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  • ESG-1.1 ESG Key Performance Indicators

    • ESG-1.1.1

      Listed companies and licensees must submit an ESG report to the CBB on an annual basis. The ESG report must incorporate the ESG Key Performance Indicators (KPIs) stipulated under Appendix 1. The ESG report can either be a separate document or be included as part of the company's annual report.

      Added: January 2024

    • ESG-1.1.2

      The branches of foreign financial institutions must either submit the ESG Report of their respective head offices or provide a separate report. Similarly, companies operating under a group governance framework must either submit the consolidated group ESG Report or provide a separate report.

      Added: January 2024

    • ESG-1.1.3

      Listed companies and licensees must comply with the following requirements with respect to their ESG reports:

      (a) Disclosures must remain consistent over time. This entails using consistent formats, language, and metrics from one period to another to enable inter-period comparisons;
      (b) In cases where certain breakdowns are not easily discernible or relevant, alternative methods or simplified reporting mechanisms can be explored by the company. However, it is essential that the report adequately describes the mechanisms, assumptions, and other relevant details;
      (c) Organisations must refrain from providing generic or simplistic disclosures that offer little value. It is also important that any additional metrics are sufficiently descriptive;
      (d) Companies must avoid greenwashing1 their ESG reports. This can damage a company's reputation and erode stakeholder trust. Avoid making unsupported claims or using vague, undefined terms such as "green" or "sustainable" and instead provide specific and measurable information.
      (e) Provide definitions, reference period(s) and assumptions where relevant; and
      (f) Provide an explanation in case of non- or partial disclosure of KPIs stipulated under Appendix 1.
      Added: January 2024

      1 Greenwashing refers to the practice of making misleading or exaggerated claims about the environmental or social benefits of a product, service, or business practice.