Henning Dräger
IIRC Relationships Director for Russia
Expert RA Conference
Moscow
14 November 2013
Agenda.
Integrated Reporting <IR>
≠
GRI
IFRS
UN Global Compact
SASB
OECD Guidelines for Multinational Enterprises
Reporting hybrids
Custom made solutions
Financial Regulators,
Reporting Standard Setters
• IASB
• FASB
• IFAC
• World Bank
• IMF
• GRI
• ISO
• European Commission
• SASB
Academia, Prof. bodies, NGOs
• Corporate Governance
Association of Turkey
• Harvard University
• WWF
115 Business Network participants
• Rosatom
• Uralsib
• NIAER
• Rosneft
• Unilever
• SAP
• HSBC
• Coca Cola
Accounting Profession
• ACCA
• ICAEW
• BDO, KPMG, EY ,Deloitte, PWC, GT
Investor Network
• JP Morgan
• Aviva Investors
• Goldman Sachs
• Deutsche Bank
• Norway Sovereign Wealth
Fund
• SEB
Stock Exchanges
• NYSE
• LSE
• Tokyo Stock Exchange
• Micex
Rating agencies
• IOSCO
• S&P
• Moody's
• Bloomberg
Our objective.
Financial
reporting
strategy, governance,
performance,
future prospects
concise communication of corporate
value creation and mitigation of
negative impacts
NonFinancial
reporting
The future of corporate disclosure.
The <IR> Format – one or multiple?
How is <IR> different from other reporting frameworks
e.g. IFRS, GRI and Natural Step?
Thinking:
Disconnected
Integrated
Stewardship:
Financial capital
All forms of capital
Focus:
Past, financial
Past and future, connected,
strategic
Timeframe:
Short term
Short, medium and long term
Trust:
Narrow disclosures
Adaptive:
Rule bound
Concise:
Long and complex
Technology enabled: Paper based
Greater transparency
Responsive to individual
circumstances
Concise and material
Technology enabled
<IR> v GRI G4.
<IR> Stakeholders
• Investors
• Regulators
• Shareholders
• Board/Management
<IR> Organisational Focus
• More strategic
• Business Model – inputs/outputs
• Multiple capitals
• Corporate Governance structure
• Risk Management
• <IR> metrics
<IR> “story”
• Value creation/destruction over time
GRI Stakeholders
• Broader external group
• Report preparers
GRI Organisational Focus
• More operational
• Stakeholder engagement
• Value chain
GRI “story”
• Explain process of identifying material
issues/stakeholders
Shared concepts
• Materiality
• Transparency
• Governance
The IIRC timeline.
Discussion
Paper
Summary of
comments
Background
Papers
Pilot Programme
Yearbook
2014
Work Plan
Prototype
Framework
G-20
2014/15
Behaviour
Change
Emerging <IR>
Database
Framework
(2013)
December 2013
The Framework
Russian stakeholders we need you!
 Business Network participants
 Investor Network participants
 Legislator input
 Industry input across key sectors
 Experts for creating <IR> “language and metrics”
 Marketing and Communication input
 Academic partners for research, papers, conferences
спасибо.
INTERNATIONAL INTEGRATED REPORTING COUNCIL
Henning.drager@theiirc.org
www.theiirc.org
+380 50 452 20 37