Covering 77 industries, the standards were approved on Oct. 16, 2018, by a vote of SASB’s Standards Board after six years of research and extensive market consultation, including engagement with many prominent investors and businesses in various sectors. “What makes SASB standards unique in the marketplace is their focus on industry specificity and financial materiality, universal concepts that are important for investors and businesses around the world,” said SASB Chair Jeffrey Hales in a statement. “This is an important milestone for global capital markets. Companies and investors around the world now have codified, market-based standards for measuring, managing, and reporting on sustainability factors that drive value and affect financial performance.” Now that the standards have been published, SASB plans to follow a regular, multi-year cycle of updating the standards to ensure they stay and respond to changing market needs. To download any of the 77 industry-specific standards, visit www.sasb.org.

Posted by

Accounting Today