The Sustainability Accounting Standards Board (SASB) recently published what it billed as the world's first set of industry-specific sustainability accounting standards covering financially material issues.
Covering 77 industries, the standards are designed to help businesses better identify and communicate opportunities for sustaining long-term value creation. The standards address the subset of sustainability factors most likely to have financially material impacts on the typical company in an industry and are intended to help investors and companies make more-informed decisions.
The standards, available for download on the SASB website, are the culmination of a six-year effort that included extensive research and market consultation, with the engagement of prominent investors and businesses from all sectors around the world. SASB Chair Jeffrey Hales, Ph.D., said the standards address universal concepts that are important for investors and businesses around the world.