Industry Comparison

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Current language: English (2023)

You are viewing information about the following Industries:

  • Appliance Manufacturing Appliance Manufacturing industry entities design and manufacture household appliances and hand tools. Entities in this industry sell and manufacture products all over the world, primarily selling products to consumers through retailers.
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  • Oil & Gas – Midstream Oil & Gas - Midstream industry entities transport or store natural gas, crude oil and refined petroleum products. Midstream natural gas activities involve gathering, transporting and processing natural gas from the wellhead, such as the removal of impurities, production of natural gas liquids, storage, pipeline transport and shipping, liquefaction, or regasification of liquefied natural gas. Midstream oil activities mainly involve transporting crude oil and refined products using pipeline networks, truck and rail, and marine transport on tankers or barges. Entities that operate storage and distribution terminals, as well as those that manufacture and install storage tanks and pipelines, are also part of this industry.
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Relevant Issues for both Industries (7 of 26)

Why are some issues greyed out? The SASB Standards vary by industry based on the different sustainability-related risks and opportunities within an industry. The issues in grey were not identified during the standard-setting process as the most likely to be useful to investors, so they are not included in the Standard. Over time, as the ISSB continues to receive market feedback, some issues may be added or removed from the Standard. Each company determines which sustainability-related risks and opportunities are relevant to its business. The Standard is designed for the typical company in an industry, but individual companies may choose to report on different sustainability-related risks and opportunities based on their unique business model.

