Sustainability Accounting Standards Board (SASB) is a 501(c)(3) nonprofit established in 2011 for corporate sustainability assessment, and it is one of the key competitors of GRI. SASB distinguishes itself by focusing on communicating sustainability information to investors and establishing an accounting-based framework. It establishes a standard process to assess the material impacts of an industry and provides industry specific performance metrics. They claim to be the “first [sustainability assessment system] that truly enables comparison of peer performance and benchmarking within an industry”. Their vision and mission are outlined as:
SASB envisions a world where a shared understanding of corporate sustainability performance allows companies and investors to make informed decisions that drive value and improve sustainability outcomes.
The mission of SASB is to develop and disseminate sustainability accounting standards that help public corporations disclose material, decision-useful information to investors
SASB has seen some significant growth in the past couple years, but it maintains a distance third place in adaptation of their framework for corporate sustainability measurement behind the longer standing GRI and IIRC.
SASB does not currently have a framework for institutions of higher education, and thus is devoid of any participation from colleges and universities. It would be possible for them to institute a framework sometime in the future, but established universities would have little use for communicating to investors. Also, SASB is currently marketing only to corporate, for profit organizations which may turn off colleges and universities. However, perhaps a framework for communicating sustainability information to alumni and donors could be instituted.