SASB Announces $1 Million Cash Contribution And Pro Bono Sustainability Services from PwC

SAN FRANCISCO, Nov. 6, 2014 /PRNewswire-USNewswire/ -- The Sustainability Accounting Standards Board (SASB), a non-profit organization playing a leadership role in helping create industry-specific sustainability accounting standards, today announced that PwC US will make a $1 million contribution and also provide $1.4 million in Pro Bono services and loaned employee support. 

PwC decided to join in this initiative believing that voluntarily providing investors with more relevant, transparent non-financial information and metrics to compare companies will help them make better investment decisions, which in turn, will help those companies thrive as better corporate stewards.

"Megatrends, such as resource scarcity and climate change, as well as some aspects of technology and urbanization, are major business challenges for many of our clients," said Shannon Schuyler, PwC Principal and President of the PwC Charitable Foundation, Inc.

"Our clients are actively thinking about the future of corporate reporting. SASB standards are intended to help companies identify, report and manage the sustainability issues that matter most to business and investors," Schuyler said.  "Our support of SASB, among other standard setting organizations, reflects our commitment to address social and environmental impacts in a forward looking manner," she added.

PwC's contributions to SASB will be both financial and services-based.  The financial commitment will come in the form of $1 million in direct financial support over the course of three years, while the services-based commitment consists of pro bono service and loaned employee support to provide subject expertise and thought leadership in corporate reporting.  PwC will also provide an assurance specialist directly to SASB to support efforts around reporting and disclosure controls.

"Since our inception, PwC has supported SASB by serving on our Advisory Council and participating in our Industry Working Groups," says Dr. Jean Rogers, SASB CEO and Founder.  "PwC's deepened commitment to SASB underscores their leadership in investing in the future of corporate reporting and their commitment to rigorous, high quality corporate disclosure of material sustainability factors for the benefit of investors."

SASB is looking to increase the usefulness of information available to investors, and improve corporate performance on the environmental, social, and governance issues most likely to impact value.

About PwC US

PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms, which has firms in 157 countries with more than 195,000 people. We're committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US.

© 2014 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

About SASB
The Sustainability Accounting Standards Board™ (SASB)™ is an independent 501(c)3 organization that develops industry-specific standards for use in disclosing material sustainability information in mandatory filings to the Securities and Exchange Commission. Dr. Jean Rogers is SASB's CEO and Founder, and 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. More than 1,900 individuals representing $21T assets under management and $9.5T market capital have participated in multi-stakeholder industry working groups informing standards development to date. For more information about SASB, visit www.sasb.org, or follow us on YouTube, Twitter or LinkedIn.

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

Contact: Amanda Medress, Associate Director, Communications, [email protected], 415-830-9220 ext. 106

SOURCE Sustainability Accounting Standards Board (SASB)

Related Links

http://www.sasb.org