Wespath Joins SASB Working Groups
The General Board of Pension and Health Benefits (General Board) and its Wespath Investment Management division has been involved in the Sustainability Accounting Standards Board (SASB) since early 2013. SASB advocates for the disclosure of material sustainability metrics and is in the process of establishing ESG (environmental, social, governance) standards for Securities and Exchange Commission (SEC) filings. SASB’s mission is the “creation and dissemination of sustainability accounting standards for use by publicly-listed corporations in disclosing material sustainability issues for the benefit of investors and the public…With SASB industry-specific standards in place, companies compete and improve performance on the sustainability issues that matter most and investors drive capital to the most sustainable outcomes.”
General Secretary Barbara Boigegrain represents the General Board on SASB’s Advisory Council, a network of industry, sustainability and financial professionals who advise, support and promote SASB’s work. In addition, Wespath’s Anita Green recently joined SASB’s non-renewable resources and food working groups. These groups, along with groups focusing on other industry sectors, are helping to develop metrics that investors may use to compare companies on the management of their ESG risks and opportunities.
SASB already has released provisional standards for health care sector companies and will be releasing standards for companies in the financial sector later this year. Standards for companies in the technology and communications sector are scheduled for release in early 2014.
More information can be found here.