Disclosure Topics

What is the relationship between General Issue Category and Disclosure Topics? The General Issue Category is an industry-agnostic version of the Disclosure Topics that appear in each SASB Standard. Disclosure topics represent the industry-specific impacts of General Issue Categories. The industry-specific Disclosure Topics ensure each SASB Standard is tailored to the industry, while the General Issue Categories enable comparability across industries. For example, Health & Nutrition is a disclosure topic in the Non-Alcoholic Beverages industry, representing an industry-specific measure of the general issue of Customer Welfare. The issue of Customer Welfare, however, manifests as the Counterfeit Drugs disclosure topic in the Biotechnology & Pharmaceuticals industry.
  • Appliance Manufacturing Remove
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    • GHG Emissions The category addresses direct (Scope 1) greenhouse gas (GHG) emissions that a company generates through its operations. This includes GHG emissions from stationary (e.g., factories, power plants) and mobile sources (e.g., trucks, delivery vehicles, planes), whether a result of combustion of fuel or non-combusted direct releases during activities such as natural resource extraction, power generation, land use, or biogenic processes. The category further includes management of regulatory risks, environmental compliance, and reputational risks and opportunities, as they related to direct GHG emissions. The seven GHGs covered under the Kyoto Protocol are included within the category—carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6), and nitrogen trifluoride (NF3).
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    • Air Quality The category addresses management of air quality impacts resulting from stationary (e.g., factories, power plants) and mobile sources (e.g., trucks, delivery vehicles, planes) as well as industrial emissions. Relevant airborne pollutants include, but are not limited to, oxides of nitrogen (NOx), oxides of sulfur (SOx), volatile organic compounds (VOCs), heavy metals, particulate matter, and chlorofluorocarbons. The category does not include GHG emissions, which are addressed in a separate category.
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    • Ecological Impacts The category addresses management of the company’s impacts on ecosystems and biodiversity through activities including, but not limited to, land use for exploration, natural resource extraction, and cultivation, as well as project development, construction, and siting. The impacts include, but are not limited to, biodiversity loss, habitat destruction, and deforestation at all stages – planning, land acquisition, permitting, development, operations, and site remediation. The category does not cover impacts of climate change on ecosystems and biodiversity.
      None
    • Product Quality & Safety The category addresses issues involving unintended characteristics of products sold or services provided that may create health or safety risks to end-users. It addresses a company’s ability to offer manufactured products and/or services that meet customer expectations with respect to their health and safety characteristics. It includes, but is not limited to, issues involving liability, management of recalls and market withdrawals, product testing, and chemicals/content/ingredient management in products.
      • Product Safety Product safety is of utmost importance to appliance and tool manufacturers. When an appliance malfunctions, fires or other resulting hazards may damage property, cause injury or even result in death. The potential for product malfunction and consequences exposes firms to litigation and negative consumer sentiment risks, which can affect brand value, revenue growth or market share. Entities issuing product recalls face upfront costs for logistics and customer reimbursement, reputational risks and lost sales. Failure to report known product safety hazards to relevant authorities can result in civil penalties. Entities that effectively manage quality control and testing can minimise the possibility of a product malfunction or recall, capture additional market share, and limit exposure to regulatory and litigation risks.
    • Product Design & Lifecycle Management The category addresses incorporation of environmental, social, and governance (ESG) considerations in characteristics of products and services provided or sold by the company. It includes, but is not limited to, managing the lifecycle impacts of products and services, such as those related to packaging, distribution, use-phase resource intensity, and other environmental and social externalities that may occur during their use-phase or at the end of life. The category captures a company’s ability to address customer and societal demand for more sustainable products and services as well as to meet evolving environmental and social regulation. It does not address direct environmental or social impacts of the company’s operations nor does it address health and safety risks to consumers from product use, which are covered in other categories.
      • Product Lifecycle Environmental Impacts Entities in the Appliance Manufacturing industry seek to differentiate their products from those of competitors. One important differentiating factor is the lifecycle environmental impact of products and an entity’s ability to design products with the entire lifecycle in mind, from creation and use to disposal. This includes appliance energy and water efficiency, which account for a significant proportion of a home’s energy and water use, as well as designing for and facilitating safe end-of-life disposal and recycling. Entities designing and manufacturing products to decrease lifecycle environmental impacts are more likely to increase market share owing to a lower cost of ownership, and they may better manage increased regulation related to issues such as extended producer responsibility.
    • Competitive Behaviour The category covers social issues associated with existence of monopolies, which may include, but are not limited to, excessive prices, poor quality of service, and inefficiencies. It addresses a company’s management of legal and social expectation around monopolistic and anti-competitive practices, including issues related to bargaining power, collusion, price fixing or manipulation, and protection of patents and intellectual property (IP).
      None
    • Critical Incident Risk Management The category addresses the company’s use of management systems and scenario planning to identify, understand, and prevent or minimize the occurrence of low-probability, high-impact accidents and emergencies with significant potential environmental and social externalities. It relates to the culture of safety at a company, its relevant safety management systems and technological controls, the potential human, environmental, and social implications of such events occurring, and the long-term effects to an organization, its workers, and society should these events occur.
      None
  • Oil & Gas – Midstream Remove
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    • GHG Emissions The category addresses direct (Scope 1) greenhouse gas (GHG) emissions that a company generates through its operations. This includes GHG emissions from stationary (e.g., factories, power plants) and mobile sources (e.g., trucks, delivery vehicles, planes), whether a result of combustion of fuel or non-combusted direct releases during activities such as natural resource extraction, power generation, land use, or biogenic processes. The category further includes management of regulatory risks, environmental compliance, and reputational risks and opportunities, as they related to direct GHG emissions. The seven GHGs covered under the Kyoto Protocol are included within the category—carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6), and nitrogen trifluoride (NF3).
