When the economic crisis hit many more than a handful of people became harbingers of CSR and Sustainability doom, how wrong they were. Not only has the disasters at the hands of financiers and governments cemented the responsibility agenda at the heart of mainstream business philosophy, it specifically lit the fuse on a new group with one thing on its mind.
Today the International Integrated Reporting Committee (IIRC) launches it’s ‘landmark approach to corporate reporting‘, and calls for feedback on their Discussion Paper called Towards Integrated Reporting – Communicating Value in the 21st Century.
The IIRC is a group of global businesses, investors, academia, civil society, UN leaders and His Responsible Highness The Prince of Wales (see video below) aiming to update the way businesses demonstrate their accountability.
What is Integrated Reporting you ask?
Integrated Reporting brings together material information about an organisations strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. It provides clear and concise representation of how an organisation demonstrates stewardship and how it creates and sustains value. An Integrated Report should be an organisations primary reporting vehicle.
It could very well be another next step forward toward validating the apparently elusive (to some) business case for CSR
According to the press release:
The development of Integrated Reporting is designed to enhance and consolidate existing reporting practices to move towards a reporting framework that provides the information needed to develop the global economic model to meet the challenges of the twenty-first century. Integrated Reporting will be clear and comprehensible, providing a meaningful assessment of the long-term viability of an organisation, meeting the information needs of investors and other stakeholders, and supporting the effective allocation of financial, manufactured, human, intellectual, natural and social capital.
If reporting is part of your day job please take the time to read and feedback on the Discussion Paper and also pass on to through your networks and to your colleagues.
Visit the IIRC website at http://www.theiirc.org/