CORPORATE-INVESTOR D IALOGUE - Exploring Disclosure Effectiveness INTRODUCTION

In the wake of this trend, the number of companies using SASB Standards to disclose sustainability information to investors has increased more than 4X since the start of 2020. [...] To help identify, develop, and disseminate the most effective approaches, the SASB Alliance has convened several Corporate-Investor Dialogues: first, an in-person event in New York in the fall of 2019, a second virtual event in the summer of 2020, and a third virtual convening in the fall of 2020. [...] They represented and investors face to face to cut through the firms at various stages of maturity in terms noise and build a shared understanding of the of sustainability disclosure, including: characteristics of high-quality, decision-useful • U. [...] that would have been useful? • Focus: Separating investor-relevant content Format from content that is relevant to other • Was it easy to absorb/read the content stakeholders makes it easier for investors to in the format it was presented? find and use the information that is most useful • Is there a different format you to them. [...] “We have either tried to address the feedback in our upcoming ESG report or have put plans in place to try and address in the future.” ANALYZING THE DATA Investors understand that companies often prepare sustainability disclosure to serve a variety of different users with different objectives.