Marc Siegel, a board member of the Sustainability Accounting Standards Board (SASB), a not-for-profit organization that sets standards for environmental, social, and governance (ESG) topics, recently shared his insights on increased investor attention to sustainability reporting and corporate interest in reporting sustainability information in a session at a New York State Society of CPAs event, “SASB: Overview, Trends in Adoption, Case Studies & SDG Integration.”
According to former Financial Accounting Standards Board (FASB) member Siegel, companies are being asked for sustainability information from many sides and are facing a bumpy road because they are under pressure due to pervasive market demand but do not have a mandated single set of reporting standards they must use. Requests may be narrow, notes Siegel, such as a climate change survey, but investors and rating agencies are increasingly interested and asking for more frequent and extensive reporting.
