Integratedreporting.org Content
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Bespoke
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Links on right hand column
Rotating quotes (editable by IIRC team in accordance with guidelines provided by Digit
and reviewed by CM-R)
A message from HRH The Prince of Wales
- addressing the World Congress of Accountants 2010
12 individuals pictures and quotes provided in separate document ‘IIRC quotes and
pictures’.
http://www.youtube.com/user/ThePrincesA4S?feature
=mhum#p/a/u/1/sy7cTBFpJTw
What is Integrated Reporting <IR>? (link to ‘About <IR>’)
Picture on page.
Integrated Reporting is a holistic approach that enables investors and other stakeholders
to understand how an organization is really performing. Integrated Reporting
demonstrates the linkages between an organization’s strategy, governance and financial
performance and the social, environmental and economic context within which it
operates. By reinforcing these connections, Integrated Reporting can help business to
take more sustainable decisions.
In long-run to set up IR Youtube page and create video
message specifically for audience on IR and Committee
The Power to Influence (link to ‘The IIRC?’)
The International Integrated Reporting Committee is a powerful, international cross
section of leaders from the corporate, investment, accounting, securities, regulatory, and
standard-setting sectors as well as civil society. The IIRC is chaired by Sir Michael Peat,
Principal Private Secretary to TRH The Prince of Wales and The Duchess of Cornwall.
Professor Mervyn King, Chairman of the Global Reporting Initiative is Deputy Chair.
News and Events (link to News and Events)
IIRC meeting held in China – 17th January (link to subevent page within Events)
The second meeting of the IIRC was held in Beijing,
China on 17th January 2011. Sir Michael Peat chaired
the meeting which was hosted by The Chinese Institute
of Certified Public Accountants (CICPA).
IIRC Round Table in India – 19th January (link to subevent page within Events)
The first of a series of round table events was held on
19th January 2011 at the Hotel Taj President in Mumbai.
The IIRC Round Table was part of the “Responsible
Investment: Mainstreaming of Environmental, Social,
Governance Factors” event hosted by German
Development Corporation GTZ and the Global Reporting
Initiative focal point in India.
[Twitter – when it is ready]
HOW CAN YOU PARTICIPATE {link to How can you
participate page)
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2. About
<IR>
2.1
About
<IR>
Diagram
and text
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below
text)
What is <IR>?
Integrated Reporting is a holistic approach that enables investors and other stakeholders
to understand how an organization is really performing. Integrated Reporting
demonstrates the linkages between an organization’s strategy, governance and financial
performance and the social, environmental and economic context within which it
operates. By reinforcing these connections, Integrated Reporting can help business to
take more sustainable decisions.
Defining IR is a process and is constantly being enhanced with input from various
stakeholders around the globe. The IIRC is creating a Discussion Paper on Integrated
Reporting for public consultation. More [link to 2011 workplan page]
Objectives of <IR> - diagram
2.2 Why
do we
need
<IR>?
Picture of trading floor during crisis., indicating chaos but with no link to one specifically
or alternative positive economic / business picture as identified by Digit
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and text
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The last few years has seen the worst financial crisis since the 1930s - a crisis that was in
part driven by individuals and organisations focussing on short-term profits and rewards
irrespective of their long-term sustainability.
Why do we need <IR>?
Why do we need <IR>? (link to ‘Why do we need <IR>
page)
The financial crisis has highlighted the need for more
comprehensive information in corporate reporting, so
that investors and other stakeholders can have a clear
sense of the risks and opportunities that a company
faces. More
“Financial information is not sufficient. We have to
provide information on sustainability, on social issues
and environment, and it has to be done in an integrated
way with a financial report.”
Goran Tidstrom, President of the International
Federation of Accountants and member of the IIRC [Link
to The IIRC page]
“Leaders in the implementation of Integrated Reporting
will demonstrate to investors and other stake-holders
that business interests are not damaged, but rather
enhanced, by embracing a sustainable future.”
David Nussbaum, Chief Executive, World Wildlife Fund UK and member of the IIRC [Link to IIRC page]
It has demonstrated the need for capital market decision-making to reflect long-term
considerations and has called into question the extent to which corporate reporting
disclosures, as they exist today, highlight systematic risks to business sufficiently.
