The Singapore Stewardship Principles for Responsible Investors (SSP) aim to guide institutional investors on their stewardship responsibilities towards sustainable performance and delivering long-term risk-adjusted returns.
The SSP is developed and administered by a Steering Committee and supported by the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX).
The Singapore Stewardship Principles for Responsible Investors
Read the full document here.
Submit your case studies
Signatories are strongly encouraged to use the SSP as a guide for your submission.
08 June 2022
Development of the SSP
The SSP was introduced in 2016 and revised in 2022 to promote active and responsible investment.
The SSP Steering Committee started the process to enhance the principles in 2021, taking into account changing market developments. A public consultation to solicit feedback from the industry was issued in November 2021. Please click here to view the Steering Committee's response to the consultation.
The revised SSP was launched on 31 March 2022.
The following revisions were made:
The identification of governance structures guiding institutional investors' stewardship activities
The application of stewardship to asset classes beyond listed equities
The integration of ESG considerations into investment decision-making and stewardship practices
An outcomes-oriented approach to applying the Principles
Sign up to the SSP
SSP signatories can showcase the SSP logo to declare their commitment to the SSP. Signatories are highly encouraged to display the SSP logo on their websites and publications.Sign up to the SSP
*There are no fees required to join the SSP.
By signing up to the SSP, investors are demonstrating their intent to deliver long-term value for their clients and beneficiaries and enhance sustainability efforts in the investment value chain.
Click here for the list of organisations that have joined the SSP.
For more enquiries about the SSP, please contact us here.
SSP Networking Series
The SSP Networking Series gathers signatories and industry members to discuss key issues in the investment landscape. Following the launch of the revised SSP, we hosted our first in-person session since the pandemic in partnership with the Singapore Exchange Regulation. The session held on 17 October 2022 saw active discussions on "How can capital markets rebuild trust in the wake of ESG scepticism?"
SSP Steering Committee
About the SSP
Stewardship codes are developed to promote the responsible allocation, management and oversight of capital to create sustainable value for shareowners, beneficiaries and other stakeholders.
Stewardship codes aim to encourage investors to be effective stewards of assets entrusted in their care. The codes foster transparency, improve communication and enhance corporate governance for healthy markets.
Globally, stewardship codes have been introduced in over 20 countries, including Singapore.
The investment market has evolved since the SSP was first introduced in 2016. Investors have been called to prioritise stewardship outcomes and integrate ESG considerations into the investment process.
The Steering Committee considered these global market developments in revising the Principles. The main changes include:
- Requesting signatories, in line with their fiduciary duties, to integrate ESG criteria into their investment practices
- Encouraging signatories to adopt an outcomes-oriented approach when applying the SSP
- Recommending that signatories demonstrate how they apply stewardship in different asset classes
The SSP Steering Committee undertook research on stewardship codes in other jurisdictions and drew on best practices in drafting the Principles. An industry survey was conducted in March 2021 to garner feedback from the asset management industry on their perspectives of investment stewardship. This was followed by an open consultation to obtain stakeholders’ feedback on the draft of the updated SSP in November 2021. The enhanced SSP was officially launched in March 2022.
The SSP is not a set of prescriptive measures.
Using the Principles as an overarching framework, signatories can choose to apply the Principles or explain what they do to fulfil the aim of the Principles.
Signatories are strongly encouraged to submit evidence of their stewardship efforts annually to the Secretariat in a stewardship report supported by data and case studies.
Supporting the SSP
The SSP Steering Committee
The SSP is supported by the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX). The Principles should be read in conjunction with applicable local legislation and regulations. They are designed to complement stewardship codes that are in place in other jurisdictions and investors may wish to utilise the Principles alongside other local and international frameworks to achieve effective stewardship outcomes.
The Steering Committee was officially established on 2 November 2016. It comprises the following organisations:
• Stewardship Asia Centre
• Association of Chartered Certified Accountants
• Asia Pacific Real Assets Association
• CFA Society Singapore
• CPA Australia
• Investment Management Association of Singapore
• Institute of Singapore Chartered Accountants
• Securities Investors Association (Singapore)
• Singapore Institute of Directors
• Singapore Venture Capital & Private Equity Association