London Stock Exchange Group welcomes the Sustainability Accounting Standards Board (SASB)
London Stock Exchange Group (LSEG) today welcomes the Sustainability Accounting Standards Board (SASB), which develops and maintains robust reporting standards that enable businesses around the world to identify, manage and communicate financially-material sustainability information to their investors. SASB standards are evidence based, developed with broad market participation, and are designed to be cost-effective for companies and decision-useful for investors.
To celebrate the launch of SASB's codified standards and increased adoption around the world, Jeffrey Hales, Chair of the SASB Standards Board, along with Janine Guillot, SASB Director of Capital Markets Policy and Outreach; and Steven Gunders, Treasurer of the SASB Foundation Board; were welcomed by David Warren, CFO of London Stock Exchange Group to open London trading this morning.
"We thank the London Stock Exchange for hosting us as we commemorate this important milestone in our efforts to move the capital markets toward better data disclosure on material sustainability topics. What makes SASB standards unique in the marketplace is their industry-specific design, their emphasis on communication to investors and their focus on financial materiality, a universal concept important for investors and businesses in all markets around the world. The standards are the culmination of six years of research and extensive market consultations and engagement, representing not just the work of the SASB, but input from many of the largest asset managers and owners, and businesses from all sectors."
David Warren said:
SASB’s codified standards represent an important development for global markets. Together with a number of other initiatives like the Task Force on Climate-Related Disclosures (TCFD) and the Global Reporting Initiative (GRI), SASB facilitates the development of a common language and shared understanding for sustainable investment. This helps businesses and investors to better identify, measure and report opportunities for long-term, sustainable value creation. We at London Stock Exchange Group welcome and applaud the launch of these standards."