German translations are now available for the SASB Standards for 77 industries as announced by The Value Reporting Foundation. Following on from French and Spanish translations, the German translations have been welcomed, with Japanese translations coming soon.
German-domiciled companies such as Adidas, BASF, Bayer, Daimler, Deutsche Bank, Merck and Siemens and BASF has been involved in SASB’s standard-setting process since 2014. In a case study, Dr. Stefanie Wettberg, Senior Vice President of Investor Relations, says: “Analysts and investors demand robust information on material ESG topics to be able to holistically assess a company’s medium and long-term performance. They need sector-specific information to derive the appropriate benchmarks. SASB [Standards] meet this need by providing a structured framework for the relevant KPIs by industry.”
In Europe, use of SASB Standards is ever increasing. While there were 59 European companies reporting with the SASB Standards as of the end of 2020, there are now 283 European SASB reporters. This represents a 380% increase year over year. Of the 283 companies, 173 are in the S&P Euro 350 index (thus, 49% of Europe’s top companies disclose using SASB Standards). Additionally, the co-headquarters of the new International Sustainability Standards Board (ISSB) will be in Frankfurt.
“Germany is quickly becoming a global sustainable finance hub. Bolstered by the recent announcement that it will be the seat of the ISSB Board, I am pleased that today’s publication of German translations of the SASB Standards will help companies meet the demand resulting from this emerging focus on robust sustainability disclosure. Furthermore, I’d like to recognize the German business leaders at the forefront of the global momentum toward standardization of sustainability disclosure. Use of SASB Standards by companies and investors around the world continues to accelerate at a phenomenal pace and robust translations play a vital role in meeting this demand,” states Value Reporting Foundation CEO Janine Guillot.
As SASB Standards are becoming more widely used globally, due to regional or jurisdictional differences, the SASB Standards Technical Staff has found that the applicability of select disclosure topics or accounting metrics may be limited. Guidance on how to disclose modifications made to metrics to improve their applicability to a particular company is provided by both the SASB Standards Application Guidance and Implementation Primer (also available in German). Additionally, the Staff is working to develop the international applicability of SASB Standards via its Standards Internationalization Advancement Project—feedback is encouraged.
Dr. Florian Kiy and Jens Berger from Deloitte Germany reviewed the translated Standards and underlying translation glossary. The Value Reporting Foundation is grateful for their support.
To download the translated Standards, click here.