Current reporting
Companies are currently required to produce a fair and reasonable account of their
business in audited financial reports. Often, these reports do not fully consider the social,
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environmental and long-term economic context within which the business operates.
Some companies produce ‘Sustainability’ or ‘Environmental, Social and Governance’
(ESG) reports which consider these factors. However, these reports do not necessarily
connect the risks and opportunities with the business strategy and model.
Integrated reporting will help to bring together data that are relevant to the
performance and impact of a company in a way that will create a more profound and
comprehensive picture of the risks and opportunities a company faces, specifically in the
context of the drive towards a more sustainable global economy.
2.3
Making
<IR>
happen
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Picture of IIRC taking from Beijing event
Key milestones for 2011 [link to IR 2011 workplan]
The path to <IR>
1. The release of an Integrated Reporting
During 2009 a number of initiatives, organizations and individuals began to converge in
response to the need for a consistent, collaborative and internationally accepted
approach to Integrated Reporting.
In order to establish and agree a clear path towards Integrated Reporting, The Prince of
Wales convened a high level meeting of investors, standard setters, companies,
accounting bodies and UN representatives. At the meeting it was agreed that The
Prince’s Accounting for Sustainability Project and the Global Reporting Initiative should
work together with other organizations to establish an international body to oversee the
creation of a generally accepted Integrated Reporting framework. The formation of the
International Integrated Reporting Committee (“IIRC”) was formally announced in August
2010. [Link to Press release]
Discussion Paper for initial company testing and
public consultation – June 2011
2. Proposals for Integrated Reporting to be put
forward at the G20 meeting in Cannes –
October/November 2011
Why do we need the IIRC?
The key objective of Integrated Reporting is to demonstrate the linkages between an
organization’s strategy, governance and financial performance and the social,
environmental and economic context within which it operates.
There are several standard-setting and regulatory bodies responsible for creating
standards for financial reporting, as well as frameworks and guidelines for ESG reporting.
However, there is no single body with the authority, legitimacy or expertise to bring
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together the different elements required for Integrated Reporting.
The IIRC brings together a powerful, international cross section of leaders from the
corporate, investment, accounting, securities, regulatory, and standard-setting sectors as
well as civil society.
The role of the IIRC is not to increase the reporting burden on organizations, rather to
create an Integrated Reporting framework which will enable companies to bring more
coherence and focus into corporate reporting to and dialogue with its stakeholders.
2.4 The IR
2011
workplan
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The 2011 workplan - diagram
Workplan resources [link to resources]
Two key milestones for Integrated Reporting in 2011
All documents related to this workplan can be found in
the resources section.
1. The release of an Integrated Reporting Discussion Paper for initial company
testing and public consultation – June 2011
2. Proposals for Integrated Reporting to be put forward at the G20 meeting in
Cannes – October/November 2011
2.4.1
The Integrated Reporting Discussion Paper
The
Integrate
d
Reporting
discussion
Paper
The Integrated Reporting Discussion Paper will be a high-level document, focussing on
principles for Integrated Reporting. It will comprise the following elements:
-
An overarching definition of Integrated Reporting and related concepts.
-
An outline of intended users of Integrated Reporting.
Text
template
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An outline of the principles for preparation and presentation of Integrated
Reporting and principles to determine the scope and content of Integrated
Reporting.
2.4.2 Pilot
Pilot Programme
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program
me
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The objective of the Pilot Programme is to give companies the opportunity to test and
provide feedback on the development of the Integrated Reporting framework.
The pilot programme will comprise of two phases:
1. Initial company testing of the Integrated Reporting Discussion Paper in June to
July 2011
2. The first full pilot programme which will commence in September 2011 for a two
year reporting cycle
Companies participating in the pilot programme will prepare actual Integrated Reports
based on the Integrated Reporting frameworks under development by the IIRC. The
programme encourages companies from a variety of sectors and regions to participate.
2.5
Testimoni
als
Template
tbc
For further information, please contact Joris Wiemer, wiemer@globalreporting.org .
