SAN FRANCISCO, Nov. 11, 2020 /PRNewswire/ -- The Sustainability Accounting Standards Board (SASB), a global standard-setter connecting businesses and investors on the financial impacts of sustainability, has appointed Terence Jeyaretnam as a Senior Advisor for Australia. The new voluntary position was created in response to growing Australian interest in SASB, as indicated by increased adoption by companies and key large investors in the region.
As an environmental engineer and Partner at EY in the Climate Change and Sustainability practice, based in Melbourne, Jeyaretnam is well-known globally as a trusted advisor to companies on ESG best practice and disclosure. He has worked closely with GRI, AccountAbility, and the IIRC in various committees and governance roles, and has led non-financial reporting thought leadership in Australia including authoring the Australian Government's first environmental reporting guidance in 1998.
"SASB is building a network of senior advisors in key international markets to guide companies in meeting investors' focused demands for ESG disclosure," said Janine Guillot, CEO of SASB. "Terence's experience and network will support the growing use of SASB Standards in Australia and elsewhere in the Asia Pacific region."
SASB has gained support in Australia in 2020 with the addition of Future Fund (Australia's sovereign wealth fund) and Construction and Building Unions Superannuation (Cbus) to its Investor Advisory Group (IAG). Other new Asia Pacific IAG members in 2020 include Dai-ichi Life Insurance Company of Japan and the Singapore-headquartered global investment company Temasek, bringing the IAG to 55 members globally representing over US$41 trillion in assets under management. Australian companies that disclose SASB metrics include BHP, Transurban, and Westpac.
"We're pleased to see increasing use of SASB Standards from companies and investors based in Australia, amidst growing international momentum," said Joel Posters, Head of Investment Stewardship & ESG at Future Fund, and a member of SASB's Investor Advisory Group. "Over time, disclosure via SASB Standards will help improve the quality of ESG-related information investors need to better integrate consideration of these issues into our investment decision-making."
"Now more than ever, investors want comparable information about how companies are managing urgent environmental and social challenges," Jeyaretnam said. "SASB Standards help investors and companies drive performance through comparable, reliable, and decision-useful information."
About Terence Jeyaretnam: An environmental engineer and Partner at EY in the Climate Change and Sustainability practice, based in Melbourne, Jeyaretnam is EY's national leader for indigenous reconciliation, as well as the Diversity & Inclusion leader for EY's Melbourne office. He has been an integral part of EY's cultural diversity efforts. Prior to joining EY, Jeyaretnam founded Net Balance in 2006. Before it was acquired by EY in 2014, he succeeded in growing the firm to Australia's largest standalone sustainability and climate change advisory service. Net Balance was twice rated by Business Review Weekly as one of the Fast 100 growth companies in Australia. Jeyaretnam is on the Boards of Knowledge Media, Food Frontier and Fairtrade Australia New Zealand, and is an Adjunct Professor at University of Southern Queensland. He is a fellow of the Institute of Engineers Australia.
About SASB
SASB connects businesses and investors on the financial impacts of sustainability. SASB Standards enable businesses around the world to identify, manage, and communicate financially material sustainability information to investors. SASB Standards are industry-specific and are designed to be decision-useful for investors and cost-effective for companies. They are developed using a process that is evidence based and market informed. To download any of the 77 industry-specific Standards, or learn more about SASB, please visit SASB.org.
