© SASB

Sustainability Accounting Standards Board

SEC AMAC ESG Subcommittee 

Janine Guillot

CEO

October 17, 2020
SASB Overview
77 industry-specific 

disclosure standards

Used by companies 

and investors globally

SASB connects businesses 

and investors on the financial

impacts of sustainability

The Sustainability Accounting Standards Board

Non-profit standards-setting organization for financially material ESG information

3 10/15/2020 © SASB
SASB Cuts through the Noise

SASB standards are created for the market, by the market

4 10/15/2020 © SASB

Companies Investors

Decision-Useful

Cost-Effective

Financially Material

Industry-Specific

Evidence-Based

Market-Informed
Environment

• GHG Emissions

• Air Quality 

• Energy Management

• Water & Wastewater 

Management

• Waste & Hazardous 

Materials Management

• Ecological Impacts

Leadership & 

Governance

• Business Ethics

• Competitive Behavior

• Management of the Legal & 

Regulatory Environment

• Critical Incident Risk 

Management

• Systemic Risk Management

Social Capital

• Human Rights & 

Community Relations

• Customer Privacy

• Data Security

• Access & Affordability

• Product Quality & Safety

• Customer Welfare

• Selling Practices & 

Product Labeling

Human Capital

• Labor Practices

• Employee Health & 

Safety

• Employee Engagement, 

Diversity & Inclusion

Business Model 

& Innovation

Social 

Capital

Human 

Capital

Leadership 

& 

Governance

Environment

UNIVERSE OF 

SUSTAINABILITY 

ISSUES

• Product Design & Lifecycle Management

• Business Model Resilience

• Supply Chain Management

• Materials Sourcing & Efficiency

• Physical Impacts of Climate Change

A Starting Point: Five Broad Dimensions of Sustainability 

SASB’s research begins with a universe of ESG issues, then applies the industry lens

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Consumer Goods

▪ Apparel, Accessories & Footwear

▪ Appliance Manufacturing

▪ Building Products & Furnishings

▪ E-Commerce

▪ Household & Personal Products

▪ Multiline and Specialty Retailers & 

Distributors

▪ Toys & Sporting Goods

Extractives & Minerals Processing

▪ Coal Operations

▪ Construction Materials

▪ Iron & Steel Producers

▪ Metals & Mining

▪ Oil & Gas - Exploration & Production

▪ Oil & Gas - Midstream

▪ Oil & Gas - Refining & Marketing

▪ Oil & Gas – Services

Financials

▪ Asset Management & Custody 

Activities

▪ Commercial Banks

▪ Consumer Finance

▪ Insurance

▪ Investment Banking & Brokerage

▪ Mortgage Finance

▪ Security & Commodity Exchanges

Food & Beverage

▪ Agricultural Products

▪ Alcoholic Beverages

▪ Food Retailers & Distributors

▪ Meat, Poultry & Dairy

▪ Non-Alcoholic Beverages

▪ Processed Foods

▪ Restaurants

▪ Tobacco

Health Care

▪ Biotechnology & Pharmaceuticals

▪ Drug Retailers

▪ Health Care Delivery

▪ Health Care Distributors

▪ Managed Care

▪ Medical Equipment & Supplies

Infrastructure

▪ Electric Utilities & Power Generators

▪ Engineering & Construction Services

▪ Gas Utilities & Distributors

▪ Home Builders

▪ Real Estate

▪ Real Estate Services

▪ Waste Management

▪ Water Utilities & Services

Renewable Resources & 

Alternative Energy

▪ Biofuels

▪ Forestry Management

▪ Fuel Cells & Industrial Batteries

▪ Pulp & Paper Products

▪ Solar Technology & Project Developers

▪ Wind Technology & Project Developers

Resource Transformation

▪ Aerospace & Defense

▪ Chemicals

▪ Containers & Packaging 

▪ Electrical & Electronic Equipment

▪ Industrial Machinery & Goods

Services

▪ Advertising & Marketing

▪ Casinos & Gaming

▪ Education

▪ Hotels & Lodging

▪ Leisure Facilities

▪ Media & Entertainment

▪ Professional & Commercial Services

Technology & Communications

▪ Electronic Manufacturing Services & 

Original Design Manufacturing

▪ Hardware

▪ Internet Media & Services

▪ Semiconductors

▪ Software & IT Services

▪ Telecommunication Services

Transportation

▪ Air Freight & Logistics

▪ Airlines

▪ Auto Parts

▪ Automobiles

▪ Car Rental & Leasing

▪ Cruise Lines

▪ Marine Transportation

▪ Rail Transportation

▪ Road Transportation

Industries Grouped by Resource Intensity & Sustainability Impacts

Sustainable Industry Classification System (SICS®): 77 industries within 11 sectors

