ASTM E3377-24

Standard Guide for Environmental, Social, and Governance (ESG) Disclosure Related to Climate and Community

SIGNIFICANCE AND USE
4.1 Purpose—This guide provides an overview of frameworks used for environmental, social, and governance (ESG) disclosures applicable to a variety of organizations. This guide provides users with information on the history of ESG disclosure frameworks, the components that comprise ESG disclosures, the target audience of these disclosures, and the challenges associated with this topic.  
4.2 How to Use Information—This guide is intended to provide a brief overview of ESG disclosure frameworks and considerations. The users of this guide are encouraged to review the sections of this guide and the supplemental information provided in the Appendices to this guide which include example templates and further discussion on key topics relevant to ESG disclosures.  
4.3 Who Should Use Information—The intended users of this guide may include a diverse range of stakeholders such as industries and companies that use, make, or sell products; regulators at federal, state and local levels; consultants and vendors; consumers; investors; academic researchers and students; non-governmental organizations (NGOs); and community constituents. Over the past 35 years, this topic has been the subject of increasing corporate, regulatory, consumer, ratings agencies, and stakeholder interest.  
4.4 Regulatory Context—This guide reviews regulatory developments regarding ESG disclosures in the U.S. and internationally. This guide provides a brief overview of regulatory developments and trends regarding ESG disclosures. Users of this guide should stay current on the regulatory requirements applicable to their operations, products, services, and supply and value chains.  
4.5 Frameworks—This guide provides an overview of ESG disclosure frameworks in the U.S. and internationally. There are several voluntary frameworks that provide guidance for ESG disclosures, such as GRI, TCFD, the Value Reporting Foundation, and the Stakeholder Capital Metrics framework (developed by the World Economic Forum a...
SCOPE
1.1 This guide provides an overview of frameworks used for environmental, social, and governance (ESG) disclosures applicable to a variety of organizations.  
1.2 This guide discusses the history and purpose of ESG disclosure frameworks, as well as the challenges associated with the greater interest in and broader requirements for transparency and accountability in the information used in disclosures.  
1.3 The focus of this guide is the array of ESG disclosure frameworks and the regulatory context for organizations making ESG disclosures including climate and community concerns.  
1.4 The goal of this guide is to improve the users’ understanding of ESG disclosure frameworks and to outline but not to supersede federal, state, tribal, and local regulatory requirements, and guidelines for disclosures. This guide can be used in situations where there may not be a regulatory requirement or framework for disclosure, or where the user wishes to conduct voluntary disclosure initiatives. In addition, it can also be used to standardize efforts when several different disclosure requirements apply to an organization.  
1.5 This guide is organized as follows:    
Section 1  
Scope  
Section 2  
Referenced Documents  
Section 3  
Terminology  
Section 4  
Significance and Use  
Section 5  
Overview of ESG Disclosure Requirements and Guidelines  
Section 6  
Overview of ESG Disclosure Frameworks  
Section 7  
Common Elements of ESG Disclosures  
Section 8  
Data Sources and Metrics  
Section 9  
Materiality Determinations  
Section 10  
Communications Methods and Best Practices  
Section 11  
Keywords  
Appendix X1  
Resources for this Guide: Weblinks  
Appendix X2  
Example State and Municipal Disclosure Requirements  
Appendix X3  
Example Industry-Specific Disclosure Templates  
Appendix X4  
Databases for Federal Environmental Criteria  
Appendix X5  
Resources for Social and Gove...

