The Sustainability Accounting Standards Board's Investor Advisory Group is growing, with 15 new members joining the group of asset owners and managers working toward sustainability-related disclosure, according to an announcement Wednesday at its London meeting.
The group also announced that Barbara Zvan, chief risk and strategy officer of the C$191.1 billion ($140.1 billion) Ontario Teachers' Pension Plan, Toronto, is the new chairwoman. She succeeds Christopher Ailman, CIO of the $233.9 billion California State Teachers' Retirement System, West Sacramento, and now IAG chair emeritus.
The advisory group was established by SASB in late 2016 and now has 44 firms with a collective $33 trillion in assets under management as members.
The newest 15 members come from Canada, France, Japan, Norway and the United Kingdom. That reflects the growing consensus for a global market standard for ESG disclosure, Ms. Zvan said in an interview. "As long-term investors, this kind of information is key to understanding our investments," she said. "We are all global investors."
SASB published 77 industry-specific sustainability accounting standards in November aimed at helping companies identify and communicate performance on the sustainability issues most relevant to financial performance.
Members of the Investor Advisory Group talk with companies about the value of international standards on sustainability disclosure. "We are trying to demonstrate the ways that we use this information, so companies understand its relevance," Ms. Zvan said.
The 15 new member institutions are: AXA Investment Managers; Brunel Pension Partnership; Caisse de Depot et Placement du Quebec; Canada Pension Plan Investment Board; Fidelity Investments; Franklin Templeton Investments; Harvard Management Co.; Hermes Investment Management; Legal & General Investment Management America; Manulife Investment Management; Neuberger Berman; Nissay Asset Management; Norges Bank Investment Management; Putnam Investments; and Schroders.