Ingersoll Rand Joins Advisory Council of Sustainability Accounting Standards Board (SASB)
SASB to create sustainability standards for 89 industries across 10 sectors
SWORDS, Ireland--(BUSINESS WIRE)--
Ingersoll Rand (NYSE:IR), a world leader in creating and sustaining safe, comfortable and efficient environments, is supporting the newly launched Sustainability Accounting Standards Board (SASB) by serving on its Advisory Council. The SASB brings together the knowledge and experience of various industry working groups to define the financial value of sustainability and promote sustainabilitys contribution to business success.
Ingersoll Rand has a long history of helping our customers be more competitive in responding to large global challenges, such as food safety, personal security and indoor comfort. Our ability to create value for our stakeholders by developing sustainable, innovative new products is rooted in the understanding that expectations are rising regarding raw materials, resource use and environmental performance, said Jeff Hynds, director of innovation for the Center for Energy Efficiency and Sustainability (CEES) at Ingersoll Rand and SASB Advisory Council member. For us, sustainability is a business lever that helps deliver growth and productivity, while reducing business risk.
The SASB aims to develop and disseminate sustainability accounting standards in 89 industries. SASB standards will identify, prioritize and describe material non-financial risks and opportunities, such as those involved in risk and supply chain management, as well as stakeholder engagement, and provide decision-useful information for the benefit of companies, investors and the public. The universe of sustainability issues the SASB will address for all industries includes: environmental, community, employees, customers, leadership and governance, business model and innovation, products and services, and supply chain.
Through its work, SASB will help company leaders understand the key performance indicators (KPIs) and material value of sustainability in their industries. Healthcare is the first sector the SASB will evaluate, with findings and KPIs planned to be released during the first half of 2013.
Ingersoll Rand will leverage the key performance indicators the SASB process will provide to increase the value we offer to customers and shareholders while raising sustainability to the same level of transparency as quality and reliability are today. Over time, the SASB will help companies better understand their fiduciary responsibility to address sustainability issues, noted Hynds.
The process will involve combining qualitative and quantitative research findings with the practical experiences of professionals in each industry. Additional information on the SASB, is available at sasb.org or read Why SASB is a Game Changer for Sustainable Business on GreenBiz.com.
About SASB: The Sustainability Accounting Standards Board" (SASB") is a registered 501(c)3 non-profit organization engaged in the development and dissemination of industry-specific sustainability accounting standards. SASB will establish an understanding of material sustainability issues facing industries and create sustainability accounting standards suitable for disclosure in standard filings such as the Form 10-K and 20-F. SASB addresses the unique needs of the U.S. market, establishing standards for integrated reporting that are concise, comparable within an industry, and relevant to all 35,000 publicly listed companies in the U.S.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating and sustaining safe, comfortable and efficient environments. Our people and our family of brandsincluding Club Car®, Ingersoll Rand®, Schlage®, Thermo King® and Trane®work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; secure homes and commercial properties; and increase industrial productivity and efficiency. We are a $14 billion global business committed to a world of sustainable progress and enduring results. For more information, visit www.ingersollrand.com.
Christopher Tessier, 704-877-7216
Source: Ingersoll RandCopyright Business Wire 2012