This table references the Standard for the Oil & Gas - Exploration & Production industry with links to where the relevant information can be found on our website and in . SASB's mission is to guide companies in making standard sustainability disclosures useful to investors. We expect to work with other groups as well. Final thoughts. The list below provides a diversity of examples. In 2020, 557 companies disclosed SASB metrics and 1,138 companies mentioned SASB in public company communications — an all-time high. Since 2019, the total number of unique SASB reporting companies has grown to 616; the majority of which are in the United States (55%). A Practical Guide to Sustainability Reporting . This represents 608 unique SASB reporters of the 1201 unique companies within the index. With so many ESG reporting frameworks on the horizon like GRI, SASB, IIRC, SFDR, IFC, TCFD and SDG. For those companies that are just getting started, the GRI and SASB collaboration will be greatly appreciated". The new standards are the culmination of SASB's efforts since its launch as a non-profit in 2011. Task Force on Climate-related Financial Disclosure (TCFD) From the GRI website, "Of the world's largest 250 corporations, 93% report on their sustainability performance and 82% of these use GRI's Standards to do so."GRI at a Glance ESG reporting group looking to enhance its standards by focusing on human capital management and other emerging material issues. Four global companies; UK-based Diageo, City . Companies should consider what non-financial information they report and whether it meets investor needs. As more companies look to measure their impacts, the way that they disclose their findings matters. # OF COMPANIES TOTAL SASB REFERENCES . The authors analyze the quality of ESG reporting by the 91 companies that adopted SASB's framework. SASB has now identified 91 companies that used their standards for their 2019 ESG reporting, although on close inspection only 89 of them (72% U.S., 8% EU, and 20% Other) have really done so. As a standard-setting organization, SASB does not offer compliance evaluations or certifications for reporting companies. The SASB standards are intended to address topics that fall within well-recognized (in the U.S. and . More recently, we announced plans to join forces with another organization, the International Integrated Reporting Council [IIRC] so we can better harmonize global corporate reporting standards. All reporting companies shall apply the updated versions of the Standards for reports covering annual periods beginning on or after January 1, 2022. GRI, SASB, CDP and CDSB set the frameworks and standards for sustainability disclosure, including climate-related reporting, along with the TCFD recommendations. The fourth module of this course presents the link between SASB and TCFD, as well as the key recommendations of the TCFD with respect to risks, opportunities, financial impacts, scenario analysis and climate-related issues in order to understand what organizations need to consider if they wish to report. If your company uses SASB Standards in communications with investors but is not listed, please let us know. SASB is an independent standard-setter and does not provide advisory or assurance services. In furtherance of our ESG goals, ADT is aligning its reporting to the Sustainable Accounting Standards Board ("SASB") voluntary framework. This is Cummins' first report using the SASB platform. The IIRC provides the integrated reporting framework that connects sustainability disclosure to reporting on financial and other capitals. Standards such as those of GRI and SASB help ensure that companies report high-quality information that can be sourced by all relevant stakeholders, including data aggre-gators and raters, and ultimately used to inform decisions by companies and their stakeholders. On July 12, 2020, SASB and GRI announced an initiative aimed at creating basic ESG reporting standards and clarifying the methodology used to grade companies' ESG reporting. To kick the series off, we discussed the future . A long-time leader in GRI-informed sustainability reporting and consulting, CSE is taking on the next hot reporting trend - SASB - the Sustainability Accounting Standards Board. and the SASB aligned reporting Commentary Investors' need for more fulsome information on how companies are managing climate-related risks and opportunities and adapting their corporate strategy in line with the transition to a lower carbon economy is increasing. data. Asset managers and asset owners develop unique ESG scoring methodologies rather than relying solely on third party ratings firms. This is Cummins' first report using the SASB platform. Both are guided by materiality. Practical guide shares experiences of using both sets of standards togetherSan Francisco and Amsterdam, April 08, 2021 (GLOBE NEWSWIRE) -- Joint research from the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) explores the experiences of companies that use the two sets of standards together to fulfil their reporting needs. The number of SASB Standards reporters increased 215% between 2020 and 2021 and 375% between 2019 . For those tasked with communicating their organization's sustainability information, these are challenging times. Of those, 196 are in the Standard & Poor's Global 1200 index. Corporate reporting software makes it easier for companies to leverage SASB Standards in ERM, ERP . The SASB Standards, which are maintained by the Value Reporting Foundation, provide guidance on the disclosure of sustainability information by companies to investors. INDUSTRY SPECIFIC. "SASB and GRI understand that the sustainability disclosure landscape can appear complicated," the two organizations said in a July 13, 2020, statement. Still, SASB and GRI understand that the sustainability disclosure landscape can appear complicated, and for companies that use both sets of standards, the reporting effort can be high. The Sustainability Accounting Standards Board (SASB) provides a collection of industry-specific standards to help measure and communicate performance on environmental, social and corporate governance (ESG) topics. Sustainability Accounting Standards Board ("SASB") SASB is an independent non-profit organization that sets standards to guide the disclosure of financially material sustainability information by companies to their investors. This has created confusion for . SASB is a nonprofit organization established to connect businesses and investors on the financial impacts of sustainability. San Francisco and Amsterdam, April 08, 2021 (GLOBE NEWSWIRE) -- Joint research from the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) explores the experiences of companies