SAN FRANCISCO, Dec. 1, 2015 /PRNewswire-USNewswire/ -- The Sustainability Accounting Standards Board (SASB), a 501c3 non-profit organization that develops sustainability accounting standards for use by publicly listed corporations in the U.S, today issued a reference document for issuers who are in the process of integrating SASB standards into their existing 10-K or 20-F disclosure processes.
The SASB Implementation Guide for Companies is intended to help issuers achieve three objectives: 1) identify the industry-specific sustainability topics most likely to be material to an investor, 2) understand the current state of disclosure and performance on those topics, and 3) enhance existing reporting processes to more effectively disclose material information on sustainability topics.
"Companies have been requesting guidance on how to integrate SASB standards into their existing Form 10-K and 20-F preparation processes," says Jean Rogers, Founder and CEO of SASB. "In response, we developed the Implementation Guide, which addresses the key steps issuers will need to take to evaluate the materiality of sustainability factors, assess their current state of disclosure, and improve internal controls as needed. This will ensure companies effectively disclose investor grade information on material sustainability factors to the capital markets, thereby reducing the need to respond to multiple investor questionnaires."
"Financial reporting professionals have the unique opportunity to help their companies provide the information that investors want and markets need," says Robert Herz, Former Chair of the Financial Accounting Standards Board (FASB). "The Implementation Guide offers reporting professionals practical guidance on using and implementing SASB standards in SEC filings."
In addition to the publication of the guide, SASB is launching a partnership program for consultants and other corporate advisors. SASB Advisory Partners will help companies with key aspects of implementation, including materiality assessments, benchmarking performance and disclosure practices, facilitating the integration of SASB standards into existing business processes for risk management, and disclosing material information to investors.
The Implementation Guide for Companies is available free of charge on Using SASB, a site that connects companies and investors with relevant resources.
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 capitalization 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.
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SOURCE Sustainability Accounting Standards Board (SASB)