Should the FASB have a role in sustainability disclosures?

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Jan 13, 2017

In January 2017, the Financial Accounting Standards Board (FASB) released the newest FASB Outlook newsletter, which includes a contribution by FASB member Marc Siegel. The article is a reaction to questions raised as to whether the FASB should promulgate standards requiring corporate disclosures about sustainability or environmental, social, and governance (ESG) issues.

In the article, Mr. Siegel concludes that the answer to the question of whether FASB should engage in sustainability and/or ESG issues "is not binary". He notes that the Board engages where those issues are within the boundaries of financial reporting set forth by the FASB's Conceptual Framework, but that not all sustainability or ESG information is within the boundaries.

Review the article on the FASB's website.

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