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With Workiva's Sustainability Reporting solution, you can use Sustainability Explorer to browse and explore Sustainability Accounting Standards Board (SASB) Standards for Environmental, Social, and Governance (ESG) or sustainability reporting. This includes the 2023-12 revisions of the SASB Standards, published by the International Financial Reporting Standards (IFRS) Foundation's International Sustainability Standards Board (ISSB).

Note: The 2023-12 revisions are effective for all entities, for annual reporting periods beginning on or after January 1, 2025. 

Tip: From Sustainability Explorer, you can also view IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information or IFRS S2: Climate-related Disclosures from the ISSB. To learn more, view Use IFRS Sustainability Disclosure Standards in Sustainability Explorer.

What changed

The IFRS Foundation published the 2023-12 revisions to align the industry-based SASB Standards with the cross-industry guidance of IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information. These revisions include:

• Internationalization of every industry except Infrastructure - Real Estate (IR-RE), which was updated with other climate-related metrics in the 2023-06 revisions
• The introduction of metric EM-SV-320a.3, Extractives & Mineral Processing - Oil & Gas - Services | Number of road accidents and incidents
• The removal of requirements within some metrics

  Tip: If your Program metrics' Related Explorer content align with items within metrics, review the 2023-12 revisions for deprecated requirements to determine whether to continue their data collection for the 2025 reporting year.

The 2023-12 revisions replace some metrics:

• Within the Health Care (HC) sector:
  • HC-MC-240a.3: Managed Care | Percentage of proposed rate increases receiving “not unreasonable” designation from Health and Human Services (HHS) review or state review
  • HC-MC-250a.1: Managed Care | Average Medicare Advantage plan rating for each of the following plan types: (1) Health Maintenance Organization (HMO), (2) Local Preferred Provider Organization (PPO), (3) regional PPO, (4) Private Fee-for-Service (PFFS), and (5) Special Needs Plan (SNP)
  • HC-MC-260a.3: Managed Care | Number of customers receiving care from Accountable Care Organisations or enrolled in Patient-Centred Medical Home programs
  • HC-MS-240a.1: Medical Equipment & Supplies | Ratio of weighted average rate of net price increases (for all products) to the annual increase in the U.S. Consumer Price Index
• Within the Infrastructure (IF) sector, IF-EU-150a.2: Electric Utilities & Power Generators | Total number of coal combustion residual (CCR) impoundments, broken down by hazard potential classification and structural integrity assessment
• Within the Services (SV) sector, SV-ED-260a.5: Education | Program cohort default rate
• Within the Transportation (TR) sector, TR-AF-430a.1: Air Freight & Logistics | Percentage of carriers with Behavior Analysis and Safety Improvement Category (BASIC) percentiles above the Federal Motor Carrier Safety Administration (FMCSA) intervention threshold

The 2023-12 revisions also remove metrics, with no replacements:

• From the Consumer Goods (CG) sector:
  
  • CG-HP-250a.2: Household & Personal Products | Revenue from products that contain substances on the California DTSC Candidate Chemicals List
  • CG-TS-250a.2: Toys & Sporting Goods | Number of Letters of Advice (LOA) received
• From the Health Care (HC) sector:
  • HC-BP-240b.1: Biotechnology & Pharmaceuticals | Number of settlements of Abbreviated New Drug Application (ANDA) litigation that involved payments and/or provisions to delay bringing an authorised generic product to market for a defined time period
  • HC-DR-260a.1: Drug Retailers | Percentage of controlled substance prescriptions dispensed for which a prescription drug monitoring program (PDMP) database was queried
  • HC-DY-230a.1: Health Care Delivery | Percentage of patient records that are Electronic Health Records (EHR) that meet "meaningful use" requirements
  • HC-DY-240a.2: Health Care Delivery | Amount of Medicare Disproportionate Share Hospital (DSH) adjustment payments received
  • HC-DY-250a.1: Health Care Delivery | Average Hospital Value-Based Purchasing Total Performance Score and domain score, across all facilities
  • HC-DY-250a.4: Health Care Delivery | Excess readmission ratio per hospital
  • HC-DY-250a.5: Health Care Delivery | Magnitude of readmissions payment adjustment as part of the Hospital Readmissions Reduction Program (HRRP)
  • HC-DY-260a.2: Health Care Delivery | Percentage of controlled substance prescriptions written for which a prescription drug monitoring program (PDMP) database was queried
  • HC-MC-240a.2: Managed Care | Total amount of rebates accrued and paid due to non-compliance with the Patient Protection and Affordable Care Act for Medical Loss Ratio (MLR)
  • HC-MC-260a.2: Managed Care | Total coverage for preventive health services with no cost sharing for the enrollees, total coverage for preventive health services requiring cost-sharing by the enrollee, percentage of enrollees receiving Initial Preventive Physical Examinations (IPEE) or Annual Wellness Visits (AWV)
• From the Infrastructure (IF) sector:
  • IF-EU-240a.2: Electric Utilities & Power Generators | Typical monthly electric bill for residential customers for (1) 500 kWh and (2) 1,000 kWh of electricity delivered per month
  • IF-GU-240a.2: Gas Utilities & Distributors | Typical monthly gas bill for residential customers for (1) 50 MMBtu and (2) 100 MMBtu of gas delivered per year
  • IF-WM-320a.2: Waste Management | Safety Measurement System BASIC percentiles for: (1) Unsafe Driving, (2) Hours-of-Service Compliance, (3) Driver Fitness, (4) Controlled Substances/Alcohol, (5) Vehicle Maintenance, and (6) Hazardous Materials Compliance
  • IF-WU-240a.2: Water Utilities & Services | Typical monthly water bill for residential customers for 10 Ccf of water delivered per month
• From the Services (SV) sector, SV-ED-260a.4: Education | (1) Debt-to-annual earnings rate and (2) debt-to-discretionary income rate
• From the Transportation (TR) sector:
  • TR-AF-540a.4: Air Freight & Logistics | Safety Measurement System BASIC percentiles for: (1) Unsafe Driving, (2) Hours-of-Service Compliance, (3) Driver Fitness, (4) Controlled Substances/Alcohol, (5) Vehicle Maintenance, and (6) Hazardous Materials Compliance
  • TR-RO-540a.2: Road Transportation | Safety Measurement System BASIC percentiles for: (1) Unsafe Driving, (2) Hours-of-Service Compliance, (3) Driver Fitness, (4) Controlled Substances/Alcohol, (5) Vehicle Maintenance, and (6) Hazardous Materials Compliance

Tip: To help prioritize content to review, consider bookmarked disclosures, and create a query to view SASB metrics connected to Program metrics.

Prepare Program metrics

As you determine the impact of these revisions, prepare the metrics in Sustainability Program for the applicable reporting year:

• In Related Explorer content, add any new or updated SASB content a metric aligns with. For content that IFRS deprecated, decide whether to retain its reference on the metric for historical context.

  Tip: If IFRS deprecates a metric's only related content, consider whether to continue its data collection.

• Determine how to adjust data collection based on the new units of measurement; for example:
  • Create spreadsheet formulas or query calculations to convert values collected through a Program to the new units of measurement.
  • Create new metrics to collect values with the new unit of measurement. 
  • Edit a metric's unit of measurement from the Configure metric panel.

    Note: When you edit a metric's unit of measurement, it changes the unit used with all of the metric's values — including those collected for previous reporting years — but does not apply any conversion to those values.