SAN FRANCISCO, Dec. 21, 2017 /PRNewswire/ -- The Sustainability Accounting Standards Board (SASB) announced today that it will extend its current public comment period until January 31, 2018. The current comment period began October 2, 2017 and runs through December 31, 2017. This represents SASB's final public comment period prior to codification of its standards in the second quarter of 2018.
The decision to extend the public comment period was in direct response to stakeholder requests for more time to develop their comment letters. The extension is available to all parties, not just those who have formally requested an extension.
"While we have been pleased with the comments received to date and interactions we have had with issuers, investors and other interested parties, we understand the need for some parties to be given more time to provide a full and comprehensive response to our proposed standards," said David S. Post, Director of Research at SASB.
"The public comment period is an integral part of our structure and rigorous standard-setting process. We appreciate and respect the need to allow stakeholders more time to carefully craft their responses to our proposed standards," said Jean Rogers, SASB Founder and Chair of the SASB Standards Board.
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 SASB develops and maintains sustainability accounting standards—for 79 industries in 11 sectors—that help public corporations disclose material information to investors in annual SEC filings. The SASB's rigorous process, which includes evidence-based research and broad, balanced stakeholder participation, yields standards that are valued by investors and corporations alike because they are cost-effective and decision-useful. The SASB standards board comprises nine members with diverse backgrounds and expertise encompassing capital markets regulation and policy; investing; financial accounting; securities law; corporate finance, and sustainability. For more information, visit www.sasb.org and follow us on Twitter @SASB.