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SASB Signalling the future
Paul Druckman explains how SASB's industry-specific standards play a crucial role in the future of sustainability reporting.
Among these, the Foundation pointed to the recent Statement of Intent to Work Together Towards Comprehensive Corporate Reporting, co-authored by five organisations – CDP (formerly the Carbon Disclosure Project), the Climate Disclosure Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council and SASB. In this joint statement, the ‘group of five’ provide a shared vision for comprehensive corporate reporting and explain how their frameworks and standards individually complement one another as well as collectively complementing generally accepted financial accounting principles. The International Federation of Accountants has recommended the Foundation adopt the ‘building blocks’ approach outlined by the ‘group of five’.
Finally, the Financial Reporting Council recently published The Future of Corporate Reporting, a discussion paper in which my colleagues and I make the case that the significant developments in measurement and coalescence of standards currently taking place require a system to sit among. We believe we have articulated a new and viable system of corporate reporting that is based on objectives rather than audiences only, representing an agile network of reports that take into account modern technology enablement. We believe that this underpinning system is fit for purpose in today’s complex reporting landscape.