On 15 April 2024, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, announced that a Singapore Emission Factors Registry (“SEFR“) will be set up to help Singapore businesses track and report carbon emissions more accurately, which can in turn help them make informed decisions aimed at reducing carbon footprint based on their environmental impact.
The current practice by most Singapore businesses for greenhouse gas emissions reporting, particularly for Scope 3 emissions, is to use emission factors (“EFs“) from international sources such as the US Environmental Protection Agency (EPA) and UK Department for Environment Food and Rural Affairs (DEFRA). Scope 3 emissions refer to indirect emissions from activities occurring in a company’s value chain but which sources are not owned nor controlled by the company. EFs are conversion factors to translate business activities into corresponding greenhouse gas emissions. With the SEFR, Singapore businesses will be able to rely on a database of EFs based on the local context to improve their emissions reporting.
The development of EFs will be carried out in phases. The initial baseload is expected to be ready by the end of 2024 and would cover EFs related to transportation, water, general waste, and energy, consolidated using data from various government agencies. EFs for new categories and activities will be developed based on demand and industry consultation.
The establishment of the SEFR is spearheaded by Singapore Business Federation (“SBF“) in partnership with the Agency for Science, Technology and Research (A*STAR), PwC and Singtel with the support of the Ministry of Trade and Industry and the Ministry of Sustainability and the Environment.
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