Sustainability Accounting Standards Board Names Michael Bloomberg as Board Chair

Former New York City Mayor Michael Bloomberg and former chair of the Securities and Exchange Commission (SEC), Mary Schapiro have taken up leadership positions with the Sustainable Accounting Standards Board (SASB). Bloomberg has been named as board chair and Schapiro as vice-chair of the organization.

SASB, a relative new entrant in the field of corporate reporting, was launched publicly less than two years ago. With the enlisting of powerful allies in the area of finance such as Bloomberg and Schapiro, the San Francisco-based nonprofit is set to extend its impact within the business and investment communities.

SASB provides an industry-specific reporting framework for crucial sustainability issues that integrates with the companies’ quarterly 10-K financial disclosures, which are required by the SEC. Bloomberg said that the idea that greater market transparency leads to better investment decisions lies at the core of SASB’s mission. 

Image Credit: Flickr via MTAPhotos

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Vikas Vij is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.