SAN FRANCISCO, Dec. 8, 2015 /PRNewswire/ -- The Sustainability Accounting Standards Board (SASB), a 501c3 non-profit organization that provides sustainability accounting standards for voluntary use by publicly listed corporations in the U.S, today announced that Deloitte will make a $1 million financial contribution and provide in-kind support to SASB.
Companies are increasingly disclosing a diverse range of financial and non-financial metrics to the investing public, including environmental, social, and governance (ESG) information. By supporting SASB's objectives and sustainability standards development, Deloitte is demonstrating its commitment to contributing to greater transparency and standardization of meaningful ESG disclosure to the market. As a result, Deloitte is well positioned to assist clients in navigating the emerging trends and practices related to sustainability disclosure.
"The corporate reporting landscape is evolving rapidly, as investors increasingly utilize a diverse set of financial and non-financial metrics to evaluate corporate performance. Deloitte is committed to being at the forefront of the corporate reporting evolution, ensuring that high quality standards are adopted and that information provided to the markets is both relevant and reliable," said Joseph B. Ucuzoglu, chairman & CEO of Deloitte & Touche LLP, leading Deloitte's audit business.
Kristen Sullivan, partner, Deloitte & Touche LLP, leads Deloitte's sustainability reporting, assurance and compliance services globally and in the U.S. Sullivan added, "We share SASB's commitment to advancing greater standardization and transparency around non-financial performance and disclosure by companies, and to helping organizations better communicate performance measured in both financial and non-financial terms."
Deloitte's contribution to SASB is both financial and services-based. The financial commitment is in the form of $1 million in direct financial support over the course of four years, while the services-based commitment consists of in-kind support to advise SASB on programming and resources to assist companies in integrating SASB standards into existing disclosure processes.
"Since our inception, Deloitte has taken a leadership role in SASB's development—retired Partner Steve Gunders was a founding board member, Partner Kristen Sullivan served on our Advisory Council, and many staff participated in our industry working groups," said Dr. Jean Rogers, SASB CEO and Founder. "Deloitte's strengthened commitment to SASB's success signals their leadership in helping promote high quality standards for use in disclosing sustainability information in a decision-useful format for investors."
Deloitte's commitment signals growing support for SASB, and greater standardization, transparency, and quality of sustainability reporting more broadly among the accounting and audit profession.
The Sustainability Accounting Standards Board™ (SASB)™ is an independent 501(c)3 organization that issues industry-specific standards for use in disclosing material sustainability information in filings to the Securities and Exchange Commission. Michael R. Bloomberg, founder of Bloomberg LP, and Mary Schapiro, former SEC chairman, serve as chair and vice chair of SASB's Board of Directors, and Dr. Jean Rogers serves as Founder and CEO. More than 2,800 individuals affiliated with $23.4T assets under management and $11T market capital have participated in multi-stakeholder industry working groups informing standards development. For more information about SASB, visit www.sasb.org, or follow us on YouTube, Twitter or LinkedIn.
As used in this document, "Deloitte" means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
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SOURCE Sustainability Accounting Standards Board (SASB)