Governance Documents

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The Rules of Procedure and Conceptual Framework are two companion documents that establish the principles and processes of SASB’s approach to standards development. 

 

This Conceptual Framework sets out the basic concepts, principles, definitions, and objectives that guide the SASB in its approach to setting standards for sustainability accounting. The Rules of Procedure establish the processes and practices followed by the SASB in its standards-setting activities, and in its governance and oversight of related processes and practices undertaken by its staff.

 

Together, these documents provide direction for the SASB and its work.

2016 Public Comment Period

 

SASB opened the new SASB Rules of Procedure and the revised SASB Conceptual Framework for a 90-day public comment period from April 7, 2016 through July 6, 2016. For more information, read the Rules of Procedure Exposure Draft  and the Conceptual Framework Exposure Draft.

 

After considering feedback from the public and the SASB Board of Directors, SASB incorporated three key changes:

 

  • Independent Governance: SASB is adopting a two-tiered governance model with separation of financial responsibilities from the standards-setting activities. In the new model, an entity called the SASB Foundation will be responsible for finances and governance. The Foundation will delegate authority for standards setting to the SASB, a newly appointed technical board, which will be accountable for the due process, outcomes, and ratification of the SASB standards, including any changes to the standards going forward.
  • ANSI process to expert-led process: During the development of provisional standards, SASB was accredited by the American National Standards Institute (ANSI). Going forward, SASB standards will be developed under the authority of the SASB technical board, an expert-led development process.
  • Composition of Standards-Setting Body: Under the proposed rules the standards-setting body would have had equal representation from three key stakeholder groups. In the final rules, the SASB will include experts with standards-setting, financial reporting, or sustainability domain knowledge as it relates to material risks, but there will not be designated seat types.

 

To read comments received, please click here. To review a summary of SASB’s responses, please click here.  

2013 Public Comment Period

 

In 2013, SASB invited individuals and organizations to comment on an exposure draft of the original Conceptual Framework. The objective of the public consultation was to develop an improved Conceptual Framework that provided a sound foundation for the development of SASB’s sustainability accounting standards. The end of the 45-day comment period on SASB’s original Conceptual Framework was July 27, 2013. 

 

Review the comments on the exposure draft along with SASB’s responses. The original version of the Conceptual Framework is available here.