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On SGX's Voyage to corporate sustainability: Exploring emerging topics in multi-industry corpora Cover

On SGX's Voyage to corporate sustainability: Exploring emerging topics in multi-industry corpora

Open Access
|Jun 2025

Figures & Tables

Figure 1

Example of an SGX annual report from Yongnam Holdings Ltd.
Example of an SGX annual report from Yongnam Holdings Ltd.

Figure 2

Locally linear embedding on SGX report. China Star Food Group Ltd. and Yongnam Holdings Ltd. are food processing and steel manufacturing companies, respectively. Source code: https://github.com/QuantLet/Financial-Report-Analysis-BERT-W2V-GLOVE/blob/master/LLE_wordEmbeddings.ipynb.
Locally linear embedding on SGX report. China Star Food Group Ltd. and Yongnam Holdings Ltd. are food processing and steel manufacturing companies, respectively. Source code: https://github.com/QuantLet/Financial-Report-Analysis-BERT-W2V-GLOVE/blob/master/LLE_wordEmbeddings.ipynb.

Figure 3

SGX Companies’ sector distribution.
SGX Companies’ sector distribution.

Figure 4

LDA plate notation. The subscript is dropped in the diagram.
LDA plate notation. The subscript is dropped in the diagram.

Figure 5

Limited presence of sustainability-related topics. Note that the x-axis is represented in percentage (%).
Limited presence of sustainability-related topics. Note that the x-axis is represented in percentage (%).

Figure A1

Hellinger distance distribution of Company Overview corpora.
Hellinger distance distribution of Company Overview corpora.

Figure A2

Hellinger distance distribution of Leader’s Words corpora.
Hellinger distance distribution of Leader’s Words corpora.

Figure A3

Coherence scores for Company Overview corpus.
Coherence scores for Company Overview corpus.

Figure A4

Coherence scores for Leader’s Words corpus.
Coherence scores for Leader’s Words corpus.

Figure A5

Evolutions of number of optimal topics on Company Overview and Leader’s Words corpora.
Evolutions of number of optimal topics on Company Overview and Leader’s Words corpora.

Figure A6

2010–2011 Company Overview corpus’s top topics.
2010–2011 Company Overview corpus’s top topics.

Figure A7

2011–2012 Company Overview corpus’s top topics.
2011–2012 Company Overview corpus’s top topics.

Figure A8

2012–2013 Company Overview corpus’s top topics.
2012–2013 Company Overview corpus’s top topics.

Figure A9

2013–2014 Company Overview corpus’s top topics.
2013–2014 Company Overview corpus’s top topics.

Figure A10

2014–2015 Company Overview corpus’s top topics.
2014–2015 Company Overview corpus’s top topics.

Figure A11

2015–2016 Company Overview corpus’s top topics.
2015–2016 Company Overview corpus’s top topics.

Figure A12

2016–2017 Company Overview corpus’s top topics.
2016–2017 Company Overview corpus’s top topics.

Figure A13

2017–2018 Company Overview corpus’s top topics.
2017–2018 Company Overview corpus’s top topics.

Figure A14

2010–2011 Leader’s Words corpus’s top topics.
2010–2011 Leader’s Words corpus’s top topics.

Figure A15

2011–2012 Leader’s Words corpus’s top topics.
2011–2012 Leader’s Words corpus’s top topics.

Figure A16

2012–2013 Leader’s Words corpus’s top topics.
2012–2013 Leader’s Words corpus’s top topics.

Figure A17

2013–2014 Leader’s Words corpus’s top topics.
2013–2014 Leader’s Words corpus’s top topics.

Figure A18

2014–2015 Leader’s Words corpus’s top topics.
2014–2015 Leader’s Words corpus’s top topics.

Figure A19

2015–2016 Leader’s Words corpus’s top topics.
2015–2016 Leader’s Words corpus’s top topics.

Figure A20

2016–2017 Leader’s Words corpus’s top topics.
2016–2017 Leader’s Words corpus’s top topics.

Figure A21

2017–2018 Leader’s Words corpus’s top topics.
2017–2018 Leader’s Words corpus’s top topics.

Identity narrative_

YearNumber of reportsIdentity narrative
SustainableGHGCarbonClimate change
201036533361
201136635250
201236846280
201336859280
201436540290
201536655280
2016365642120
201736765080
201836457090
Total3,29445415731

Strategic narrative_

YearNumber of reportsStrategic narrative
SustainableGHGCarbonClimate change
20103651913337
20113662114284
20123682262282
20133682631111
2014365256390
20153662971107
20163653184142
20173674460187
20183644560267
Total3,2942,6641817737

SGX’s roadmap on sustainability reporting

DOI: https://doi.org/10.2478/mmcks-2025-0006 | Journal eISSN: 2069-8887 | Journal ISSN: 1842-0206
Language: English
Page range: 47 - 80
Submitted on: May 22, 2024
Accepted on: Oct 21, 2024
Published on: Jun 26, 2025
Published by: Society for Business Excellence
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2025 Xinwen Ni, Min-Bin Lin, Simon J. D. Schillebeeckx, Wolfgang Karl Härdle, published by Society for Business Excellence
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.