|By PR Newswire||
|February 25, 2014 06:01 AM EST||
SAN FRANCISCO, Feb. 25, 2014 /PRNewswire/ -- The Sustainability Accounting Standards Board™ (SASB)™, a 501c3 non-profit organization that provides sustainability accounting standards for use by publicly listed corporations in the U.S., today released provisional standards for industries in the Financials sector. SASB standards help corporations comply with existing regulation, Regulation S-K, to disclose all material issues in the Form 10-K. SASB is accredited to set standards by the American National Standards Institute (ANSI).
SASB's provisional standards address the environmental, social and governance (ESG) issues likely to be material for companies in seven industries in the Financials sector: Asset Management & Custody Activities, Commercial Banks, Consumer Finance, Insurance, Investment Banking & Brokerage, Mortgage Finance, and Security & Commodity Exchanges. Examples of issues included are customer privacy and data security; integration of ESG factors in credit risk analysis, investment management and advisory; and responsible lending and debt prevention.
SASB standards—which identify the minimum set of sustainability issues for each industry—are designed to be cost effective for companies and decision useful for investors. The average number of sustainability issues in each Financials standards is four and 79 percent of suggested accounting metrics are quantitative.
"The Financials sector is unique, in that it's comprised of both issuers and investors," says Dr. Jean Rogers, Founder and Executive Director of SASB. "As issuers, Financials companies can compete and improve performance on the sustainability issues most relevant to business success. As investors, Financials companies can compare corporate performance on material sustainability issues and direct capital accordingly."
SASB's standards development process includes research supported by Bloomberg data, multi-stakeholder industry working groups, a public comment period, and review by an independent Standards Council. The working groups for the Financials sector— which included 302 registrants— represented publicly traded companies with more than $1.3 trillion market capital and investment firms with more than $5 trillion in assets under management. A full list of working group members can be found here. SASB's standards for the Financials sector will be considered provisional for one year after the issuance date. SASB welcomes feedback on the standards during the provisional phase.
"Our clients increasingly demand decision-useful sustainability information," says Daniel L. Doctoroff, CEO and President of Bloomberg L.P. "The release of SASB's Financials standards marks the beginning of a new era in market transparency and a new model for 21st century corporate reporting."
"The standards being developed by SASB are the clear answer to the compelling demand from almost all investors for broader disclosure of non-financial information," says Samuel Di Piazza, Jr., Retired CEO, PricewaterhouseCoopers, International. "The standards create comparative, industry-based benchmarks. Their adoption over time is simply inevitable."
Companies seeking assistance using SASB standards are invited to apply to the SASB Corporate Roundtable. SASB standards will be developed for 80+ industries in 10 sectors through the beginning of 2016. View the full schedule of SASB's standards development process here.
The Sustainability Accounting Standards Board™ (SASB)™ is an independent 501(c)3 organization that develops industry-specific standards for use in disclosing material sustainability issues in mandatory filings to the Securities and Exchange Commission. More than 1,000 individuals from individuals representing $13.9T assets under management and $5.7T market capital have participated in multi-stakeholder industry working groups informing standards development for five sectors to date. For more information about SASB, visit www.sasb.org, or follow us on YouTube, Twitter or LinkedIn.
SOURCE Sustainability Accounting Standards Board (SASB)
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Dec. 3, 2016 10:45 AM EST Reads: 2,136
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 3, 2016 10:45 AM EST Reads: 781
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 09:30 AM EST Reads: 823
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Dec. 3, 2016 09:30 AM EST Reads: 3,919
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 09:15 AM EST Reads: 693
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 3, 2016 09:00 AM EST Reads: 446
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Dec. 3, 2016 08:30 AM EST Reads: 1,354
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Dec. 3, 2016 08:30 AM EST Reads: 702
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 08:30 AM EST Reads: 487
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 07:30 AM EST Reads: 710
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 07:00 AM EST Reads: 514
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Dec. 3, 2016 06:30 AM EST Reads: 6,003
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 3, 2016 05:45 AM EST Reads: 6,923
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Dec. 3, 2016 05:30 AM EST Reads: 1,201
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 3, 2016 04:15 AM EST Reads: 1,719