SASB issues provisional standards for the technology and communications sector

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04 Apr 2014

The Sustainability Accounting Standards Board (SASB) has issued provisional standards for industries in the technology and communications sector. The standards are the third set in a planned series of industry-related standards by the SASB on accounting for environmental, social, and governance (ESG) issues that could be material to a corporation’s performance.

The standards focus on material sustainability matters that corporations are already required to disclose in their Form 10-K or 20-F filings with the U.S. Securities and Exchange Commission. They provide standardized accounting metrics and concentrate on ESG issues applicable to six technology and communications industries:

  • Electronic manufacturing services and original design manufacturing
  • Software and IT services
  • Hardware
  • Semiconductors
  • Telecommunications
  • Internet media and services

The SASB plans to develop standards for more than 80 industries in 10 sectors. Its standards-setting process “includes evidence-based analysis with in-depth industry research and engagement with a broad range of stakeholders. The end result of this process is the creation of a complete, industry-specific accounting standard which accurately reflects the material issues for each industry.”

The Board’s first two sets of provisional standards focus on health care and financials.

The new provisional standards are available for download on the SASB website (registration required).

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