13 AGR Sector Discloses Most on Environment

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10 Hoe Chiang R
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DID: 6827-6825 F
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The three indicators that were most reported on are energy, waste management and greenhouse gases and
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6.3 Labour Rights and Practices (LR&P) Indicators

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Figure 15 Labour Intensive Sectors Drives LR&P Score

LR&P: Sector Comparison to Overall Average
1.00
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10 Hoe Chiang R
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h and
Executive Director
Occupational Health and Safety (OHS) and Training and Education are the highest scoring indicators within this
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and relations with employees still lag behind with less emphasis as indicated by their lower score.

James
YEO
Ming Han
Thomas
THOMAS
Executive
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With the
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particularly with economic uncertainties. Given the greater response to Community indicators (see 6.5) and
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6.4 Economic (Econ) Indicators

Figure 16 Little on Socio-Economic Aspects
Economic Indicators Overall Average Score
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Figure 17 FIN and MULTI Sectors Drive Economic Score

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2.00
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Overall Econ Average

10 Hoe Chiang R
Keppel Tow
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DID: 6827-6825 F
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Executive Director
There is, by far, the most disclosure on risk management. This is not surprising as reporting financial risk
management is a standard practice and this often leads to more disclosure on other risk management and
Huilin CHIN
Senior
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mitigation
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broader economy. These aspects are usually easily overlooked as it is not a direct outcome of the business
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6.5 Community and Society (C&S) Indicators

Figure 18 Clear Areas of Emphasis
C&S Indicators Overall Average Score
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Figure 19 FIN Sector Discloses Most on C&S

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10 Hoe Chiang R
Keppel Tow
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DID: 6827-6825 F
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h and
Executive Director
The disclosure on companies community engagement and development programmes and the corporate
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While companies do engage in product responsibility practices, only a few of them provide information in this
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James
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Figure 20
Overall average category scores for each sector
AGR
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Singapore
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10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
FIN

HOTELS THOMAS
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overall
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Agriculture
The sustainability reports from the agriculture sector are well balanced, providing fairly equal disclosure in all
categories. This sector ranked the highest in the environment category and the disclosure coverage and detail
on greenhouse gases, waste management and biodiversity was exceptional. The emphasis on environment,
particularly biodiversity, could be due to agriculture companies utilisation and acquisition of large areas of land
which is required for their business operations, and hence a greater direct impact and contact with parties
involved in species conservation especially in overseas operations. Agriculture companies are thus more
involved in the management of this land and the surrounding environment, with more direct connection to its
Singapore
sustainability.
Commerce

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
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An analysis of the construction

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Thomas
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and involvement. This could be due to the scrutiny and regulations in place for companies in this sector, as well
community efforts also fared well, with the scores for philanthropy, engagement and product responsibility
being above average. While this may be in part due to the finance industrys availability of resources, and its
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Sustainability
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18
as investor interest. However, the score for environment is very low, possibly because the business generally
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involves more services
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and services.
Hotels and Restaurants
Hotels and restaurants generally disclose more on community and society, perhaps thanks to the constant
importance of interaction and engagement with clients, as well as the benefits of clear communication with
communities within which these companies operate. However, the sectors score for environment and labour
rights and practices disclosure are considerably lower than expected, given the importance of personnel and
the
Singapore
personal aspect of service. In particular, only training and education and limited information on employee
relations were reported under labour rights and practices.

Manufacturing
Thomas THOMAS

10 Hoe Chiang R
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DID: 6827-6825 F
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Executive Director
There is significantly more reporting on governance and investment in non-core infrastructure for
manufacturing companies, with equal coverage on all the other categories. Despite this, the sustainability
Huilin CHIN
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James YEO
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Thomas
THOMAS Executive
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category score noticeably lower than the scores of the other categories. The overall better level of reporting
Singapore
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in made
theirpurposes
sustainability
reports
than most
other
The
contained
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publication
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for general
only and
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faithsectors,
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s
only
are
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with
the scores for almost all categories
exceeding the overall average and
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ss
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Compact
for
CSR
accepts
no
responsibility
for
any
loss
may for
and workforce figures. In particular, the reporting on governance and labour issues were outstanding. which
However,
19
impact of business
on the
broader economy.
management
committee
or members.
it
Page
s
s
CHIN Huishan
impact communities
and the economy, there appears to be a gap
in reporting on climate change risk and the
of
Singapore
Compact,
this report
James YEOofMing
despite
the permission
considerable
attention
to detail
under
environment,
and the potential for developer projects to
prior
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of Singapore
Compact
for CSR.
Singapore
Compact.
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Reporting
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Singapore
Compact
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Service
While the service sector exceeded the average score in the economic category, the overall level of disclosure
across all other categories were relatively low, particularly in environment. This suggests that the
communication priorities for the sector in general may be focused on direct stakeholders, and may indicate a
gap in terms of the potential for communicating sustainability action to other potential investors and clients.
Transport, Storage and Communication
This sector provides a quite a balanced disclosure in all aspects, with scores that exceed the overall average in
Singapore
almost all categories, Technological development, constant updates in regulation and standards as well as the
importance of community ties are possible motivations for TSC companies good performance. While there was

little reporting on the indirect implications of and risk to the business, this particular indicator scored low across
10 Hoe Chiang R

all sectors.
h and
Executive Director
R
Huilin CHIN
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga

Thanks
ThisSpecial
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Thomas THOMAS

