IIRC launches global call for feedback on business implementation of Integrated Reporting
Three years after publication of the International Integrated Reporting Framework for companies to adopt a forward-looking, broader approach to their corporate reporting aligned to long-term value creation, the global coalition supporting the transition is launching a worldwide call for feedback on its implementation, today Wednesday 1 March 2017.
The International Integrated Reporting Council (IIRC) is announcing a two-month comment period aimed at businesses, investors, regulators, policy makers and other key stakeholders. Focus groups will be held in over ten countries around the world and public feedback is invited via a dedicated webpage.
Commenting on the launch of this comment period, Richard Howitt, CEO, IIRC said:
“Integrated Reporting has caught the imagination of business leaders globally – it has prompted them to change their approach not only to reporting, but also to thinking and planning for the future of their business.
“We have seen 1,500 global companies adopt Integrated Reporting around the world, with its implementation already becoming mainstream in countries such as Japan and South Africa. This rapid adoption demonstrates the market view of the International <IR> Framework as a ground-breaking and beneficial tool. It’s now time for us to further assess how this tool is being used to assist the quality of the reporting, reinforce its relevance to new challenges and ensure it remains fully in tune with market needs.
“Few could have anticipated that within three years, so many business leaders would turn to Integrated Reporting to manage issues such as short-termism, climate risk and loss of trust in business. We are in constant touch with practice through the globally active Integrated Reporting Business Network, technical advice to business – which we provide throughout the year – and through regular surveys and analysis of integrated reports.
“This new exercise is not intended to be a review of the Framework but a specific exercise in seeking feedback – from those who prepare the reports and those who do not yet do so – so that we can all learn from experience.”
Christian Thimann, Group Head of Strategy, Sustainability and Public Affairs, at the major international insurance company AXA Group said:
“This year we have released AXA’s first integrated report, tying in with the launch of the Group’s 2020 strategic plan. We are delighted, as this is the natural outcome of several years of integrated thinking within the company. Over the years we have been working increasingly closely with stakeholders to talk about value creation, as well as engaging in a global discussion about long termism. Our work with the IIRC has enabled us to translate this focus within the company into our external reporting in a concrete way. We are delighted to have the opportunity to share our perspectives on this work – and how we’ve used the International <IR> Framework – with the IIRC, with the aim of encouraging further support and guidance.”
Focus groups are planned for Australia, India, Italy, Japan, the Netherlands, Malaysia, Singapore, Spain, the UK and the United States with other locations to be announced in due course. Feedback can also be submitted online via the IIRC’s website at: www.integratedreporting.