CRM solutions provider Salesforce announced the launch of the SASB Report Builder within its Net Zero Cloud sustainability management solution, expanding the platform with capabilities enabling users to automate the disclosure of ESG data, in alignment with the Sustainability Accounting Standards Board (SASB) standards.
SASB was founded in 2011, with the mission to establish industry-specific ESG disclosure standards for companies. The standards set by SASB are designed to enable investors to assess the materiality of reported sustainability information, and to compare companies on these metrics on a global basis. In 2021, SASB merged with the International Integrated Reporting Council (IIRC) to launch the Value Reporting Foundation, which subsequently announced its own consolidation into the IFRS Foundation at the launch of the International Sustainability Standards Board (ISSB).
The launch of the new capabilities comes as companies globally are coming under increasing pressure to meet climate and ESG regulatory requirements, many of which include or reference the SASB standards. Last week, the IFRS’ ISSB officially launched its new global sustainability and climate disclosure standards, which will require industry-specific disclosure and require companies to consider the SASB standards to identify sustainability-related risks, opportunities and related metrics.
Regulators in major jurisdictions around the world including Europe, the UK and the U.S., among others, have introduced or are preparing mandatory sustainability reporting requirements for companies, and most will be heavily influenced by the ISSB standards.
Nicolai Lundy, IFRS Foundation’s Chief of Market Relationships, said:
“We are very pleased to see Salesforce’s use of SASB Standards in their new SASB Report Builder. By integrating industry-based standards into the Net Zero Cloud platform, SASB Report Builder can help companies monitor, manage, and report the sustainability-related risks and opportunities relevant to their industry. This can also help companies prepare for new ISSB Standards.”
Salesforce launched Net Zero Cloud in 2019 (as “Sustainability Cloud”) to provide users with a 360-degree view of their environmental impact with the ability to track, analyze and report reliable environmental data, and last year the company released Net Zero Cloud 2.0, which integrated solutions from across Salesforce’s portfolio to add supplier collaboration technology from Slack, and the use of CRM dashboards from Salesforce company Tableau to provide sustainability insights. In December 2022, Salesforce added social and governance data management capabilities to Net Zero Cloud with the launch of its Automate ESG Reporting solution.
With its new SASB Report Builder, the company is adding to the platform’s ESG reporting capabilities with the ability to generate ESG reports across 14 industries across sectors including consumer goods, financials, services, and technology & communications.
Ari Alexander, VP and GM, Salesforce Net Zero Cloud, said:
“Expanding Net Zero Cloud with the SASB Report Builder is a significant next step toward helping organizations automate and streamline their ESG reporting process. Moving forward, we see tremendous potential in the power of generative AI to drive further ESG reporting efficiencies and to add value for our customers — helping them save time and costs while improving the state of the world.”