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No Two Industries Are Alike

SASB standardizes disclosure on the business-critical ESG issues for each industry, 

meeting investor needs for comparable, consistent and reliable information

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Sustainability Dimension

Environment

SICS Industry

Non-Alcoholic 

Beverages

SICS Industry

Software & IT 

Services

General Issue Category

Disclosure Topic

Accounting Metric

Water & Wastewater 

Management

(1) Total water withdrawn, (2) total 

water consumed, percentage of each 

in regions with High or Extremely High 

Baseline Water Stress

Energy Management

Water Management Environmental Footprint 

of Hardware Infrastructure

(1) Total energy consumed, (2) 

percentage grid electricity, (3) 

percentage renewable

Example: Environment dimension in Beverages vs. Software
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Learn more at:

https://www.sasb.org/standard-setting-process/current-projects/

Ongoing Process for Evolving the Standards

10 active Standard-setting & Research projects 

Conceptual Framework

Clarify and strengthen the core principles 

and concepts that govern SASB standards

Rules of Procedure

Ensure that the operations and standardsetting processes detailed in the document 

reflect SASB’s procedures today

Human Capital

Assess the scope and prevalence of various 

human capital management themes across 

SICS industries to develop a solid, 

evidenced-based view on this cross-cutting 

theme

Content Moderation on 

Internet Platforms 

(Technology & Communications 

sector)

Evaluate technology companies’ 

management of user-generated content, 

advertisements, and other third-party content 

to assess implications related to social 

capital

Plastics Risks and 

Opportunities 

(Pulp & Paper & Chemicals 

industries)

Assess investor interest in risks and 

opportunities associated with plastics use 

in the two industries

Systemic Risk 

(Asset Management industry)

Evaluate the Systemic Risk Management 

topic in the industry standard, including the 

topic’s scope and the usefulness of 

associated accounting metrics

Tailings Management 

(Extractives sector)

Evaluate the issue of tailings facility 

management in the Metals & Mining and 

Coal Operations industry standards, 

including scope and accounting metrics

Measuring Performance 

on Raw Materials 

Sourcing 

(Apparel, Accessories & Footwear 

industry)

Evaluate two metrics and associated 

technical protocols to examine and 

improve measurability, completeness, 

comparability, alignment, and costeffectiveness

Supply Chain 

Management 

(Tobacco industry)

Assess financial materiality of supply 

chain management and materials 

sourcing topics in the industry standard

Alternative Meat & Dairy

(Food & Beverage sector)

Assess implications on the Food & 

Beverage industry standards from 

increasing consumer demand for 

products with reduced environmental 

impact
Investor Support for SASB 

Standards
Insight Across Multiple Asset Classes 

SASB Standards enable ESG integration across multiple asset classes

▪ Data-driven corporate engagement

▪ Input to fundamental equity analysis

▪ Construct alternative indices

▪ Input to credit analysis and internal credit rating assignment

▪ Assess quality of disclosure for insight into risk

▪ Identify focus areas for fund and portfolio company due diligence

▪ Report to GPs and LPs on performance on material ESG topics

▪ Use SASB’s Infrastructure sector standards to guide risk 

assessment and performance reporting for real assets

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PUBLIC

EQUITIES

CORPORATE 

FIXED INCOME

PRIVATE 

EQUITY

REAL ASSETS
# of Countries 

Represented 6 9 14 19

0

20

40

60

80

100

120

140

160

180

2017 2018 2019 YTD 2020

Strong Global Investor Support for SASB Standards

Dramatic increase in investors around the world using and licensing the 

SASB Standards, representing ~$55T in AUM

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Investor Supporters

# of SASB Alliance/Investor Advisory Group Members and Licensees

Updated Aug 2020

154 firms 

in 

19 countries 

with 

$55T AUM 
SASB’s Investor Advisory Group Supports Improved ESG Disclosure

50+ members and $41T in assets

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Asset Owner IAG Members

© SASB
Asset Manager IAG Members

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SASB’s Investor Advisory Group Supports Improved ESG Disclosure

