Board diversity disclosure requirements for listed companies
Asia Pacific
Singapore
Singapore
Access legislation
Gender
Yes
Minorities
LGBTQ+
Veterans
Applicable to
For annual reports for financial years commencing 2022, listed companies are required under the Singapore Exchange Listing Rules 710A to:
1) Maintain a board diversity policy that addresses gender, skills and experience, and any other relevant aspects of diversity.
2) Describe in its annual report its board diversity policy, including: its targets to achieve diversity on its board;
3) its accompanying plans and timelines for achieving the targets;
4) its progress towards achieving the targets within the timelines; and
5) a description of how the combination of skills, talents, experience and diversity of its directors serves the needs and plans of the company.
Key requirements
710A
(1) An issuer must maintain a board diversity policy that addresses gender, skills and experience, and any other relevant aspects of diversity.
(2) An issuer must describe in its annual report its board diversity policy, including the following:
(a) the issuer’s targets to achieve diversity on its board;
(b) the issuer’s accompanying plans and timelines for achieving the targets;
(c) the issuer’s progress towards achieving the targets within the timelines; and
(d) a description of how the combination of skills, talents, experience and diversity of its directors serves the needs and plans of the issuer.
Penalties