James YEO
Ming Han
Executive
Director
Accountants
ute of Certified
of Public
Singap
oject.
Huilin
CHIN
nly
d
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and
general
published
purposes
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good
on
Singapore
Compact for CSR
ort
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While
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ompact
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this report
James YEOofMing
Sustainability
Reporting
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Singapore
Compact
wouldinlike
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disseminate
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A View
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Sustainability
in 2010
A
010
Page
20
necessarily
s of Singapore
reflect
Compact,
the view
its
7 NOTABLE EXAMPLES
Governance
Singapore Exchange (SGX), SembCorp Marine and Great Eastern Holdings Limited stood out for the level of
detail and disclosure. All three companies included briefs on the educational and employment background for
board members, and further tabulated the various board and committee meetings attended by each individual
member. Remuneration bands were also disclosed, with SembCorp detailing a breakdown of the remuneration
under each type of appointment.
Singapore
SGX and Fraser & Neave (F&N) Limited also included the dates of appointment and latest re-election for
individual board members, present and past directorships and serving committees. The companies corporate

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
governance reports, in their annual report, further detail the level of remuneration for board members and
senior management, going so far as to list details of exercise prices and expiry dates. SGX also included
Thomas
THOMAS
Director
performance
level and Executive
performance
shares granted to committee members over several years based on key
performance indicators. The exact remuneration to Directors and Top Five key executives are disclosed to the
dollar
both SGX and
F&N.Executive,
The corporate
governance
report further includes accountability and audit
Huilin for
CHIN
Senior
Research
and Publications
Singapore
Compact
foritsCSR
processes and outlines internal
controls
such as
whistle-blowing policy.
Thanks
ThisSpecial
report
wastoprepared
by
CHIN Huishan
Environment
Thomas THOMAS

James YEO
Ming Han
Executive
Director
Environmental Management/Impact and Biodiversity
pore
Accountants
for
of Singap
Golden Agri-Resources and Wilmar both stood out in this area for the level of detail and breadth of
oject.
Singapore
would
like to thank
the
Institute
of
Accountants
of Singapore
for
environmental
concerns
considered.
They
were
two
a Certified
very smallPublic
handful
of companies
which considered
Huilin
CHIN Compact
Senior
Executive,
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andofPublications
biodiversity
at all, and
also disclosed
previous
nly
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published
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in
good
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Compact
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ort
sure
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that
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The information
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only inandthe
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Both
companies
their
conflict
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groups
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reporting
ondoes
its lo
information
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of going to the
its contents
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guidance
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not aim to be
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conservation
biodiversity
issues. may be reproduced, in any format, without
CHIN
Huishan
arise frommanagement
information contained
infor
this
publication. and
No part
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Singapore Compact,
endangered
species
thereport
International
Union forreflect
Conservation
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Nature (IUCN)
anditstheir status,
The analysis
and recommendations
this
the views of
Compact,
James under
YEOofMing
Han do not necessarily
with further details on particular species which the companies were directly involved in
it
21
of
Page
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s
priorwritten
of Singapore
for CSR.
Singapore
Compact.
Bothpermission
companies
disclosedCompact
the region
and
size of conservation
areas, as well as respective lists of
Sustainability
Reporting
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Singapore
Compact
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support
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Sustainability
in 2010
A
Soil management, chemical pollution, pesticide use, greenhouse gases and carbon emissions, as well as
fire and haze in the case of Wilmar, were outlined with findings and figures disclosed, even though these
were not necessarily complimentary to the company throughout. The frankness of this disclosure should
be further encouraged and practised by all companies.
Both companies also reported on water and waste management processes, and water, waste and
energy consumption and conservation over several years and various regions or sources.
Energy and Resource Usage Levels

Singapore
While the property developers stood out as a group in terms of their disclosure of water and electricity
disclosure across several years, as well as information on the environmental management programmes and

audits, City Developments Limited was by far the most detailed in providing concrete figures. These include
This
was various
prepared
by and sub-categories of developments, with figures going back to 2005, as
energyreport
used across
divisions
h and
Publications
well as usage
of water
at various Director
developments and divisions. Furthermore, recycling and waste generation
Thomas
THOMAS
Executive
R
Singapore
Compact
for with
CSR some consideration of biodiversity and figures on noise
quantities were measured
and reported,
along
10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
pollution, an area neglected by almost all other companies in the study.
Huilin CHIN

Special
Thanks
Labour
This
report
wastoprepared
by
CHIN Huishan
Workforce figures
Thomas THOMAS

James YEO
Ming Han
Executive
Director
A good handful of companies included detailed profiles of their workforce with a wide range of employee
Accountants
ute
of
of
Public
Singap
statistics, broken
down by Certified
age, gender, geography, race, educational
qualification
and sector. Wage levels,
oject.
te benefits
for
this
research
pro
and services for
foreign workers, union member
figures, as well as brief outlines of employment policies
Huilin
CHIN
in providing
a platform
to disseminate
for this
research
project.
their
were support
also reported
for a handful
of companies,
providing
a clear
idea of
the level of employee remuneration
nly
d
for
and
general
published
purposes
in
good
on
Singapore
Compact for CSR
welfare,
as well as the company
workforce
composition. made
ort
titioners.
has
been
While
every
to effo
ens
g
are
to
the
for general
press, its
guidance
contents
o
City Developments Limited and
Keppel Corporation
stood out as having
the most detailed
information on los
o
ompact
responsibility
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CSR
for
accepts
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no
information
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and up Assistants:
Special
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part
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publication
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or exhaustive.
Singapore
Compactand
for schemes,
CSR acceptsemployee
no
responsibility
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loss which
may
employment
policies,this
benefit
and retirement
provision
recognition,
and
CHIN Huishan
Singapore
Compact.
unionwritten
engagement.
also gave
due consideration
to talent
attraction and retention in general and for
prior
permissionCDL
of Singapore
Compact
for CSR. Singapore
Compact.