that use the two sets of standards together to fulfil their reporting needs. Travelers Sustainability Accounting Standards Board Report 2323 2 In addition to providing wide-ranging disclosure on our website regarding our approach to sustained value creation, which integrates environmental, social and governance factors, The Travelers Companies, Inc. (together with its consolidated subsidiaries, Travelers As CEO of the Value Reporting Foundation, Janine's priorities are to increase use of the Integrated Thinking Principles, the Integrated Reporting Framework, and SASB Standards by companies and investors around the world and work with a broad range of stakeholders to advance progress towards a globally accepted comprehensive corporate . A Practical Guide to . In addition, the ISSB will complete the consolidation of the Value Reporting Foundation (VRF) - an international NGO that houses the Integrated Reporting Framework and the Sustainability Accounting Standards Board (SASB) Standards - by the end of June 2022. For this reason, many companies opt to report with both SASB and GRI. Our voluntary disclosures in this report focus on the SASB metrics that demonstrate our management of relevant ESG risks and opportunities. Public References to SASB Are a Leading Indicator of Future Reporting SASB References in corporate documents - Globally . GRI and SASB reporting 'complement each other'. 2020 SASB INDEX REPORT ADT Inc. (the "Company") places a strong focus on our environmental impact, social responsibility, and corporate governance. It's been one year since the Sustainability Accounting Standards Board (SASB) launched its 77 industry-specific reporting standards, and the non-profit . The resources—including Integrated Thinking Principles, the Integrated Reporting Framework and SASB Standards—can be used alone or in combination, depending on business needs. There is no obligation for companies to report their SASB-aligned disclosures directly to SASB, as this information is designed to be in the public domain. In general, a company would use the SASB standard for its primary industry as identified in SICS ®. No, a company does not need to join the SASB Alliance or pay any other fee to disclose information using SASB Standards. (These links are provided as a convenience and . MARKET INFORMED. Although not a framework like GRI, SASB, and TCFD; many companies choose to publicly report their carbon . To help companies interpret the need for their reporting strategies, BSR has conducted interviews with the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), and the International Integrated Reporting Council (IIRC). SASB has placed Cummins in the Industrial Machinery . 2020 | SASB Standards Table 2 The Sustainability Accounting Standards Board (SASB) is an independent non-profit organization that sets standards to guide the disclosure of financially material sustainability information by companies to their investors. Ultimately, the company should make its own determination of which metrics to consider (as referenced in Section 3, above). - SASB: Established in 2011, The Sustainability Accounting Standards Board (SASB) was a non-profit organization that provides standards for sustainability information - designed to be financially material to investors. "We maintain the SASB Standards through an iterative project-based model that helps us strengthen our Standards as market issues, understanding and best practices evolve," says Dr. Jeffrey . Over 120 companies are currently using the SASB standards, including JetBlue, Nike, and General Motors. While there are some significant differences between the various ESG reporting frameworks, clearly there is a lot of overlap. Fannie Mae's disclosures in this report focus on the SASB metrics that demonstrate the company's management of relevant ESG risks and opportunities. This week I want to talk about SASB's standards and whether companies who report under the GRI's methodology should look into them as a complement or a substitute. 2 This is Cummins 2019 Sustainability Accounting Standards Board (SASB) Report Index. 102-50 Reporting period 2020 Business & ESG Report - About This Report, p. 60 102-51 Date of most recent report April 2020 102-52 Reporting cycle The Coca-Cola Company reports annually on its sustainability progress and performance. ESG reporting is a primary focus today as stakeholders prioritize corporate risk policies and strategies towards sustainable future. Reporting standards are changing, and they will continue to evolve over the next 18 months. Data, analytics and research firms incorporate a SASB Standards lens or add-on to their existing or new product lines. The Sustainability Accounting Standards Board (SASB) and the International Integrated Reporting Council (IIRC) are to merge into one organization by mid-2021, offering investors and companies a comprehensive corporate reporting framework to drive global sustainability performance. Quantitative Reporting currency FB-PF-270a.4 In calendar year 2020, the company resolved three legal proceedings associated with marketing and/or labeling practices for a total of $59,205. The independent arm of the SASB sets sustainability disclosure standards that are industry-specific . Stated simply, GRI looks at the company's impacts on the world and the SASB looks at the world's impacts on the company. Hales A company considering use of SASB standards self-determines which standard(s) is relevant, which disclosure topics are financially material to its business, and which associated metrics to report, taking relevant legal requirements into account. SASB is not a data provider. 39% of top 10 companies in 12 sectors have used the SASB Standards to provide information in a manner that is most relevant to their financial stakeholders, such as their current and potential investors TCFD REPORTING The TCFD recommendations We believe both frameworks can work together to give companies and their stakeholders a comprehensive view of how businesses can create shareholder value, but, importantly, also help create the conditions for sustainable . According to the board, as of mid-September this year, there were 341 companies, 198 U.S. and 143 foreign, that adopted SASB standards in 2020. SASB has placed Cummins in the Industrial Machinery . Companies opt to disclose SASB data through a variety of channels, including annual reports to shareholders, integrated reports, sustainability reports, stand-alone SASB reports, and investor relations websites. The SASB Standards, which are maintained by the Value Reporting Foundation, provide guidance on the disclosure of sustainability information by companies to investors.
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