Passion. Intellect. Experience.

Australia is an exciting place to be: their economy, buoyed by a boom in the energy and natural resources sector, has not witnessed the same economic crisis and recession that most western economies have suffered in recent years. And, in 2014, Australia takes over from Russia as President of the G20. So there is a degree of confidence and energy that is palpable.

In November I spent some time in Australia meeting with many of the innovative leaders that are part of the <IR> movement there, as well as a whole series of those starting to comprehend and appreciate. They understand and appreciate the need for change in corporate reporting and agree with the IIRC’s premise that the current reporting landscape is insufficient to meet the needs of an increasingly complex global business environment – nor do so in a sustainable manner.
I was delighted to be greeted by such a high level of interest in <IR> and, as a result, was invited to speak at the Business Advisory Council of the Asia-Pacific Economic Co-operation (APEC), a group of over 60 business leaders from the 21 APEC member economies (called ABAC for short). Through a combination of hard work and commitment, led by John Denton, current co-Chair and one of Australia’s representatives on ABAC’s Finance and Economics Working Group (FEWG), Integrated Reporting was included on the formal agenda. I must also acknowledge Peter Keogh, Secretary of the FEWG, who introduced me to business leaders and made sure the group found time to discuss Integrated Reporting.

I would particularly like to thank Michael Bray, Director of the Energy Policy Institute of Australia, and Chairman of Energy Resources for KPMG in Australia and Asia Pacific, for his passion, intellect and experience. My experience at ABAC was driven by his passion for Integrated Reporting, together with our shared belief that it could be the answer to continuing market inefficiencies and a focus on short-termism which means that investment isn’t flowing to the most productive sectors. Michael identified that, although APEC economies are amongst the most vibrant and dynamic in the world, there is a growing need to attract long term investment in strategically important sectors such as infrastructure and energy. Indeed, he presented a case study on energy financing which drew on integrated reporting principles and resonated with the business leaders present. This link to the energy debate paved the way for a full discussion on Integrated Reporting.

After a full discussion, the incoming chair of ABAC’s Finance & Economic Working Group, Cher Wang, chairman and co-founder of HTC, concluded that the Group needed to know more, and I am delighted to announce that ABAC will host a seminar on Integrated Reporting in Singapore this April to bring further clarity.

As I to go to roundtables and seminars I continuously hear enthusiasm from business people, investors, regulators and other stakeholders who believe that Integrated Reporting could support the much needed rebuilding of business resilience and confidence. In 2013 we will drive and harness this support and build momentum at pace.