Today, Salesforce introduced the SASB Report Builder for Net Zero Cloud. This new feature empowers organizations to automate the disclosure of environmental, social, and governance (ESG) data in alignment with the International Financial Reporting Standards (IFRS) Foundation’s SASB Standards, which identify ESG issues most relevant to enterprise financial performance and value.
“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,” said Ari Alexander, VP and GM, Salesforce Net Zero Cloud.
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.
Ari Alexander, VP and GM, Salesforce Net Zero Cloud
Significance: With climate-related disclosure regulations like the E.U.’s Corporate Sustainability Reporting Directive and the proposed U.S. Securities and Exchange Commission climate rule, companies are under increased pressure to report high-quality ESG data using differing standards and rules. However, many companies view ESG reporting as an operational challenge, citing “inconsistent and unreliable data” and a lack of clear global reporting standards as pain points.
Go deeper: The IFRS Foundation’s International Sustainability Standards Board (ISSB) recently published its inaugural standards to establish a global baseline for reporting, with the SASB Standards serving as a key resource for high-quality implementation of the ISSB Standards. As the latest addition to the Net Zero Cloud Disclosure and Compliance Hub, the SASB Report Builder prioritizes ESG topics in accordance with the SASB’s industry-based standards, enabling organizations to better measure, manage, and disclose ESG data for their specific industry.
- The SASB Report Builder will be able to generate ESG reports across 14 industries in four key sectors: consumer goods, financials, services, and technology & communications.
- The SASB Report Builder expands on Salesforce’s Automate ESG Reporting, a solution that enables companies to manage ESG data in real time and easily generate framework-specific reports, streamlining the ESG reporting process to save time.
- Net Zero Cloud uses AI to deliver actionable reports, forecasting, and visual dashboards to enable companies to easily identify areas of inefficiencies and high emissions to create tangible plans to become more sustainable.
“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,” said Nicolai Lundy, IFRS Foundation’s Chief of Market Relationships.
Fast facts:
- More than 870 companies from the S&P Global 1200 Index use the SASB Standards in external communications to investors.
- In a 2022 EY survey, 60% of respondents indicated that their ESG information is found across a patchwork of software applications, while 55% of respondents are housing their ESG data in spreadsheets.
- 51% percent of the EY survey respondents also reported that within the past 12 months they have spent “substantial time and effort” addressing ESG data collection, aggregation, and disclosure.
Learn more:
- Learn why your company needs an ESG reporting strategy
- Read a joint letter from global CFOs, including Salesforce’s Amy Weaver, supporting the issuance of ISSB standards
- Read Salesforce research, which reveals 82% of employee respondents want to help their company reach climate goals
- Learn how Salesforce is driving greater accountability with ESG executive compensation
- Learn more about the Net Zero Cloud Collection on AppExchange
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