50+ members and $41T in assets

© SASB
IAG members support SASB Standards in a variety of ways:

▪ Engage directly with companies, asking companies to use the SASB Standards 

to guide disclosure to investors

▪ Participate in SASB’s ongoing standards development process (many IAG 

member firms are also members of SASB’s Standards Advisory Group)

▪ Encourage companies to participate in SASB’s ongoing standards development 

process

▪ Use the SASB standards to integrate sustainability factors into investment 

and/or stewardship processes, such as corporate engagement and proxy 

voting

▪ IAG helps drive adoption and use of the SASB standards through 5 working 

groups (Corporate Engagement, Messaging, Data Provider, UK/Europe, Asia 

Pac)

SASB Investor Advisory Group

IAG members advocate for companies to use the SASB Standards to guide ESG 

disclosure to investors

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Momentum: Investors Publicly Calling for SASB 

Visible support from two of the world’s largest asset managers

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“BlackRock believes that SASB provides a clear set of standards for 

reporting sustainability information across a wide range of issues...”

“...we are asking the companies that we invest in on behalf of our 

clients to publish a disclosure in line with industry-specific SASB 

guidelines by year-end...”

– Larry Fink, CEO, BlackRock

January 28

SSGA President and CEO Cyrus 

Taraporevala’s annual letter discussed 

the fact that SSGA’s “R-factor” ESG 

score leverages the SASB framework, 

and it encourages companies in the S&P 

500, FTSE 350, ASX 100, TOPIX 100, 

DAC 30, and CAC 40 to understand and 

work to improve their R-factor score.

January 14

BlackRock CEO Larry Fink’s 

annual letter to CEO’s called for all 

companies to “disclose in line with 

industry-specific” guidelines set out 

by the SASB by the end of the 

year. 
BlackRock and SSGA Statements Reflect Broad and 

Deep Base of Investor Support

Source: Morrow Sodali 2020 Institutional Investor Survey of institutional investors with $26 trillion in assets

GEOGRAPHIC DISTRIBUTION 

OF RESPONDENTS

Q: In the context of facilitating research on a company’s ESG performance 

and approach, what frameworks would you recommend that companies 

focus on to best communicate their ESG information? 

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SASB IAG & Alliance Members Hold Significant Percentage of 

Major Global Markets 

Total shareholdings in select indices*

*Mean shareholding by group members in free float of all securities in the index

** Alliance includes IAG

Source: IHS Markit, September 2020 

SASB IAG SASB Alliance**

S&P 500 36% 42%

S&P Global 1200 24% 29%

S&P Europe 350 19% 22%

S&P/TSX 60 22% 27%

S&P Asia 50 16% 19%

S&P Latin America 40 13% 16%

S&P/TOPIX 150 12% 14%

S&P/ASX All Australian 50 15% 16%
0

200

400

600

800

1000

1200

1400

2015 2016 2017 2018 2019 YTD 2020

# OF COMPANIES TOTAL SASB REFERENCES

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IAG Impact: Significant Growth of SASB References by Companies

Public References to SASB Are a Leading Indicator of Future Reporting

SASB References in corporate documents - Globally

• Over 2,000 references of 

SASB by public companies 

since 2018

• 43% of references come 

from U.S. companies

• 57% from non-US companies 

TYPES OF REFERENCES 

YTD 2020

61% Materiality Assessments

31% Metrics Reporting

6% General Reference

2% Participation

Updated August 2020
Recent Market Developments
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“Group of 5”: Joint Paper on Comprehensive Corporate Reporting 

Launched Early September

Main Messages:

▪ Five framework- and standardsetting institutions of international 

significance have come together to 

help resolve market confusion

▪ Provide joint market guidance on 

how our frameworks and standards 

can be applied in a compatible and 

additive way.