(TBC)
Testimonials
Organisations are increasingly being called upon to embed sustainability into everything
they do. The logical extension of this is that they should be linking what they do in
sustainability to how they perform when communicating with stakeholders, thereby
providing them with better decision-making information. How this is achieved is an
enormous challenge and the IIRC offers us a real opportunity for success in meeting it,
and it is therefore something we fully support.
Michael Izza, ICAEW Chief Executive, Global Accounting Alliance
The formation of the IIRC must be applauded. Its work to develop a discussion paper on
integrated reporting and its plans to engage the G20 on an agenda for change will be
critical in shaping the future of reporting and the audit profession.
Now appears to be a time for change, as the regulatory systems is reformed and the
future challenges of climate change, population growth and resource usage are better
understood.
Dennis Nally, Chairman, PricewaterhouseCoopers International Limited
The inevitable outcome of the failure to integrate sustainability as a strategic business
issue in financial reporting is that businesses and investors continue to make investments
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that are bad for the environment, society and ultimately their own bottom line. A
migration of sustainability from the periphery to the mainstream is an essential next step
in driving corporate development paths in ways that sustain the earth’s environment and
its capacity to support humanity.
Janet Ranganathan, Vice President for Science and Research, WRI
The IIRC serves an essential role in convening key stakeholders to work towards building
a framework that merges corporate financial and sustainability reporting. With global
trends such as climate change, scarcity of materials and energy security, sustainability
reporting has become an integral part of many companies’ business and performance.
The time is right for an agreed framework that will help drive consistency and
comparability in sustainability reporting and provide an internationally accepted basis for
reporting of non-financial and financial information.
Tim Flynn, Chairman, KPMG International
The WikiLeaks controversy has underscored the disorienting rip-currents created by the
emerging Transparent Economy, the focus of a recent GRI/Volans report. The growing
demand for properly integrated reporting - across companies, supply chains and
economies - will require a great deal of work by the IIRC, GRI and other actors, but it also
offers business the opportunity to get ahead of the agenda, rather than being buffeted
and knocked off course by unforeseen squalls and storms.
John Elkington, Founding Partner & Executive Chairman, Volans
We began our journey towards integrated reporting seven years ago because we wanted
to provide readers with a more comprehensive, 360 degree perspective on our business
performance and to enable shareholders to better valuate the company’s ability to
generate future growth. We build our business on the principle of the Triple Bottom Line
and wanted our reporting to reflect our financial, environmental and social performance
and how these dimensions interact to generate added value for the long term.
Susanne Stormer, Vice President, Global Triple Bottom Line Management, Novo Nordisk
Business must realise that acting in a sustainable manner makes good business sense as
this usually results in more successful operations generating reliable cash flows. Society
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also needs responsible commercial organisations to generate the tax revenue needed to
run public bodies, provide employment and to produce the outputs needed to fuel the
economy. It is essential that the corporate reporting system actively promotes this new
corporate philosophy and the Integrated Reporting initiative represents our best chance
of making this happen.
Charles Tilley, Chief Executive, CIMA
3. The
IIRC
The IIRC?
Diagram
and text
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How we work? - diagram
The IIRC
See separate document for summary of pictures and bios – for picture and roll-over
function.
Terms of reference for the IIRC [link to ToR in
resources]
List of IIRC members [Link to page per current website
http://www.integratedreporting.org/node/7 ]
The role of the IIRC
The Role of the IIRC is to:
 reach a consensus among governments, listing authorities, business, investors,
accounting bodies and standard setters for the best way to tackle the challenges
of integrated reporting
 identify priority areas where additional work is needed and provide a plan for
development
 develop an overarching integrated reporting framework, which sets out the
scope and key components of integrated reporting
 consider whether standards in this area should be voluntary or mandatory
 promote the adoption of integrated reporting by relevant regulators and report
preparer
3.2 IIRC
working
group
Diagram
The IIRC Working Group
See separate document for summary of pictures and bios – for picture and roll-over
function.
