The Sustainability Accounting Standards Board™ (SASB™) is a 501(c) 3 non-profit that develops accounting standards designed for the disclosure of material sustainability issues in annual filings to the SEC. Bloomberg is a key supporter of this effort since its inception in 2011. Bloomberg is also helping with SASB's "Materiality Map" of industry priorities by contributing data and analytic advice.
Consumers are becoming more eco-conscious and little by little, investors are too. A company that shows regular profits might look like a sound investment, but if that company engages in irresponsible practices that are likely to create an environmental catastrophe, investors should know about it. Not only would investing in that company promote irresponsible behavior, it might well yield poor returns when the company finds itself facing multiparty lawsuits.
SASB to create sustainability standards for 89 industries across 10 sectors
HERSHEY, Pa., Dec. 4, 2012 /3BL Media/ - The Hershey Company (NYSE: HSY) today announced it will join the Advisory Council of the newly founded Sustainability Accounting Standards Board (SASB) as part of Hershey’s commitment to reporting on its expanding sustainability practices. As a member of the Advisory Council, Hershey will help develop reporting standards for the food and beverage industry that will support greater transparency.