What to communicate and to whom, and which tools to use, always have been pain points. Click on a highlighted cell at the sector-level and then on any highlighted cell at the industry-level to see suggested accounting metrics and additional information for each issue. For more information on commercial or research use, contact us at [email protected]. If a company’s consolidated operations span multiple industries, SASB recommends reviewing multiple industry standards to identify topics beyond those defined in its primary industry standard that may warrant disclosure to investors. Many companies that have implemented SASB standards have used multiple industry standards to provide investors with a complete picture of their performance on financially material sustainability issues.
Although there is much environmental, social, governance (ESG) and sustainability information disclosed publicly, often it can be difficult to identify and assess which information is most useful for making financially-related decisions. The SASB Materiality Map® is available as a basic reference to understand SASB standards. 'Sustainable Products' to Get a Boost from the EPA, CRD recently reported its initial BAP findings, State of Integrated and Sustainability Reporting 2018. how the main existing frameworks and standards are substantially aligned and complement each other; why GRI Standards are the most relevant for developing a separate sustainability report serving the needs of multiple stakeholders; and. What can those differences tell the company about the sustainability risks and opportunities it faces? Issue is not likely to be material for any of the industries in sector, Not likely a material issue for companies in the industry
Kristin Peterson, Director of Corporate Compliance at Kinder Morgan, agrees. Likewise, in the Electric Utilities & Power Generators industry, SASB metrics related to direct (Scope 1) greenhouse gas emissions may be less relevant to a power company that sources—but doesn’t generate—energy.
For those tasked with communicating their organization’s sustainability information, these are challenging times. SASB “Materiality Maps”™ Ultimately, SASB creates unique “Materiality Maps”™ for dozens of industries. A company determines for itself which standard or standards are relevant to the company, which disclosure topics are financially material to its business, and which associated metrics to report, taking relevant legal requirements into account. This, along with SASB materiality maps, may be particularly helpful for newer reporters in determining what is material for reporting, and for more standardized benchmarking. SASB groups such activities into five “sustainability dimensions”: the environment, human capital, social capital, business model and innovation, and leadership and governance. ✓ What sustainability matters that are not included in the SASB standard might the company wish to consider disclosing?
Sustainability: Corporate activities that maintain or enhance the ability of a company to create long-term shareholder value. It also includes the impacts that sustainability challenges have on innovation, business models, and corporate governance and vice versa. Also different is that CDP provides a questionnaire, as does the DJSI, to gather the data it does collect for its investor audiences. About his company, he notes, “our portfolio includes diverse products such as ice cream, tea, deodorant and soap, so we don’t fit neatly” into one industry or another. Sustainable Development Goals (SDGs). Ultimately, companies are responsible for determining which disclosure topics represent financially material risks and opportunities for their business and which associated metrics to disclose, taking the company’s business model, business strategy, and relevant legal requirements into account. Sustainability accounting refers to the measurement, management, and reporting of such activities. For guidance on how to incorporate SASB standards into existing disclosure processes, including guidance on conducting materiality assessments, please refer to the SASB Implementation Primer. The SASB Consultant Content Program is different than the SASB Alliance, a broad-based membership program which offers members a range of educational materials, member events, and discounts on SASB offerings. To begin this process, a company may wish to: Broadly speaking, SASB uses the word “sustainability” to refer to corporate activities that maintain or enhance the ability of a company to create long-term shareholder value. Companies can find out where they are classified within SICS by using the SICS Look-Up Tool on SASB’s website. By using the company’s subject matter experts to help assess the SASB metrics, identify those already being collected, and formulate plans for the rest, “we were able to wean down the list to something considerably more manageable” and make progress, she says.
That being said, he suggests, you can’t become paralyzed by the range of standards that may apply to your company’s operations. SASB’s standard-setting process is designed to surface the sustainability factors most likely to materially impact the financial condition or operating performance of companies in a given industry. If you are unable to find your company or think the classification needs to be reviewed, please contact us using our classification request form.
More recently, investors, especially institutional investors with longer-term time horizons, increasingly have turned to environmental, social and governance (ESG) data sources, such as MSCI and Sustainalytics. Thus, an important early step may be to review and align on foundational concepts and terminology to ensure clear communication.
SASB standards are intended to be a useful guide to this process. Please contact SASB by clicking on the flag (⚑) next to the company name if you think that your company’s “primary” industry needs to be reviewed. To download the SASB standards, click here. However, not all of these stakeholders get their sustainability information directly from company reports. As a result, identifying what a given corporation should disclose requires thoughtful consideration of key issues within the context of the organization’s unique circumstances. Analyze portfolio exposure to specific sustainability risks and opportunities represented by each issue. “SASB sets industry-specific standards for corporate sustainability disclosure, with a view towards ensuring that disclosure is material, comparable and decision-useful for investors”.
In the “Materiality Maps”™ sustainability issues are assigned scores based upon (i) evidence of interest, (ii) evidence of financial impact and (iii) forward-looking adjustment. Feedback from several companies suggests that the following approach may be helpful when assessing which industry standards apply, and subsequently in using those standards to disclose information: SASB standards are intended for use in communications to investors regarding sustainability issues that are likely to impact corporate ability to create long-term shareholder value.
For example, the SASB disclosure topic related to genetically modified organisms in the Chemicals industry may be irrelevant to a company that operates exclusively in the commodity and specialty segments of the industry (i.e., with no exposure to the agricultural segment). ✓ Which SASB disclosure topics from which industries appear to be relevant to the company’s long-term financial performance? SASB’s Materiality Map outlines how material ESG factors vary across 77 industries. For any SICS-related inquiries please email us at [email protected]. By entering its ticker symbol, a company can instantly find its primary SICS industry and download the appropriate industry standard. Institutional investors and issuers would benefit from analogous materiality maps …
Without a concerted effort, a report that is dozens of pages won’t appeal to a casual reader. マテリアリティマップの日本語版をご覧になるには、ここをクリックしてください To see a version of the Materiality Map in Japanese, please click here. In the interests of helping organizations sort through it all and maximize reporting effectiveness, the Corporate Reporting Dialogue (CRD) seeks to "identify [how] respective frameworks, standards and related requirements can be explained and aligned … through its Better Alignment Project" (BAP). For example, Roger Seabrook, Vice President of Finance, Marketing & Sustainability at Unilever, has shared his insights as a member of SASB’s Standards Advisory Group (SAG). Other uses, such as institutionalized investment research, product development, commercial activities, and publishing, reprinting or creating derivative works, requires a licensing agreement with The SASB Foundation. These firms digest company reports, but also collect and analyze many other public data sources to provide specific summaries and data sets for what investors need in their decision-making. In November 2018, SASB published these standards, providing a complete set of globally applicable industry-specific standards which identify the minimal set of financially material sustainability topics and their associated metrics for the typical company in an industry. Institutional investors and issuers would benefit from analogous materiality maps … In establishing a cross-functional team to implement SASB standards, it is important for an organization to ensure all internal parties share a common understanding of key terms like this one. Likely a material issue for companies in the industry. Add to that the recent increases in the types and volume of data; the number of reporting frameworks, standards and recommendations to handle it; and the interest from disparate stakeholder audiences with different needs — all without a significant increase in people dedicated to reporting.
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