Financial Reporting Lab publishes a snapshot of uptake of SASB Standards

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08 Jul, 2021

The Financial Reporting Lab ("the Lab") has published a snapshot highlighting the adoption of Sustainability Accounting Standards Board (SASB) Standards by companies in the UK.

Whilst use of SASB Standards is voluntary for UK companies the Financial Reporting Council (FRC), in November 2020, issued a statement on non-financial reporting which encouraged companies use the SASB Standards. 

The snapshot shows that:

  • there has been an increase in uptake with 54 companies adopting the SASB Standards, the majority (38) of which are in the FTSE 100. 
  • Disclosures were largely provided in a separate sustainability report with 59% of companies choosing to disclose there.
  • The top four industries choosing to adopt SASB Standards are financials, services, resource and transformation and food and beverage.
  • Other frameworks being adopted by these companies include the United Nations Sustainable Development Goals (SDG), Carbon Disclosure Project (CDP), Taskforce on Climate-related Financial Disclosures recommendation (TCFD) and Global Reporting Initiative (GRI).

The snapshot provides examples of companies who have adopted the SASB Standards and includes some tips from the Lab to improve the useability and quality of reporting.

The snapshot is available on the FRC website.

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