▪ Demonstrate a commitment to 

working together toward a coherent, 

comprehensive corporate reporting 

system. 
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International Federation of Accountants (IFAC) statement 

was released on same day as Joint Paper 

Calls for an International Sustainability Standards Board alongside the 

IASB

Source: https://www.ifac.org/knowledge-gateway/contributing-global-economy/discussion/enhancing-corporate-reporting-way-forward
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Reporting on the sub-set of

sustainability topics that are

material for enterprise value

creation

Reporting on matters that reflect the

organisation’s significant impacts on the 

economy, environment and people

Reporting

that is already

reflected in

the financial

accounts*

IASB, FASB

SASB, CDSB 

GRI

IIRC

Notes

* Including assumptions and cash flow projections

** Reflects the scope of the CDP survey, insofar 

as it functions de facto as a disclosure standard 

for climate, water and forests, as well as the 

scope of CDP’s data platform

CDP**

CDSB, IIRC and SASB 

filter the relevant subset of GRI/CDP topics

❑ “Nested” materiality 

concepts recognize 

different use cases

Complementary Standards Designed to be Used Together
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Sustainability reporting through 

various communication channels 

about the economic, environmental 

and social impacts caused by the 

organisation to meet the information 

needs of a diverse group of 

stakeholders

Annual integrated report

Reporting to stakeholders whose primary use of 

the information is to make economic decisions

Financial* GAAP Sustainability GAAP

based on evidence 

of significant impact 

on people, planet, 

economy

*Comprehensive value creation would also need to include manufactured and intellectual capital

Filter

based on evidence of impact on enterprise 

value creation*

Concept of a Comprehensive Global Corporate Reporting System
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“Group of 5” Joint Paper, along with the IFAC Statement, 

Received Significant Press and Positive Reaction

“CFA Institute has long supported efforts to achieve global accounting standards, and we 

support the proposal to do the same for sustainability standards...The time has come for 

regulators and other stakeholders globally to recognize the importance of consistent 

global standards as it relates to sustainability disclosures. A common language that 

enables investors to distinguish between financial value–relevant and values-relevant 

disclosures is important in serving the needs of ultimate investors and professional 

investors who work on their behalf to ensure their investment objectives are met.”

“We applaud the leading framework and standard-setting organizations for coming 

together with a joint vision toward a more consistent system for ESG reporting. A 

globally accepted system built from existing standards and frameworks, adapted to 

market needs, could help ensure companies put forth readily comparable ESG 

information.” 
Conclusion
▪ Publicly support the need for a comprehensive system of 

sustainability disclosure standards that would have similar market 

“legitimacy” as accepted accounting principles and standards

▪ Amplify the visuals and messaging in the “group of 5” joint 

statement, to help establish a common language to describe the purposes 

and uses of sustainability disclosure

▪ Support and reinforce the work of SASB’s Investor Advisory Group to 

communicate a clear message from investors to both companies and 

regulators

▪ Investors are rapidly coalescing around SASB and TCFD as 

foundational disclosures for the global capital markets, to be 

supplemented by broader societal impact disclosures (e.g. WEF IBC 

metrics) in certain markets

Toward a Market Standard

What AMAC can do to help

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Appendix: SASB Governance, 

Advisory Groups & Organizational 

Milestones
SASB Investor Advisory Group 

IAG Members include senior investment decision makers 

from major asset owners and asset managers

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Allianz Global Investors Dr. Steffen Hörter, Global Head of ESG

APG 

(All Pensions Group)

Egon Vavrek, Director Global Emerging Markets Equities, 

Fundamental Strategies

ATP Christian Kjaer, Head of Liquid Markets, Vice President

Ole Buhl, Head of ESG, Senior Vice President

AXA Investment Management Matt Christensen, Global Head of Responsible Investment

Bank of America Merrill 

Lynch

Anna Snider, Head of Due Diligence for the Chief 

Investment Officer, Global Wealth & Investment 

Management

BCI (British Columbia 

Investment Management

Corporation)