this report
James YEOofMing
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
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disseminate
their
support
A View
View
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Sustainability
in 2010
A
010
Page
22
particular
population groups, as well as details
on grievance andCompact,
engagement process.
necessarily
s of
Singapore
reflect
the view
its
Occupational Health and Safety

Generally well covered by a number of reports, with figures on accident frequency rate and accident severity
rates over several years being the key areas reported.
Keppel Land and Keppel Corporation outlined its safety policies and broader medium-term strategy involving
various stakeholder groups, as well as its safety review procedures and focus areas. The report also detailed
workforce engagement, training and recognition for safety leadership.
Training and Development
Singapore
Golden Agri-Resources included a framework across various skills under its strategic management programme,
although no figures and trends over the years were disclosed.

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
This
report
wasincludes
prepared
by capital strategy combining various HR targets with business objectives and
SembCorp
Marine
a human
goals; the company also included a brief summary of its employee satisfaction survey, organizational
Thomas THOMAS
Executive Director
development efforts andSingapore
organizational
culture
Compact
forconsiderations.
CSR
Huilin CHIN
Economic

Special Thanks to Research Assistants:

This
Riskreport was prepared by
CHIN Huishan
Charlene
TAN Xue
Mei
A small handful of companies
included
comprehensive
explanations of their risk management structure, as well
Thomas THOMAS
James YEO
Ming Han
Executive
Director
pore
Accountants
for
as identified risks in various areas and mitigation strategies to manage these.
of
Singap
Reports by CDL, Keppel Land, SMRT and SembCorp Marine stood out in their coverage of the various risks facing
oject.
their respective
businesses,
well
the mitigation
measures
and risk
management
process.
SembCorp for
Marine
Singapore
wouldas
toas
thank
the Institute
of Certified
Public
Accountants
of Singapore
Huilin
CHIN Compact
Seniorlike
Executive,
Research
and
Publications
in providing
a platform
disseminate
their
support
further
included
an explanation
of theto
companys
be worth noting
that the
nly
faith
and
for
published
the
good
Singapore
Compact
for CSRrisk management structure. It mayin
ort
sure
that
the
made
to
ens
latter has
two companies
did notbeen
have separate
sustainability reports
available, but even compared
to other annual
s
only
are
and
for
general
does
guidance
o
benefit
Singaporean
organizations
business
practitioners.
While
effort has been made to ensure that the
reportsoffrom
the finance
sector, forand
instance,
their
risk coverage
wasevery
considerable.
ss
o Special
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y be
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in
not
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Singapore
Compact for
CSR accepts
nobreakdown
responsibilityofany
for
loss which
may
Total Access Communication PLC
also included
an extensive
assessment
and
theany
potential
risks
it for
impressive.
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
their
support
A View
View
of thein
Sustainability
in 2010
A
23
management
committee
or members. framework disclosed, the level of detail and breadth of consideration was
more structured
risk management
it
Page
s
s
CHIN Huishan
of
Singapore
Compact,
operations
and competition, with detailed background and current
While there could have been a
this report
views of Singapore Compact, its
James YEOofMing
Han do not necessarily reflect thestanding.
faceswritten
from permission
legislation,offluctuating
economic
rates,
changingCompact.
opinion, partnerships and affiliated companies,
prior
Singapore Compact
for CSR.
Singapore
Economic Value
Olam Internationals reporting is largely on a programme basis as their operations vary depending on product
and region. What stands out is the clear consideration and connection between the economic value of and
impact on the areas the company operates in, and the companys core products. Programmes such as a rice
farming initiative in Nigeria, cocoa crop training in Sumatra and finance options for farmers in Cote dIvoire are
briefly summarized with figures for the past and current years provided, although this could be more consistent
across the report. These are closely tied to its community engagement and development reporting and
performance.
Singapore

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Wilmar and Golden Agri-Resources both stand out for the community initiatives, probably due to the nature of
h and
Executive Director
their
operations
having
a high impact
on afor
significant
geographical area in developing economies. Both
R
Singapore
Compact
CSR
companies participate in a smallholder or Plasma Programme initiated by the Indonesian government, and
Huilin CHIN

report on the number of smallholders, area covered and the collective earnings of smallholders. In addition,
both companies disclose student figures for the various levels of education provided by schools established
Special
Thanks
Research
through
partnerships.
WilmarAssistants:
also
This
report
wastoprepared
by discloses the background and resolution process behind conflicts which have
CHIN Huishan
recently arisen with local
communities,
Charlene
TAN Xueincludes
Mei figures on health and medical facilities provided, and a
breakdown
of childrenExecutive
impacted
by their
partnerships broken down by year and age.
James YEO
Mingeducation
Han
Thomas
THOMAS
Director
Accountants
ute of Certified
of Public
Singap
oject.
te for
this
research
pro
Huilin
CHIN
nly
d
for
and
general
published
purposes
in
good
on
Singapore
Compact for CSR
ort
titioners.
has
been
While
made
every
to effo
ens
g
are
to
the
for general
press, its
guidance
contents
o
o
ompact
responsibility
for
CSR
for
accepts
any
los
no
information
is accurate
and up Assistants:
Special
Thanks
to Research
part
y be
this
publication
in
any
may
for
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responsibility
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may
CHIN Huishan
Singapore
Compact.

this report
James YEOofMing
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
their
support
A View
View
of thein
Sustainability
in 2010
A
010
Page
24
necessarily
s of Singapore
reflect
Compact,
the view
its
8 CONCLUSIONS AND FUTURE OUTLOOK

The findings suggest that while there several main aspects of sustainability are well-reported by companies, in
some cases to an admirable level of depth and breadth, the potential for reporting remains considerably
uptapped upon. In general, companies are not fully capitalising on the opportunities to communicate their
actions and efforts to stakeholders including investors and clients, even if they are performing well in certain
aspects. This gap between action and reporting should be filled in order to benefit both companies and their
stakeholders,
Singapore
Sustainability reports reflect the CSR and sustainability efforts of organisations. The only way to produce
a
decent sustainability report is to have CSR as part of the core values of the company. Singapore Compact as the
national society for promoting CSR in Singapore stands ready to support companies in their CSR journey.

