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Burgess COMMENTARY Peter Burgess | ||
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Standards Overview
Materiality Map
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Why is Financial Materiality important? SASB standards focus on financially material issues because our mission is to help businesses around the world report on the sustainability topics that matter most to their investors. Although there is much environmental, social, governance (ESG) and sustainability information disclosed publicly, often it can be difficult to identify and assess which information is most useful for making financially-related decisions. SASB identifies financially material issues, which are the issues that are reasonably likely to impact the financial condition or operating performance of a company and therefore are most important to investors. Ultimately, companies decide what is financially material and what information should be disclosed, taking legal requirements into account. For more information about how SASB considers materiality in its standard-setting process, please see SASB’s standard-setting process page. The SASB Materiality Map® is an interactive tool that identifies and compares disclosure topics across different industries and sectors. For an interactive view of disclosure topics across industries, view the SASB Materiality Map®. For guidance on how to incorporate SASB standards into existing disclosure processes, including guidance on conducting materiality assessments, look out for SASB Implementation Guide for Companies (update to be released in early 2019). Corporate Use of Materiality Map® Focus sustainability strategies on the most important issues and understand the metrics that underpin each disclosure topic. Investor Use of Materiality Map® Analyze portfolio exposure to specific sustainability risks and opportunities represented by each issue. The SASB Materiality Map® is available as a basic reference to understand SASB standards. Other uses, such as institutionalized investment research, product development, commercial activities, and publishing, reprinting or creating derivative works, requires a licensing agreement with The SASB Foundation. For more information on commercial or research use, contact us at licensing@sasb.org. The idea of the Materiality Map® was first introduced by the Initiative for Responsible Investment at Harvard University in the white paper From Transparency to Performance: Industry-Based Sustainability Reporting on Key Issues. The current Materiality Map® is adapted from the evidence-based methods piloted in that study. ------------------------------------------------------------------------------------ Sustainability Framework Sustainability accounting reflects the management of a corporation’s environmental and social impacts arising from production of goods and services, as well as its management of the environmental and social capitals necessary to create long-term value. It also includes the impacts that sustainability challenges have on innovation, business models, and corporate governance and vice versa. Therefore, SASB’s sustainability topics are organized under five broad sustainability dimensions:
Although the “universe” of sustainability issues served as a starting point for the SASB’s standard setting, this extensive list was refined through a series of steps designed to identify those issues reasonably likely to have material impacts on companies in an industry. Because each of these issues tends to have a different impact or consequence depending on the context in which it arises, sustainable corporate activities will vary from one industry to another, meaning each industry has its own unique sustainability profile. The disclosure topics included in SASB’s industry-specific standards are therefore a sub-set of this universe of sustainability issues, tailored to the industry’s specific context. ------------------------------------------------------------------------------------ Consumer Goods Extractives & Minerals Processing Financials Food & Beverage Health Care Infrastructure Renewable Resources & Alternative Energy Resource Transformation Services Technology & Communications Transportation 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 – Service Financials Asset Management & Custody Activities Commercial Banks Consumer Finance Insurance Investment Banking & Brokerage Mortgage Finance Security & Commodity Exchange 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 EMS & ODM ⓘ 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 Environment GHG Emissions Air Freight & Logistics Airlines Auto Parts Automobiles Car Rental & Leasing Cruise Lines Marine Transportation Rail Transportation Road Transportation Air Freight & Logistics Airlines Auto Parts Automobiles Car Rental & Leasing Cruise Lines Marine Transportation Rail Transportation Road Transportation Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management Dimension General Issue Category Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Biofuels Forestry Management Fuel Cells & Industrial Batteries Pulp & Paper Products Solar Technology & Project Developers Wind Technology & Project Developers Click to expand Click to expand Click to expand Click to expand Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management Dimension General Issue Category ⓘ Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management Consumer Goods Extractives & Minerals Processing Financials Food & Beverage Health Care Infrastructure Renewable Resources & Alternative Energy Resource Transformation Services Technology & Communications Transportation Dimension General Issue Category Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Click to expand Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management /////////////////////////////////////////////////////// Hardware Internet Media & Services Semiconductors Software & IT Services Telecommunication Services Air Freight & Logistics Airlines Auto Parts Automobiles Car Rental & Leasing Cruise Lines Marine Transportation Rail Transportation Road Transportation Environment GHG Emissions Air Quality Energy Management Water & Wastewater Management Waste & Hazardous Materials Management Ecological Impacts 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 Product Design & Lifecycle Management Business Model Resilience Supply Chain Management Materials Sourcing & Efficiency Physical Impacts of Climate Change Leadership & Governance Business Ethics Competitive Behavior Management of the Legal & Regulatory Environment Critical Incident Risk Management Systemic Risk Management
| The text being discussed is available at | https://materiality.sasb.org/ and |