      • Greenhouse Gas Emissions The Midstream industry generates significant greenhouse gases and other air emissions from compressor engine exhausts, oil and condensate tank vents, natural gas processing, and fugitive emissions, in addition to emissions from mobile sources. GHG emissions contribute to climate change and create incremental regulatory compliance costs and risks for Midstream entities. At the same time, the management of methane fugitive emissions has emerged as a significant operational, reputational and regulatory risk. Financial effects on entities will vary depending on the specific location of operations and prevailing emissions regulations, and they include increased operating or capital expenditures and regulatory or legal penalties. Entities that capture and monetise emissions, or cost-effectively reduce emissions by implementing innovative monitoring and mitigation efforts and fuel efficiency measures, may enjoy substantial financial benefits. Entities can reduce regulatory risks and realise operational efficiencies as regulatory and public concerns about air quality and climate change increase.
    • Air Quality The category addresses management of air quality impacts resulting from stationary (e.g., factories, power plants) and mobile sources (e.g., trucks, delivery vehicles, planes) as well as industrial emissions. Relevant airborne pollutants include, but are not limited to, oxides of nitrogen (NOx), oxides of sulfur (SOx), volatile organic compounds (VOCs), heavy metals, particulate matter, and chlorofluorocarbons. The category does not include GHG emissions, which are addressed in a separate category.
      • Air Quality Air emissions from Oil & Gas – Midstream entities include air pollutants, which can create significant and localised environmental or health risks. Of particular concern are sulphur dioxide, nitrogen dioxide and volatile organic compound (VOC) emissions. The financial consequences entities face from air emissions vary depending on the specific locations of operations and the prevailing air emissions regulations. Amid increasing regulatory and public concerns about air quality, active air quality management through technological and process improvements could allow entities to mitigate the adverse financial effects of regulations. Entities could benefit from operational efficiencies that may result in a lower cost structure over time.
    • Ecological Impacts The category addresses management of the company’s impacts on ecosystems and biodiversity through activities including, but not limited to, land use for exploration, natural resource extraction, and cultivation, as well as project development, construction, and siting. The impacts include, but are not limited to, biodiversity loss, habitat destruction, and deforestation at all stages – planning, land acquisition, permitting, development, operations, and site remediation. The category does not cover impacts of climate change on ecosystems and biodiversity.
      • Ecological Impacts The storage and transport of crude oil, natural gas and related products through a vast system of maritime transportation vehicles, pipelines, trains and trucks presents considerable risks to the environment and local communities. Leaks, accidental discharges, pipeline rights-of-way and open easements over ecologically sensitive land could negatively impact ecosystems in several ways, including natural habitat loss and changes in species movement. To protect endangered species and ecologically sensitive areas, jurisdictional legal and regulatory authorities may require development and decommissioning plans that mitigate or remediate potential ecological impacts prior to project approval. Together with regulatory compliance costs, these plans may require significant capital and operational expenditures. As concerns over ecological impacts increase, greenfield and existing developed sites may be designated as protected areas under new laws or the enforcement of existing laws. Entities that effectively manage ecological impacts may avoid project delays, remediation and litigation liabilities, and could gain easier access to new projects and sources of revenue.
    • Product Quality & Safety The category addresses issues involving unintended characteristics of products sold or services provided that may create health or safety risks to end-users. It addresses a company’s ability to offer manufactured products and/or services that meet customer expectations with respect to their health and safety characteristics. It includes, but is not limited to, issues involving liability, management of recalls and market withdrawals, product testing, and chemicals/content/ingredient management in products.
      None
    • Product Design & Lifecycle Management The category addresses incorporation of environmental, social, and governance (ESG) considerations in characteristics of products and services provided or sold by the company. It includes, but is not limited to, managing the lifecycle impacts of products and services, such as those related to packaging, distribution, use-phase resource intensity, and other environmental and social externalities that may occur during their use-phase or at the end of life. The category captures a company’s ability to address customer and societal demand for more sustainable products and services as well as to meet evolving environmental and social regulation. It does not address direct environmental or social impacts of the company’s operations nor does it address health and safety risks to consumers from product use, which are covered in other categories.
      None
    • Competitive Behaviour The category covers social issues associated with existence of monopolies, which may include, but are not limited to, excessive prices, poor quality of service, and inefficiencies. It addresses a company’s management of legal and social expectation around monopolistic and anti-competitive practices, including issues related to bargaining power, collusion, price fixing or manipulation, and protection of patents and intellectual property (IP).
      • Competitive Behaviour Entities that own natural gas pipelines and storage facilities face numerous and constantly changing regulations in all aspects of their operations, including the rates charged, common carrier access and new facility siting and construction. Many pipelines and terminals enjoy natural monopolies, and regulations ensure that entities do not abuse this position through unfair pricing, discriminatory service or by other means. Because of concerns about the effects of oil and gas market distortions on consumers and businesses, market manipulation regulations could also affect entities in the Midstream industry. Prospective rate changes, compensation payments or regulatory penalties for violating regulations governing competitive behaviour may adversely affect entities. Midstream entities face uncertainty regarding their ability to change the rates charged, which could affect their ability to recover higher costs.
    • Critical Incident Risk Management The category addresses the company’s use of management systems and scenario planning to identify, understand, and prevent or minimize the occurrence of low-probability, high-impact accidents and emergencies with significant potential environmental and social externalities. It relates to the culture of safety at a company, its relevant safety management systems and technological controls, the potential human, environmental, and social implications of such events occurring, and the long-term effects to an organization, its workers, and society should these events occur.
      • Operational Safety, Emergency Preparedness & Response Entities in the Oil & Gas – Midstream industry operate a vast network of assets at risk of spills and accidents. Any incident that results in unintended hydrocarbon releases could have severe impacts on the environment, employees and local communities. Because of these concerns, applicable jurisdictional legal and regulatory authorities may implement new safety regulations related to pipeline and rail operations. Significant events may result in large one-time costs from fines and corrective actions, and contingent liabilities for remediation or legal damages. These factors also could impair an entity’s social licence to operate. As demonstrated by investigations of past incidents, an entity that develops a strong safety culture and establishes a thorough and systematic approach to safety and risk management may minimise such risks. This includes emergency preparedness and response and operational integrity within the entity and in its external relationships with contractors.

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Appliance Manufacturing
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Oil & Gas – Midstream
Consumer Goods
Extractives & Minerals Processing
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