Jennifer Coulson, Vice President, ESG, Public Markets

BlackRock Michelle Edkins, Managing Director & Global Head of 

Investment Stewardship

Ray Cameron, Head of Investment Stewardship – The 

Americas

Boston Trust Walden Heidi Soumerai, Managing Director

Amy Augustine, Director of ESG Investing

Breckinridge Capital 

Advisors 

Peter Coffin, Founder & President

Rob Fernandez, Vice President & Director of ESG Research

Brunel Pension Partnership Faith Ward, Chief Responsible Investment Officer

Caisse de dépôt et placement 

du Québec (CDPQ)

Réjean Nguyen, Director, Investor Stewardship

CalPERS Dan Bienvenu, Deputy Chief Investment Officer, 

Total Portfolio

Simiso Nzima, Investment Director and Head of Corporate 

Governance, Global Equity

CalSTRS Christopher Ailman, Chief Investment Officer 

(IAG Chair Emeritus)

Kirsty Jenkinson, Investment Director, Sustainable 

Investment & Stewardship Strategies

Calvert Research and 

Management 

John Streur, President & CEO

John Wilson, Vice President, Director of Corporate 

Engagement

Capital Group Robert W. Lovelace, Vice-Chairman

Heather Lord, Senior Vice President, Strategy & Innovation, Global 

Head of ESG

CBUS David Atkin, CEO

Nicole Bradford, Portfolio Head, Responsible Investment

CPP Investments Richard Manley, Managing Director, Head of Sustainable Investing

Ben Lambert, Senior Portfolio Manager, Sustainable Equity

Dai-Ichi Life 

Insurance Group

Akifumi Kai, General Manager, Investment Planning Department

Miyuki Zeniya, Head of Sustainable Finance

Domini Impact 

Investments

Carole M. Laible, CEO

Corey Klemmer, Director of Engagement

Federated Hermes Eoin Murray, Head of Investment

Dr. Michael Viehs, Associate Director – ESG Integration

Fidelity Investments Pam Holding, Co-Head, Equity Division

Nicole Connolly, Head of ESG Investing and Portfolio Manager

Franklin Templeton 

Investments

Julie Moret, Head of ESG Multi-Asset Solutions

Future Fund Joel Posters, Head of Investment Stewardship & ESG

Goldman Sachs Asset 

Management 

John Goldstein, Managing Director, Head of the Sustainable Finance 

Group

Catherine Winner, Vice President, Global Head of Stewardship

Harvard Management 

Company

Michael Cappucci, Managing Director, Compliance 

and Sustainable Investing

Inclusive Capital 

Partners

Eva Zlotnicka, Founder & Managing Partner

Ivy Investment 

Management 

Company

Dan Hanson, Chief Investment Officer

Gil Scott, Director of Research

LACERA Jonathan Grabel, Chief Investment Officer

Scott Zdrazil, Senior Investment Officer

Legal & General 

Investment 

Management America

Aaron Meder, Chief Executive Officer

John Hoeppner, Head of US Stewardship 

and Sustainable Investments

CURRENT MEMBERS (Slide 1 of 2)
SASB Investor Advisory Group 

IAG Members include senior investment decision makers from major asset owners 

and asset managers

30 10/15/2020 © SASB

Putnam Investments Katherine Collins, Portfolio Manager and Head of Sustainable 

Investing

Paul Scanlon, Head of Credit Research

QMA (a PGIM 

company)