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
A key expectation not only in Singapore but globally is that the rate of sustainability reporting will rise, with
Thomas THOMAS
Executive Director
more companies being aware of its importance to investors and stakeholders. In the longer term, it is hoped
that consequently the performance growth for each indicator will reflect broader progress in sustainability due
Huilin
CHINassessmentSenior
Executive, Research
and Publications
to
increased
and improvement
rates.
In terms of structure and communication, the general consensus and trend suggests that companies which have
Special
Thanks
toprepared
Research
Assistants:
This
report
bycomprehensive sustainability reporting will utilise one of the internationally
grown
morewas
aware
of true and
CHIN Huishan
accepted frameworks. While

the GRI
continues
Charlene
TAN
Xue Meito grow in importance, it is possible that some organizations will
James
YEO
Han their reports and practices, although synergy between the two
Thomas
Executive
Director
look toTHOMAS
the ISO 26000
as
a way
to Ming
structure
Singapore
Compact
for CSRand civil society institutions
organizations and several
corporate
citizenship
suggests that both frameworks
pore
Accountants
for
of Singap
could be effectively incorporated into one for standardization and convenience. In Singapore on the whole
oject.
Singapore
Compact
would
like to thank
the longer
Institute
of Certified
Public Accountants of Singapore for
however,
moveSenior
is expected
to take
the global average, although any impetus and
Huilin
CHIN this
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andthan
Publications
nly
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the
encouragement
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to speed upgood
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Singapore
Compact
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CSR and the government is likelyin
ort
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been
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The
information contained in this publication is provided for general purposes only and published in good faith for the
considerably.
s
only
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ss
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which
may
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of going
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Research
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that
companies
more to
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reporting
sustainability-related
alongside
to coremay
business
performance
current
and
arise
from information
contained
inpractices
this publication.
Noand
partin
ofrelation
this publication
be reproduced,
in anyand
format,
without
future strategies, rather
than asTAN
a separate
Charlene
Xue Meisection or report. A number of reports encountered in this study
inserted
information
on volunteerism
and
activities
afterthought
in its
their Annual
The analysis
and recommendations
this report
do not necessarily
reflect almost
the viewsasofan
Singapore
Compact,
James
YEOofMing
Hanphilanthropy
Report. While this is likely to continue for some time it may perhaps lead to fuller integrated reporting if
sustainability awareness in general accelerates faster than the awareness of reporting itself, although this is
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
Non-Financial
disseminate
their
support
A View
View
of thein
Sustainability
in 2010
A
25
it
Page
s
s
unlikely. It is hoped that at the very least, reporting in other key areas will match the level and extent of
reporting in the governance and finance categories.
Communicating or disseminating reports using more traditional online formats (i.e. pdf reports) may shift
towards interactive forms more quickly than the substance of reports themselves, especially for companies with
a global or younger presence or those which are more tech-savvy. While this will hopefully highlight the
possibilities of reporting and further generate awareness and engagement among stakeholders, it is unlikely to
happen to a significant extent in the Singapore context in the near future, given the generally low take up of
explicit CSR and slow start to sustainability reporting.
Singapore
There will be significant improvement in the quality and quantity of sustainability reporting if companies
embrace CSR. Singapore Compact encourages companies to sign up to the 10 principles of the United Nations
This
wasuseprepared
by
Globalreport
Compact,
the ISO26000
international guidance standard on social responsibility as a guide on
implementing
CSR and
report on Director
their CSR practices using the GRI framework. In summary, the following
h and
Publications
Thomas
THOMAS
Executive
R
Compact
forenterprise,
CSR
provides a useful guideSingapore
to get started.
Every
big or small can start this journey and enjoy the
benefits:
Huilin CHIN
10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga

Understand what corporate responsibility is all about
Thanks
toprepared
Research
Assistants:
was
Do
well
by doing
ThisSpecial
report
by good: A common misperception persists that CSR is all about philanthropy,
CHIN Huishan
charity and volunteerism. While these are indeed commendable, simply donating time and

James YEO
Ming Han
Executive
Director
money do not mean a company is responsible throughout the various aspects of its daily
Thomas THOMAS
operations. Issues like supply chain management, sustainable sourcing, employee development
Accountants
ute of
Certified
of
Public
Singap
and benefits,
and of course engagement with internal
and external
stakeholders, are key to
companies
truly performing responsibly
as part of business.
oject.
te for
this
research
pro
Huilin
CHIN Responsible
Senior Executive,
Research
and Publications
also useful in
management,
enabling companies to pinpoint key
in providing a practices
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their support
nly
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and
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areas Singapore
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risk or vulnerability
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has
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While
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ens
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this
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ompact
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all, corporate
social responsibility is key in a long-term mindset towards achieving
part
y be
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sustainable
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the above
measures
are likelymay
to be
require
increased
resources
in the
arise from information
contained
in this While
publication.
No part
of this publication
reproduced,
in any
format, without
Singapore
Compact.
prior written permission

