Guide to “kick-start” sustainability reports

The Maritime and Port Authority of Singapore’s (MPA) guide provides a practical framework, including best practices for creating a maritime sustainability report, for both listed and non-listed maritime companies.

“We hope that this Guide can help kick-start many more Sustainability Reporting journeys in the maritime sector,” said Quah Ley Hoon, chief executive of MPA.

“I understand that this is the first sector-specific Guide developed since SGX introduced the “comply or explain” sustainability reporting requirements for publicly listed companies in 2016. It signals the commitment of the maritime industry to do our bit for the environment.”

Platform for sustainability

Ms Ley Hoon explained: “The Guide attests to MPA’s efforts to champion sustainability reporting for the maritime industry and serves as a platform to reach out to the maritime community on sustainability. It is also aligned with MPA’s efforts to serve the needs of our customers, create stronger partnerships in the new world and build a more sustainable future for Singapore and the region.”

The need for the guide was spurred by industry feedback on the growing need for sustainability reporting guidelines, said MPA, which began its own sustainability reporting in 2014. The guide features MPA’s sustainability reporting as a case study, including its internal sustainability initiatives through the years.

MPA created the guide with its partners – Singapore Exchange Limited (SGX), Global Compact Network Singapore (GCNS), Institute of Singapore Chartered Accountants (ISCA), and sustainability consultants from Ernst & Young LLP, KPMG and PwC Singapore.