World Library  
Flag as Inappropriate
Email this Article

Sustainability Accounting Standards Board

Article Id: WHEBN0036656098
Reproduction Date:

Title: Sustainability Accounting Standards Board  
Author: World Heritage Encyclopedia
Language: English
Subject: Business ethics, Environmental economics
Publisher: World Heritage Encyclopedia

Sustainability Accounting Standards Board

Sustainability Accounting Standards Board
Founded July 2011
Focus Sustainability accounting standards
Slogan "Accounting for a Sustainable Future"

The Sustainability Accounting Standards Board (SASB) is a incorporated in 2011 to develop and disseminate sustainability accounting standards. While the FASB has for the past forty years developed the accounting principles currently used in financial reporting in the United States, other social and environmental measures are now understood to be of relevance. The SASB aims to integrate its standards into the Form 10-K which must be filed by public companies with the U.S. Securities and Exchange Commission; in this sense it differs from initiatives such as the GRI, by working within the current system of financial regulation.[1] The general principle is, in Peter Drucker's phrase, "what gets measured gets managed".[2]

Industry specific

The SASB aims to meet the need for industry-specific reporting standards, to ease comparison and benchmarking.[1][3] In order to do so, a Sustainable Industry Classification System covering ten sectors and 80+ industries has been devised. From Q4 2012, industry-specific working groups are to convene to pursue the goal of completing the standards within two and a half years.[4][5] Key performance indicators will then be updated annually.[1][6] There is recognition that establishing what is material in information that is fundamentally non-financial is complex.[3][7]


During development SASB is to be funded by grants and donations, with the aim to be self-financing thereafter through intellectual property licensing, education and training.[5] Backers include Bloomberg Philanthropies and the Rockefeller Foundation.[1]

See also


  1. ^ a b c d Scott, Mike (24 June 2012). "US companies urged to put natural capital in accounts".  
  2. ^ Crooks, Ed (17 June 2012). "Calls for corporate disclosure of social impact".  
  3. ^ a b Eccles, Robert G. (et al.) (2012). "The Need for Sector-Specific Materiality and Sustainability Reporting Standards".  
  4. ^ "US Sustainability Accounting Standards Board created".  
  5. ^ a b "SASB - FAQ". SASB. Retrieved 7 August 2012. 
  6. ^ "The Sustainability Accounting Standards Board". SASB. Retrieved 7 August 2012. 
  7. ^ "Standards for Disclosure".  

External links

  • SASB homepage
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.