Singapore
Compact
forto
CSR.
Singapore profits
Compact.and continuing growth of the company,
short of
run,
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Sustainability
Reporting
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Singapore
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A View
View
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Sustainability
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A
010
Page
management committee
or members.
that considers
all aspects of business management and development.
26
necessarily
s of Singapore
reflect
Compact,
the
view
its
through
building
and
an already-well-tuned
organizational
thisexisting
report
not necessarily
reflect
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Compact, its structure
James
YEOofon
Ming
Han dorelationships
Know your organization
Crucial in every effort to improve performance are understanding the company inside out, and
its role within the industry and economy. Senior management should be well aware of both the
risks and opportunities faced in each department or division, as well as the companys strengths
and weaknesses in order to capitalize on the areas with the greatest growth potential.
Stakeholder engagement and a sense of connection will strengthen the companys goals, and
requires internal networking to identify partners and champions within the organization who
can further overall goals and help in realizing the company vision.
Singapore
Of course, staying on top of the latest developments will help keep an organization relevant and
at
the
forefront
of
the
industry.
Identify
pertinent
trends
relevant
to
business/project/investment to make informed decisions.
your

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Get a leadership commitment

Thomas
THOMAS
Executive Director
Singapore
Compact
forhave
CSRshown repeatedly that companies with head management
Case studies
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surveys
Huilin CHIN
personnel who believe in sustainability and a certain philosophy of corporate behaviour tend to
performSingapore
better withCompact
more organizational
cohesion towards company goals. Make the case and
for CSR
ensure buy-in from top management for full integration across the company
Thanks
toprepared
ThisSpecial
report
was
by sustainability vision. Ask the following questions, and think hard about the
Develop an organizational
CHIN Huishan
TAN Xue Mei
long-term goalsCharlene
of the company:
Thomas THOMAS
James YEO
Ming Han
Executive
Director
pore
Accountants
for
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identity and what it intends to achieve as a player in itsof
particular industry:
why will it stand out?
What kind of organization do we want to become? Concretize the organizations long-term
oject.
What are our values? These will help guide the company towards the important areas of focus in
Huilin
CHIN
Senior Executive,
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andto
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nly
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Special
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The sustainability report is not an end in itself. It is a means to communicate responsible business practices
externallySingapore
and an effective internal tool to measure, benchmark and
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of
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rmat,
y be
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not aim to be
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exhaustive. Singapore
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for CSR
acceptstoo
no in
responsibility
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loss which may for
We look forward to supporting responsible business practices and sustainability reporting. It will be good for
business, people, all stakeholder groups and the nation as a broad economy.
Sustainability
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Sustainability
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A
27
it
Page
s
s
9 APPENDICES
Appendix 1: Quantitative Framework for Qualitative Assessment of Sustainability Reports
Purpose:
To provide a quantified basis of comparison for quality of disclosure in different content areas
Notes:
- Framework has been drawn to capture key areas of reporting, with consideration of detail
- For the sake of comparing content and depth coverage of all sustainability reports in 2010, the study
will provides a general score for each category
- The scope of this study does not allow for inclusion of sector-specific practices and specific weightings
for each indicator
Comparison:
- Comparisons can be done fairly between (1) 5 categories; (2) indicators within categories
Singapore
- A more detailed and accurate comparison would have to take into account sector- and size-specific
adjustments, which are beyond the scope of this framework.
Question to answer:

Which broad areas of sustainability (5 categories) are most reported across companies and
to
10 Hoe Chiang R
what extent
This report was prepared
byof detail?
Keppel Tow
Singapore 0
DID: 6827-6825 F
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Level of Disclosure
h and
Executive Director
(Tick one score for each indicator)
R
Huilin CHIN
Senior Executive, Research and

Thanks
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CHIN Huishan

James
YEO
Ming Han
Thomas
THOMAS
Executive
Director
Singapore
Code of Corporate
Governance
Governance
General Score Description (unless otherwise indicated):

0 = No Disclosure / Not mentioned
Publications
1 = Brief mention of targets or practices
4 = Procedures and mechanisms in place and/or some
reporting on targets and performance
9 = Very detailed and specific disclosure of targets,
policies and/or performance
0
NA as Code is Simple
4
Detailed
Over the
- Requirement for listed companies in Singapore

compulsory stating of
description of
requirements
for
listed
compliance
/
compliance /
Disclosure
on
compliance
with
the
15
principles
or
explanation
on
Accountants
ute of Certified
of
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of the Code
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oject.
te for
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The
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o
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ompact
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responsibility
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CHIN
Huishan
arise
from
information
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No
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James YEO Ming Han
Sustainability
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28

Anti-Corruption
necessarily
s of
Singapore
reflect
Compact,
the view
its
- Whistle-blowing
policies
The
analysis and recommendations
of this report do not necessarily reflect the views of Singapore Compact, its
- Other anti-corruption
measures
and checks
management
committee or
members.
- Disclosure of compliance lapses
Environmental
Level of Disclosure
1
Energy
- Direct and indirect energy consumption (kW)
- Energy saving and reduction policies / initiatives
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Water
- Percentage and total volume of water recycled and reused
- Withdrawal of water (water consumption)
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Singapore
Waste Management
- Processes / Measures to monitor and manage waste
- Disposal procedures for hazardous and non-hazardous commercial
and industrial waste
- Pollution,
recycling
and collectionby
systems and extent of efficacy
This
report
was prepared

