SAN FRANCISCO, Dec. 5, 2019 /PRNewswire/ -- The SASB Foundation, an independent nonprofit responsible for the funding and oversight of the Sustainability Accounting Standards Board (SASB), today announced the appointment of globally recognized corporate reporting expert Paul Druckman to its governing board. This action follows the SASB Standards Board's recent prioritization of standard-setting activities to ensure the global applicability of its metrics. Both moves demonstrate the organization's commitment to serving global capital markets with robust standards for the disclosure of financially material sustainability information to providers of capital.
Druckman comes to SASB after an impressive non-executive career that first focused on financial reporting and later extended to corporate governance, non-financial reporting and measurement, and sustainability. Druckman began his career as a Chartered Accountant before being an accounting software entrepreneur. He later became President of the Institute of Chartered Accountants in England & Wales (ICAEW) and was a board member for UK regulator the Financial Reporting Council as well as being chair of the Prince of Wales' Accounting for Sustainability executive board. Druckman was a pioneer in expanding the accounting field to consider non-financial value drivers, having founded the International Integrated Reporting Council and serving as its first CEO. He now Chairs the World Benchmarking Alliance and Clear Insurance Management, as well as chairing a major FRC project on the Future of Corporate Reporting.
"We are pleased to welcome Paul to the board. His expertise and background will be an asset to the organization," said Robert K. Steel, Chair of the SASB Foundation Board. SASB CEO Janine Guillot added, "Paul joins us at a time when the market is asking sustainability standard setters to work together and offer standards with the same robustness as financial reporting standards. Paul's background in both worlds will help SASB to navigate this evolving landscape."
Druckman is no less enthusiastic about joining the organization. "I have followed SASB's work for some time now and see it as a practical tool to implement the kind of integrated thinking and reporting I have long championed. I look forward to helping guide SASB at a pivotal point for the sustainability disclosure field, as companies, investors, and regulators are increasingly focused on the information needed to support long-term value creation."
The Sustainability Accounting Standards Board (SASB) Foundation is an independent, nonprofit standard-setting organization that develops and maintains robust reporting standards that enable businesses around the world to identify, manage, and communicate financially material sustainability information to investors. SASB standards are evidence based, developed with broad market participation, and are designed to be cost-effective for companies and decision-useful for investors. To download any of the 77 industry-specific standards, or learn more about SASB, please visit www.SASB.org.
SOURCE SASB: Sustainability Accounting Standards Board