Margaret Stumpp, Senior Advisor

Pat Watral, Senior Governance Officer

RBC Lindsay Patrick, Managing Director & Head, Sustainable Finance, 

RBC Capital Markets

Melanie Adams, Vice President and Head of Corporate Governance 

and Responsible Investment, RBC Global Asset Management

RPMI Railpen Mads Gosvig, Chief Fiduciary Officer

Leo George, Head of Sustainable Ownership

Schroders Sarah Bratton, Head of Sustainability, North America

Andrew Howard, Head of Sustainable Investing

State Street Global 

Advisors 

Lynn Blake, Executive Vice President & Chief Investment 

Officer, Global Head of Beta Solutions

Ben Colton, Co-head Asset Stewardship

Robert Walker, Co-head Asset Stewardship

Sustainable Insight 

Capital Management

George Parker, Chief Operating Officer & General Counsel

Temasek Chin Yee Png, Deputy Chief Financial Officer, Head Financial 

Services

Gim Huay Neo, Managing Director, Sustainability

UAW Retiree Medical

Benefits Trust

Hershel Harper, Chief Investment Officer

Malcolm Goepfert, Deputy Chief Investment Officer

UBS Asset 

Management

Bruno Bertocci, Managing Director, Head of Sustainable Investors

Christopher Greenwald, Head of Sustainable and Impact Investing 

Research

Vanguard Glenn Booraem, Principal & Head of Investment Stewardship

Walden Asset 

Management

Heidi Soumerai, Managing Director & Senior ESG Advisor

Carly Greenberg, Manager of ESG Investing

Wells Fargo Asset 

Management 

Hannah Skeates, Co-head, Sustainable Investing

Jessica Mann, Head of Stewardship

Wespath Investment 

Management 

Nizida Arriaga, Manager, Fixed Income

Man Group Robert Furdak, CIO for ESG

Jason Mitchell, Co-Head of Responsible Investment

Steven Desmyter, Co-Head of Responsible Investment

Manulife Investment 

Management

Peter Mennie, Global Head of ESG and Risk

Margaret Childe, Managing Director, Head of ESG, Canada

Morgan Stanley 

Investment Management

Ted Eliopoulos, Vice Chair Investment Management & Head 

of Strategic Partnerships

Rui de Figueredo, Co-Head and Chief Investment Officer, 

Solutions & Multi-Asset Group

Neuberger Berman Joseph V. Amato, President of Neuberger Berman Group 

LLC, Chief Investment Officer of Equities

Jonathan Bailey, Managing Director and Head of ESG 

Investing

New York City 

Retirement Systems 

Alex Doñé, Deputy Comptroller & Chief Investment Officer, 

NYC Bureau of Asset Management

Michael Garland, Assistant Comptroller – Corporate 

Governance and Responsible Investment, NYC Office of the 

Comptroller

Nissay Asset Management Tomoaki Fujii, Co-CIO

Toshikazu Hayashi, Chief Analyst

Nordea Asset Management Eivind Lorgen, CEO & President, North America, IAG Chair

Katarina Hammar, Head of Responsible Investments

Norges Bank Investment 

Management

Wilhelm Mohn, Head of Sustainability Initiatives, Corporate 

Governance

Northern Trust Asset 

Management 

Christopher Shipley, Senior Vice President and Head of 

Fundamental Equities 

Ontario Teachers’ 

Pension Plan 

Deborah Ng, Director, Strategy and Risk

Walter Viguiliouk, Principal, Responsible Investing

Oregon State Treasury,

Investment Division

Anna Totdahl, Investment Officer, ESG & Sustainability

PGGM Investments Hans Op ‘t Veld, Head of Responsible Investment, 

IAG Vice Chair

PIMCO Del Anderson, Senior Vice President, Credit Research

CURRENT MEMBERS (Slide 2 of 2)
Governance and Oversight

Governance structure safeguards the independence and integrity of standard-setting

31 10/15/2020 © SASB

Standards Oversight 

Committee (SOC)

Oversight of due process of 

standard-setting activities

Governance & Nominating 

Committee

Nominates members for appointment to 

the Sustainability Accounting Standards 

Board by SASB Foundation Directors

THE SUSTAINABILITY ACCOUNTING STANDARDS BOARD

SASB FOUNDATION BOARD OF DIRECTORS

Advisory Groups or ad hoc 

Advisory Committees (external 

advisors) who provide input on 

practical and technical issues
32 10/15/2020 © SASB

Mary Schapiro – Vice Chair

Promontory Advisory Board Vice Chair

Former Chairman – SEC 

Janine Guillot

CEO

The SASB Foundation

Alan Beller

Senior Counsel

Cleary Gottlieb Steen & Hamilton

Rudi Bless

Chief Accounting Officer

Bank of America

Else Bos 

Executive Director and Chair 

Prudential Supervision 

De Nederlandsche Bank

Audrey Choi

CEO

Institute for Sustainable Investing, 

Morgan Stanley

Deborah L. DeHaas

Vice Chairman and National Managing 

Partner of the Center for Board 

Effectiveness, Deloitte

Paul Druckman

Chairman, World Benchmarking Alliance

Kenneth Goldman

President, Hillspire

Steven O. Gunders, CPA

Partner, Deloitte & Touche LLP (Retired)