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Greenhouse Gases (GHG) / Carbon Emissions
Thomas
THOMAS
Director
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emissionsExecutive
and consumption
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Compact for
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procedures
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Huilin
CHIN(ecosystemsSenior
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on biodiversity
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of operation
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CSR
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aspects of biodiversity
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Compliance (fires, spills, related
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- Environment-related accidents or penalties and consequent

measures to minimize/negate impact
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initiatives
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Thomas THOMAS
Executive Director
pore
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Total employment
oject.
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would
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Institute
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The
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s
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Fair
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ss
o Special
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CHIN Huishan
James YEO Ming Han
arise
from information
contained in this publication. No part of this publication may be reproduced, in any format, without
Labour/migrant
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CSR. Singapore
- Feedback and communication
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The
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this and
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- Worker representation
unions or associations
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members.
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Labour Rights and Practices (Cont.)
Level of Disclosure
1
Occupational Health and Safety

- Comprehensive and relevant health and safety measures in place
- Accident and emergency procedures and provisions
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Training and Education
- Skill upgrade and education for staff of various levels
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Singapore
Economic
Economic value generated
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Value and Supply Chain (services and goods)

- Disclosures on business
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THOMAS
Executivemanufacturing,
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R
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10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Climate change implications, risk, opportunities
Huilin
CHIN of currentSenior
Executive,
Research
and Publications
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and future
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climate change
on
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- Measures to manage the challenge and opportunities for leverage
Investment
in non-core
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infrastructure that benefit the
Thanks
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ThisSpecial
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- Situating business operations as part of overall economic

development (e.g. roads and communications infrastructure in
James
YEO Ming Han
mining towns and nearby
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Risk Management
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ute
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- Financial Compact
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like toonthank
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Thomas THOMAS
Executive Director
Huilin
CHIN and Society
Community
their
nly
d
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Compact
Identifying
and Minimising
Negative
Impacts for CSR
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has
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While
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The
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this publication
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g
are
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o
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o
ompact
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toprogrammes
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Special
Thanks
to development
Research
Engagement
and
part
y be
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reproduced,
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not
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responsibility
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may
- Benefiting local communities e.g. educationSingapore
CHIN
Huishan
arise
from
information
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publication.
No
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Sustainability
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Singapore
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wouldinlike
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A View
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Philanthropy / Charitable Contributions
30

Product Responsibility
necessarily
s of
Singapore
Compact,
the view
its
- Ensuring
safety and quality of products and reflect
services
The
analysis and recommendations
of this
report do not
- Consideration
of impact of product
on consumers
andnecessarily
broader reflect the views of Singapore Compact, its
management
or members.
society (eg.committee
tobacco; food;
cellphone radiation)
Appendix 2: Further breakdown figures from Phase 1

Exhibit 1
SR in Singapore - Breakdown by Market Capitalisation
Big Enterprises
Medium Enterprises
Small Enterprises
Total
No. of Companies
with SR
No. of Companies
without SR
Total No. of
Companies
47
12
20
79
37
73
373
483
84
85
393
562
% of Companies
with SR
55.95%
Singapore
14.12%
5.09%
14.06%

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga

Thomas THOMAS
Exhibit 2
Huilin CHIN
Executive Director
SR in Singapore - Breakdown by Sector
No. of Companies
with SR
Thanks
ThisSpecial
report
wastoprepared
by 0
<No
Sector>
CHIN Huishan
No. of Companies
without SR
Total No. of
Companies
% of Companies
with SR
13
2
71
24
13
7
77
26
0.00%
71.43%
7.79%
7.69%
Page
31
AGR (Agriculture)
5 Xue Mei
Charlene TAN
COM
(Commerce)
6
James YEO
Ming
Han
Thomas THOMAS Executive
Director
CONS (Construction)
2
Singapore
Compact
for CSR
EGW
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0
1
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and Gas)
oject.
FIN (Finance)
5
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20.00%
Singapore
Compact would like to thank
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Certified Public Accountants
of Singapore
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Huilin
CHIN
Senior
Executive,
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and
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HOTELS
4
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28.57%
nly
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in
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MFG
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9.46%
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7.14%
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it
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42.11%
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James YEOofMing
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management
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Total
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14.06%
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Appendix 3: Further breakdown figures from Phase 2
Exhibit 1
Modes of Reporting and Communication
Separate Reporting
Integrated Reporting
13
66
Total
79
Singapore
Exhibit 2
Number of Sustainability Reports Audited and Verified
h and
Executive Director
Externally
GRI
No
of
Companies
Total Compact for CSR
R
Singapore
Audited
Verified
With SR
79

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Huilin
Using CHIN
GRI Framework Senior10Executive, Research and
4 Publications
Thanks
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CHIN Huishan
Exhibit 3 Category Scores

of Each
Sector
Charlene
TAN
Xue Mei
James
YEO
Ming
Thomas THOMAS Executive Director Han
Governance
Environment
Labour Rights
and Practices
Economic
Community and
Society
Accountants
ute of Certified
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<No Sector>
oject.
te for
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AGR
2.00
2.17
1.72
1.28
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1.67
0.28andfor
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2.50
0.33
1.90
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0.25
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ort
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The
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ompact
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No part of this publication may be reproduced, in any format,
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PROP
2.40
0.74
1.68
prior
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Compact for CSR.
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TAN
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SERV Singapore
1.71
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necessarily
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The
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James
YEO
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TSC
2.45
1.25
1.23
1.16
1.48
Exhibit 4
Indicator Scores within Each Sector Comparison to Overall Average
Figure AGRICULTURE
Agriculture Indicators: Comparison to Overall Average
5.00
4.50
4.00
3.50
3.00
2.50
2.00
1.50
Singapore
1.00
0.50
Governance
Environment
Labour Rights &