For full terms of reference for the IIRC working group
[link to ToR in resources]
List of IIRC working Group members [Link to page per
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The IIRC working group
current website
http://www.integratedreporting.org/node/8 ]
The principal role of the IIRC Working Group is to:
 draw up proposals for the governance arrangements including nomination process,
relationship with existing organisations, remit, role and responsibilities and funding
of the “International Integrated Reporting Committee” or its eventual successor;
 develop proposals relating to the scope and content of integrated reporting,
including an outline work plan covering areas that need to be addressed by the IIRC
prioritising those aspects that require most urgent attention;
 commission additional research, as needed, to support recommendations made;
 develop and execute engagement and communication plans to gain support from
key stakeholder groups, including governments, regulators, companies and investors;
and
 leverage working group member networks to achieve the outcomes set out above.
3.3 Task
forces
Digit to
determin
e
template
s
(And
3.3.1,
3.3.2 and
3.3.3)
The Integrated Reporting taskforces
Taskforces focus on developing specific areas of Integrated Reporting. The Working
Group reviews the work of taskforces and points for decision are submitted to the IIRC.
For full terms of reference for the Integrated Reporting
taskforces [link to ToR in resources]
For each taskforce page….
Currently there are three taskforces:
- Content Development – focussing on the development of the integrated
reporting framework and other elements of the discussion paper
- Communications and Engagement – focussing on developing the outreach and
consultation activities around the IIRC’s work
- Governance – exploring the options for governance arrangements appropriate to
the IIRC
List of IIRC taskforce members [Link to page per current
website:
http://www.integratedreporting.org/node/22
http://www.integratedreporting.org/node/23
http://www.integratedreporting.org/node/24 ]
Three sub pages (3.3.1, 3.3.2, 3.3.3) for each taskforce with a list of members
The Integrated Reporting Content taskforce
See separate document for summary of pictures and bios – for picture and roll-over
function.
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The Integrated Reporting Engagement & Communications taskforce
See separate document for summary of pictures and bios – for picture and roll-over
function.
The Integrated Reporting Governance taskforce
See separate document for summary of pictures and bios – for picture and roll-over
function.
3.4 How
can you
participat
e?
Sign up
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How can you participate? –Please note the sections in bold.
Find out more
Thank you for your interest in Integrated Reporting. Listed below are some of the ways
to find out more about Integrated Reporting and the IIRC and how to get involved with
our work.
Name:
Job title:
Organisation:
Country: [drop down UN countries – selects country by typing letters]
Email:
Confirm email:
To find out about latest reports, news and events
please visit our resources and press pages.
To find out more and enquire about the pilot
programme, please visit our pilot programme page.
Tick boxes
 Sign up to our newsletter to read the latest updates on Integrated Reporting,
the company piloting programme, regional roundtables and the public
consultation process.
 Feature Integrated Reporting at your seminar or event. We would be interested
to hear details of events covering Integrated Reporting.
 Provide testimonials and share evidence for Integrated Reporting to be used for
Integrated Reporting research and communications.
 Journalists and other media representatives wishing to speak to the IIRC team.
 Provide support to the development of Integrated Reporting through funding,
secondments or in kind.
Please provide any additional comments or other enquiries here
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[Box]
Please note that, due to the volume of messages received by e-mail, it is not always
possible to provide individual replies particularly with regards to requests for
membership to the IIRC and its committees or employment opportunities.
Follow us!
- The Integrated Reporting Twitter page
- The Integrated Reporting You Tube page
- Sign up for RSS feeds
(Database and newsweaver technical details as discussed and agreed with CM-R)
4.
Resource
s
(Database and news and resource content management system to be prepared as
discussed and agreed with CM-R.
-
Once the template has been confirmed VL will prepare excel with all documents to be
included and details accordingly as agreed with OF)
IIRC reports, documents and publications
IIRC key press releases
IIRC multimedia
Other resources
5. Press
5.1 IIRC
News
(Database and news and resource content management system to be prepared as
discussed and agreed with CM-R.
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Once the template has been confirmed VL will prepare excel with all documents to be
included and details accordingly as agreed with OF)
IIRC news
IR in the news
Upcoming meetings and events
Multimedia – featured video
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