Financial Reporting on Sustainability Efforts

Jun 30, 2021, 3:52 PM

(from FEI Daily) "ESG has become much more important over the past few years," said Tim Gearty, director of Becker Professional Education, which has seen increased demand for professional development around environmental, social and ethical corporate governance. "It’s no longer something that’s just in the background; it’s more and more prevalent at the most important organizations to the finance function – the SEC, FASB, etc." The number one question he hears is, What standards can we use to report on our ESG efforts? He cited the Sustainability Accounting Standards Board (SASB) for reporting on industry-specific information that is financially material to the reporting company, and the Global Reporting Initiative (GRI), which addresses the impact of companies broadly on the planet and society. These standards may be integrated in the future.