Ingersoll Rand has extended its commitment to the environment by taking on an advisory role to the Sustainability Accounting Standards Board (SASB).
Earlier this month, we reported how Ingersoll Rand had improved its score on the Carbon Disclosure Project index, from 55 to 76.
Now the company has announced its appointment to the SASB Advisory Council, as the board works on the creation of sustainability standards across ten broad sectors and 89 specific industries.
Jeff Hynds, director of innovation for the Center for Energy Efficiency and Sustainability at Ingersoll Rand, says: “For us, sustainability is a business lever that helps deliver growth and productivity, while reducing business risk.”
First to receive the recommendations of the SASB will be the healthcare sector, with key performance indicators due to be calculated by the first half of 2013.
From there, the SASB will work with companies throughout the 89 relevant industries to create accounting standards and help organisations to address sustainability issues.
This, Hynds says, should see sustainability become much more transparent in company reports, in a similar way to the work done in years gone by on topics like reliability and quality.