Robert H. Herz

Former Chairman, FASB

Paula Loop

Assurance Partner and Leader of 

Governance Insights Center, 

PricewaterhouseCoopers

Jim McIntire

Former Treasurer, State of Washington

Laura Tyson, PhD

Director, Institute for Business and Social Impact

UC Berkeley Haas School of Business

Matthew Welch

President

The SASB Foundation

Jay Willoughby

CIO, TIFF

Chuck Zegar

Philanthropist, Co-Founder of Bloomberg LP

The SASB Foundation Board

Fiduciary duty to oversee the funding and operations of the SASB and staff

Robert K. Steel – Chair

Chairman

Perella Weinberg Partners

Michael R. Bloomberg

CHAIRMAN EMERITUS

Philanthropist, Founder of Bloomberg LP,

and three-term Mayor of New York City
The Sustainability Accounting Standards Board

Independent board responsible for all aspects of standard-setting

33 10/15/2020 © SASB

Jeffrey Hales, PhD 

Chair

Charles T. Zlatkovich Centennial Professor of Accounting

The University of Texas at Austin 

Sector Chair for Renewable Resources & Alternative Energy

Verity Chegar

Co-Vice Chair

Sector Chair for Extractives & 

Minerals Processing

Robert Hirth, Jr.

Co-Vice Chair

Senior Managing Director, Protiviti

Chairman Emeritus, Committee of 

Sponsoring Organizations of the 

Treadway Commission (COSO)

Sector Chair for Technology & 

Communications

Kurt Kuehn

Former CFO, UPS

Sector Chair for Transportation & 

Infrastructure

Lloyd Kurtz, CFA

Senior Portfolio Manager, Head of 

Social Impact Investing, 

Wells Fargo Private Bank 

Sector Chair for Health Care & 

Resource Transformation

Daniel L. Goelzer, JD

Retired Partner, 

Baker & McKenzie LLP

Sector Chair for Services

Elizabeth Seeger

Head of Sustainable Investing, KKR

Sector Chair for Consumer Goods

Marc Siegel

Partner - EY

Sector Chair for Financials

Susanne Stormer*

Chief Sustainability Advisor & 

Vice President, Novo Nordisk

Stephanie Tang, JD

Director and Senior Corporate 

Counsel, Securities and 

Corporate Governance

Autodesk

Sector Chair for Food & Beverage

Mark Vaessen*

Partner, Head of Department of 

Professional Practice, KPMG

* Appointment effective as of January 1, 2021
Provisional Standards Issued 2013-2016

▪ Jean Rogers 

founded SASB to 

meet investor 

demand

2011 2012 2013 2014 2015 2016

▪ Public launch of 

standards-setting 

activities

▪ Industry Working 

Group participants 

reached 1,000

▪ Launched Data Provider 

Partner Program and 

Fundamentals of 

Sustainability Accounting 

(FSA) Credential

▪ Industry Working Group 

participants exceeded 

2,800

8 industries in 

Infrastructure 

sector

6 industries in 

Health Care 

sector

▪ Michael Bloomberg 

and Mary Schapiro 

appointed as Chair 

and Vice Chair

▪ Harvard Business School 

published case on SASB

5 industries in 

Resource 

Transformation 

sector

15 industries in 

Consumption sector

6 industries in 

Renewable 

Resources & 

Alternative Energy 

sector

7 industries in 

Financials sector

6 industries in 

Technology & 

Communication sector

8 industries in 

Non-Renewable 

Resources sector

8 industries in 

Transportation sector

10 industries in 

Services sector

2017

▪ Established two-tier 

governance structure

▪ Launched the SASB 

Alliance

▪ Launched the Investor 

Advisory Group (IAG)

▪ Held inaugural SASB 

Symposium

SASB Organizational Milestones

2018

November 2018

Codified Standards issued 

for 77 industries in 11 sectors

▪ Launched the 

Standards Advisory 

Group (SAG)

2019 2020

▪ Number of corporate 

reporters reaches 100

▪ Launch of Bloomberg 

SASB ESG Index Family

▪ BlackRock and 

SSGA ask 

companies to 

use SASB 

standards

34 10/15/2020 © SASB