Practices
Executive Director
Huilin CHIN

C&S 4
C&S 3
C&S 2
C&S 1
Econ 5
Econ 4
Econ 3
Economic
Thomas THOMAS
AGR
Econ 2
Econ 1
LR&P 5
LR&P 4
LR&P 3
LR&P 2
LR&P 1
Envir 6
Envir 5
Envir 4
Envir 3
Envir 2
Envir 1
Gov 4
Gov 3
Gov 2
Gov 1
0.00
Community /
Society

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Overall Average
Figure COMMERCE
Commerce
Indicators:
ComparisonAssistants:
to Overall Average
Special
Thanks
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CHIN Huishan
5.00
4.50
4.00
James YEO
Ming Han
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3.00
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1.50Compact would like to thank the Institute of Certified Public Accountants of Singapore for
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good
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C&S 4
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Econ 5
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LR&P 5
LR&P 4
LR&P 3
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Envir 6
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Envir 4
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Methodology
PHASE 1:
The initial phase of the project was to determine the extent of sustainability reporting
among the listed companies in Singapore: How many companies actually engaged in some
form of non-financial reporting? This consisted of sourcing for any form of sustainability
reports from the companies website, within annual reports and report databases. If no
such report was found, the company would be contacted either through email or by
telephone, if provided. While these made up a large proportion of the mainboard listed
companies, only a small fraction replied. Furthermore, there were 32 companies that
were not contactable, with invalid or no websites and no email or local contact numbers.
Since sustainability reports should be accessible to stakeholders, it was assumed that the
Singapore
companies that did not reply or could not be reached did not issue reports.
PHASE 2A:
The next phase of the research focused on analysing the sustainability reports available.
Phase 2A aimed to gain an overview of the different approaches to sustainability
reporting. First, the various ways information was disseminated was examined, often as
separatedExecutive
reports orDirector
integrated into companies annual reports. This phase also noted if
Thomas THOMAS
reports followed
an Compact
international
of reporting (and if this was verified), or if
Singapore
for standard
CSR
companies used their own framework and if there were any indications of an external
Huilin CHIN audit

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
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Compact
forwas
CSRthe assessment of the breadth and depth of the
The final Singapore
phase of the
research
information disclosed in reports. A quantitative framework for qualitative assessment was
Special Thanks
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Assistants:
created
to analyse
the sustainability reports by different aspects under five broad
CHIN
Huishan
categories governance, environment, labour rights and practices, economic
Charlene
TAN Xue Mei
considerations
and community
and society. The framework acted firstly as a checklist to
James
YEO
Ming Han
Thomas THOMAS
Executive
see if the
reports Director
provided
information on each aspect; a 0-1-4-9 scoring system was
further Singapore
used to rankCompact
the level for
of detail
for each aspect. A key challenge lay
CSR and disclosure of
Accountants
in assessing the quality and depth of coverage in certain areas where Singap
information tended
oject.to be more qualitative than quantitative e.g. management processes. The quantitative
aims
to reduceResearch
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CHIN framework
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are
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framework
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reports
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not aim toreproduced,
be comprehensive
or exhaustive. Singapore Compact for CSR accepts no
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CHIN Huishan
this report
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38
its
Page
PHASE 2B:
Sustainability
Reporting
Singapore
Singapore
Compact
wouldinlike
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About the Singapore Compact for CSR

The Singapore Compact for CSR was founded by the National Tripartite Initiative for CSR in January
2005, with the National Trades Union Congress (NTUC) and the Singapore National Employers
Federation (SNEF) as founder members.
The Singapore Compact for CSR is a national society with over 350 members from all sectors including
big and small companies, institutions, government agencies, trade unions, academia, associations and
Singapore
NGOs. It is the country focal point of the UN Global Compact. It also serves as the secretariat for the
ASEAN CSR Network, a network of CSR networks in ASEAN.

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Singapore Compact for CSR was involved in the development of the ISO26000, international guidance
standard on social responsibility. It is an Organisational Stakeholder of the Global Reporting Initiative.
CSR, or Corporate Social Responsibility, is about accountability to all stakeholders rather than just
shareholders, and goes beyond legal compliance. As a business strategy and approach, it is valuedriven, and is embedded within an organisations principles, policies and practices.
CSR can help organisations minimise business risks and enhance their corporate reputation through
the implementation of sound business practices. Additionally, organisations which are able to align
their business operations with CSR principles can improve their efficiency, productivity and
sustainability.
Singapore Compact promotes a holistic approach to achieving meaningful and sustainable benefits for
pore
for
businesses and
stakeholders.
faith
for
the
sure
that
the
only and does
ss
which
may
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Page
41
Sustainability Reporting in Singapore

A View of the Sustainability Reporting Landscape in 2010
United Nations Global Compact

The UN Global Compact is a strategic policy initiative for businesses committed to aligning their
operations and strategies with ten universally accepted principles. Announced to the World
Economic Forum in 1999 by then UN Secretary-General Kofi Annan, and officially launched in
January 2000, the UN Global Compact is the worlds largest corporate citizenship initiative, and
has grown rapidly since initiation. The 10 principles of the Global Compact are:
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights;
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to
collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour;
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges
Principle 8: undertake initiatives to promote greater environmental responsibility;
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Singapore Compact for CSR is the country focal point for the UN Global Compact.

