SAN FRANCISCO, May 11, 2017 /PRNewswire-USNewswire/ -- The SASB Foundation, an independent 501(c)3 non-profit that is responsible for the funding and oversight of the Sustainability Accounting Standards Board (SASB), today announced the nine members of the inaugural SASB Standards Board. As outlined in the SASB Rules of Procedure, the SASB Standards Board is accountable for the due process, outcomes, and ratification of the SASB standards, including any changes to the standards going forward. The nine members are:
- Verity Chegar, Vice President and ESG Strategist, BlackRock
- Daniel (Dan) L. Goelzer, JD, Senior Counsel, Baker & McKenzie LLP
- Jeffrey Hales, PhD, Professor, Georgia Institute of Technology – Ernest Scheller Jr. College of Business
- Robert Hirth, Jr., Chairman, Committee of Sponsoring Organizations of the Treadway Commission (COSO), Senior Managing Director, Protiviti
- Kurt Kuehn, Former CFO, UPS
- Lloyd Kurtz, CFA, Senior Portfolio Manager, Head of Social Impact Investing, Wells Fargo Private Bank
- Jean Rogers, PhD, PE, Founder and Former CEO, SASB
- Elizabeth Seeger, Director, KKR
- Stephanie Tang, JD, Senior Corporate Counsel and Assistant Corporate Secretary, the Clorox Company
Jean Rogers, SASB Founder and former CEO, will serve full-time as Chair of the SASB Standards Board. Jeff Hales, Chair of the former SASB Standards Council, will serve as Vice Chair. "For the last two years, we have worked to institute a rigorous process to codify and maintain our standards, as outlined in the SASB Rules of Procedure," says Jean Rogers. "I am honored to carry forward SASB's standards-setting work in the role of Chair, especially alongside this distinguished panel of experts."
"We have carefully considered and selected the members of the SASB Standards Board to represent a diversity of key perspectives, including individuals with expertise and experience in standards-setting, corporate reporting, and investing and financial analysis," says Alan Beller, JD, Chair of the Nominating & Governance Committee of the SASB Foundation. "Through the Standards Board's talented and diverse make-up and the establishment of the standard-setting process that it will follow, we seek to ensure the development of standards that result in disclosure of material, decision-useful information, while also being operational and cost-effective."
"A market standard for sustainability disclosure facilitates reliable and comparable data that diversified asset managers like BlackRock can use to inform their investment decisions—from fundamental analysis and engagement to portfolio construction," says Verity Chegar, Vice President and ESG Strategist at BlackRock. "I look forward to supporting the codification of SASB standards, and seeing companies adopt them."
The members of the SASB Standards Board are independent experts appointed by the SASB Foundation Board of Directors to adopt the standards, review and maintain the Technical Agenda, make proposed updates to the standards, and have overall responsibility for the standards-setting process. In fulfilling these objectives, the SASB meets quarterly, and voting meetings are open to the public via a web- or audio-cast. In addition, records of all official meetings—voting and nonvoting—are made public. For more information about the role of the SASB, please read the SASB Rules of Procedure. For bios of the members of the SASB, please click here.
About the SASB
Established in 2011, the Sustainability Accounting Standards Board (SASB) is an independent standards-setting organization dedicated to enhancing the efficiency of the capital markets by fostering high-quality disclosure of material sustainability information that meets investor needs. The mission of the SASB is to maintain sustainability accounting standards that help public corporations disclose material information to investors in SEC filings, such as the Forms 10-K, 20-F, and 40-F, in a cost-effective and decision-useful manner. The SASB maintains standards for 79 industries, focusing on sustainability-related factors that are reasonably likely to have financially material impacts. SASB's mission is accomplished through a rigorous process that includes evidence-based research and broad, balanced stakeholder participation. The SASB Standards Board is comprised of nine members with diverse backgrounds encompassing capital markets regulation and policy, investing, financial accounting, securities law, corporate finance, and sustainability matters. The Standards Board is responsible for setting the standards, maintaining technical agendas, responding to stakeholders, and proposing updates to the standards.
About The SASB Foundation
Established in 2017, the SASB Foundation is responsible for the financing, oversight, administration and appointment of the Sustainability Accounting Standards Board (SASB). The SASB Foundation also provides the market with education and resources that advance the use of SASB standards and the field of sustainability accounting. The SASB Foundation is an independent 501(c)3 non-profit.
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SOURCE Sustainability Accounting Standards Board (SASB)