While all Singapore-listed firms were initially required to start making climate disclosures by 2025, under the revised rules, non-Straits Times Index (STI) issuers with a market capitalisation of S$1 billion (US$780 million) and above will only be required to comply from 2028, while those with under S$1 billion market capitalisation will be expected to follow from 2030. Over 550 listed companies – over 90 per cent of firms listed on the Singapore Exchange (SGX) – will be affected by the delay. Singapore's revised rules now puts the city-state – which was among the first in Asia to propose mandatory ISSB-aligned reporting for companies in 2023 – behind Malaysia in mandatory sustainability reporting requirements. Listed and large non-listed firms in the neighbouring Southeast Asian nation are expected to start ISSB-aligned reporting, including on Scope 3 emissions, by 2027.