Membership with Singapore Compact for CSR

Members of the Singapore Compact for CSR include companies, government-linked organisations,
trade unions, cooperative societies, business associations, institutions, academia, VWOs, NPOs, NGOs
and other interest groups.
If your organisation has a goal of driving towards sustainable development, you should be a Singapore
Compact member. We invite you to subscribe to the Singapore Compact membership, and join other
like-minded organisations in the corporate social responsibility journey.
Singapore
We further encourage you to make a commitment to upholding the UN Global Compact principles in
the four main areas of Human Rights, Labour, Environment and Anti-Corruption.

10 Hoe Chiang R
Keppel Tow
Singapore 0
DID: 6827-6825 F
www.csrsinga
Members of the Singapore Compact benefit from our advisory and information services, members
rate for training courses, seminars and conferences on CSR best practices and developments. We also
facilitate the sharing of best practices and deliver regular updates on the CSR world.
Please do not hesitate to contact us at info@csrsingapore.org or 68276825. Further information can be
found on our website at www.csrsingapore.org.
Categories
Gold Membership*
Corporate Membership
Type of organisation
Annual fee
*
$1, 500
All companies, government
$250 (non-SME)
agencies
$150 (SMEs)
Institutional Membership
Trade unions, co-operative
societies, business
$150
associations
Associate Membership
Institutions, academia,
VWOs, NPOs, NGOs, interest
$100
groups
The gold membership scheme was introduced in 2010. It is a voluntary scheme for organisations to
do more in promoting CSR by providing more financial support. Gold members enjoy the same
benefits of ordinary members and abide by the same Constitution and Rules of the Singapore
Compact.

SINGAPORE COMPACT | ANNUAL REPORT 2010 | Working Together, Doing Good, Doing Well
The Singapore Compact for CSR is a national society whose key mission is to provide a multi-stakeholder
platform for collaboration in Singapore.
10 Hoe Chiang Road #22-01 Keppel Towers, Singapore 089315 www.csrsingapore.org
info@csrsingapore.org Tel. +65 6827 6825 Fax. +65 6827 6802
Initiated by the National Tripartite Initiative on CSR:
Singapore
Apex Business Chamber
Singapore Compact For Corporate Social Responsibility

10 Hoe Chiang Road #22-01
Keppel Towers
Singapore 089315
DID: 6827-6825 Fax: 6827-6802
www.csrsingapore.org
Copyright 2011
All rights reserved
This report is printed on 9 Lives Recycled Eco Friendly Paper - sponsored by Winpac Paper
This report is printed on environmentally friendly paper

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Sustainability

Singapore Compact For Corp

The Singapore Compact is initiated by the National Tripartite Initiative on CSR:

Singapore Compact For Corpor

This report was prepared by

Charlene TAN Xue Mei

prior written permission of Singapore Compact for CSR. Singapore Compact.

INTRODUCTION TO SUSTAINABILITY REPORTING ..............................................................................................3

Importance and Advantages of Sustainability Reporting ...........................................................................3

PROJECT OBJECTIVE AND RATIONALE ................................................................................................................4

Project Scope ..............................................................................................................................................5

Definitions and Assumptions ......................................................................................................................6

The Singapore Compact is initiated by the National Tripartite Initiative on CSR:

Singapore Compact For Corpor

5 COMMUNICATING AND ASSURING SUSTAINABILITY REPORTS .........................................................................9

ASSESSMENT OF SUSTAINABILITY REPORTS.................................................................................................... 11

Senior Executive, Research and Publications

Governance (Gov) Indicators ................................................................................................................... 12

Environment (Env) Indicators .................................................................................................................. 13

Economic (Econ) Indicators ..................................................................................................................... 15

Charlene TAN Xue Mei

prior written permission of Singapore Compact for CSR. Singapore Compact.

management committee or members.

1 INTRODUCTION TO SUSTAINABILITY REPORTING

Singapore Compact For Corpor

1.1 Importance and Advantages of Sustainability Reporting

Rebuild. Report. Retrieved September 23, 2011.

management committee or members.

2 PROJECT OBJECTIVE AND RATIONALE

The Singapore Compact is initiated by the National Tripartite Initiative on CSR:

Reporting by the Singapore Stock Exchange (SGX) underscores the

increasing emphasis on holistic disclosure of listed companies in Singapore.

Charlene TAN Xue Mei

Singapore Compact for CSR

Charlene TAN Xue Mei

prior written permission of Singapore Compact for CSR. Singapore Compact.

management committee or members.

PHASE 2A: Different Approaches to Sustainability Reporting

PHASE 2B: Assesment of Sustainability Reports

This report wasquantitative

Singapore Compact For Corpor

Thomas THOMAS Analysis

Senior Executive, Research and Publications

focus on the potential changes

Senior Executive, Research and Publications

3.2 Definitions and Assumptions

for the purposes of this paper.

Singapore Compact For Corpor

This report was prepared by

Senior Executive, Research and Publications

practising sustainability Singapore

Charlene TAN Xue Mei

prior written permission of Singapore Compact for CSR. Singapore Compact.

management committee or members.

4 OVERVIEW OF SUSTAINABILITY REPORTING (SR) LANDSCAPE

Figure 1: Small Proportion of Companies with SR

The Singapore Compact is initiated by the National Tripartite Initiative on CSR:

This report was prepared by

Singapore Compact For Corpor

Charlene TAN Xue Mei

Figure 3: Larger Company, Higher Likelihood of

Singapore Compact for CSR

The disparity in reporting rates could be due to the

management committee or members.