General Information

• Status: Published
• Publication Date: 14-Mar-2024
• Technical Committee: E50 - Environmental Assessment, Risk Management and Corrective Action
• Drafting Committee: E50.07 - Climate and Community

Relations

• Refers: ASTM E2348-24 - Standard Guide for Framework for a Consensus-based Environmental Decision-making Process
• Effective Date: 01-Feb-2024
• Refers: ASTM E2348-17 - Standard Guide for Framework for a Consensus-based Environmental Decision-making Process
• Effective Date: 01-Jan-2017

Standards Content (Sample)

This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the
Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
Designation: E3377 − 24
Standard Guide for
Environmental, Social, and Governance (ESG) Disclosure
1
Related to Climate and Community
This standard is issued under the fixed designation E3377; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope
Appendix X6 Resources for Consumer Focused ESG Disclosures
Appendix X7 Resources for ESG Disclosures: Enterprise Software
1.1 This guide provides an overview of frameworks used for
Platforms
environmental, social, and governance (ESG) disclosures ap- Appendix X8 Overview of ESG Ratings
plicable to a variety of organizations.
1.6 Before beginning the ESG disclosures process, organi-
zations should document the information and data identified
1.2 This guide discusses the history and purpose of ESG
disclosure frameworks, as well as the challenges associated and evaluated, clarify the professional judgement factors con-
sidered during decision making and state how those factors
with the greater interest in and broader requirements for
transparency and accountability in the information used in influenced decisions or actions, and document the relevant
technical policy decisions. The organization should verify that
disclosures.
the data and information which are to be used in the ESG
1.3 The focus of this guide is the array of ESG disclosure
disclosures process, including historical data and current data,
frameworks and the regulatory context for organizations mak-
will be relevant to and of sufficient quantity and quality to
ing ESG disclosures including climate and community con-
answer the questions posed and the decisions made in the ESG
cerns.
disclosures process.
1.4 The goal of this guide is to improve the users’ under-
1.7 The ESG disclosures should be appropriate, relevant,
standing of ESG disclosure frameworks and to outline but not
and decision-useful disclosures suited to a particular request,
to supersede federal, state, tribal, and local regulatory
purpose, or target audience.
requirements, and guidelines for disclosures. This guide can be
used in situations where there may not be a regulatory
1.8 The ESG disclosure frameworks discussed in this guide
requirement or framework for disclosure, or where the user
vary widely in ESG elements. For example, some ESG
wishes to conduct voluntary disclosure initiatives. In addition,
frameworks focus only on disclosure of a select set of
it can also be used to standardize efforts when several different
environmental factors such as regulated emissions. The wider
disclosure requirements apply to an organization.
range of ESG elements that may be disclosed are summarized
below.
1.5 This guide is organized as follows:
1.8.1 The environmental component of the disclosures
Section 1 Scope
Section 2 Referenced Documents
might focus on an organization’s impact on the environment—
Section 3 Terminology
for example, its energy and water inputs and pollution outputs.
Section 4 Significance and Use
It also might focus on the risks and opportunities associated
Section 5 Overview of ESG Disclosure Requirements and Guidelines
Section 6 Overview of ESG Disclosure Frameworks
with the impacts of climate change on or by the company, its
Section 7 Common Elements of ESG Disclosures
supply chains and value chains, its industry, and the commu-
Section 8 Data Sources and Metrics
nities in which its facilities and operations reside. Key ele-
Section 9 Materiality Determinations
Section 10 Communications Methods and Best Practices
ments of the environmental component may include carbon
Section 11 Keywords
footprint; resource consumption; resource depletion; energy
Appendix X1 Resources for this Guide: Weblinks
efficiency; renewable energy; greenhouse gas emissions; waste
Appendix X2 Example State and Municipal Disclosure Requirements
Appendix X3 Example Industry-Specific Disclosure Templates
reduction, recycle, reuse, and waste management; pollution
Appendix X4 Databases for Federal Environmental Criteria
prevention; and issues related to environmental justice.
Appendix X5 Resources for Social and Governance Criteria
1.8.2 The social component of the disclosures might focus
on the organization’s relationship with people and society—for
1
This guide is under the jurisdiction of ASTM Committee E50 on Environmental
example, opportunities and risks for diversity and inclusion;
Assessment, Risk Management and Corrective Action and is the direct responsibil-
human rights; the rights of In
...