Embed Size (px)
Citation preview
Paul Druckman, CEO International Integrated Reporting Council
NGOs
Companies
Investors
Accounting
Standardsetters
Regulators
Chair: Prof Mervyn KingCEO: Paul Druckman
Who is the IIRC?
Business Network
Investor Network
IIRC Pilot Programme
Our long-term vision is a world in which integrated thinking is embedded within mainstream business practice in the public
and private sectors, facilitated by <IR> as the corporate reporting norm.
The cycle of integrated thinking and reporting, resulting in efficient and productive capital allocation, will act as forces for
financial stability and sustainability.
Long Term Vision
Entering the company through the doorway of
Julie Hudson UBS
The Framework: Fundamental Concepts
The Framework: Fundamental Concepts
The Value Creation Process
6 capitals with different combinations and connectivity
All renewable and non renewable environmental resources and processes that provide goods or services that support the past, current or future prosperity of an organization.
2.15 Natural capital
includes:• air, water, land, minerals and forests• biodiversity and eco-system health.
Examples of some of the KPIs observed in the review of Pilot Programme participants are included in the following table.
• CO2 emissions• Energy consumption per energy source • Amount of waste • Environmental accidents • Recycled waste • Environmental protection investments • Animals purchased for trials
Setting the industry standard for natural capital
1) To improve the clarity, simplicity and cohesion of using and leveraging non-financial reporting towards more integrated thinking and performance;
2) To improve access to information and capacity building for companies, governments, associations, investors, analysts and financial markets;
3) Thus to ensure that over 18,000 large enterprises in Europe can reach maturity in integrating financial and non-financial performance and be transparent about it.
European Action Plan on Non-Financial Reporting
and Integrated Performance
13
Link to National CSR Action Plan
Social partners, chambers, consultants, networks, stock
exchanges, partners
Companies, Governments, Investors, Analysts, Fin markets
18 000 companies aware and equipped on non-financial reporting and integrated performance
Link to National CSR Action Plan
Social partners, chambers, consultants, networks, stock
exchanges, partners
Companies, Governments, Investors, Analysts, Fin markets
Link to National CSR Action Plan
Social partners, chambers, consultants, networks, stock
exchanges, partners
Companies, Governments, Investors, Analysts, Fin markets
Awareness & Capacity
Local Implementation & Impact - European Coordination
IMPACT
IN E
U C
OU
NTR
IES
Awareness & Capacity
Awareness & Capacity
European Hub on Non-Financial Reporting and Integrated PerformanceContributing to an efficient and effective EU Directive and an EU Guide through aligning joint assets by e.g.:1) Mobilizing all our partners in European member states2) Mapping out local needs3) Promoting the use of quality global best practice
1. Conduct a materiality assessment, not necessarily sufficient for reporting but enough to help you understand where to focus.
2. Break the silos – relate the materiality of environmental and social indicators to traditional financial metrics.
3. Report this in an integrated way that demonstrates your integrated thinking.
Richard Mattison
Corporates - an approach
www.pwc.com/worldwatch
Natural capital accountingThe next big thing in sustainability?
“Only two of the FTSE 100 mention natural capital in their annual reports”Will Evison, PwC
“Natural capital accounting is going to become big for all businesses”Alan McGill, PwC
Emerging <IR> Database
Lawson, Inc. Integrated Report 2013
Lawson, Inc. Integrated Report 2013
Sasol annual integrated report 2013
The Crown Estate Integrated Annual Report and Accounts 2013
To build a sustainable physical network that offers the flexibility to align to changes in demand
(New Zealand Post Group LimitedStatement of Corporate Intent 2012-2015)
To develop and deliver, in an economic and sustainable way, a good customer experience, by providing effective products and services.
(New Zealand Post Group LimitedStatement of Corporate Intent 2012-2015)
To ensure long-term value creation for the Group through the further development and growth in Kiwibank.
(New Zealand Post Group LimitedStatement of Corporate Intent 2012-2015)
To ensure the internal structure, process and frameworks in operation at the New Zealand Post Group are positioned to offer the most efficient and profitable outcome for the Group
(New Zealand Post Group LimitedStatement of Corporate Intent 2012-2015)
To create a range of digital services to meet changing customer needs. (New Zealand Post Group Limited
Statement of Corporate Intent 2012-2015)
To ensure that our people have the skills and capabilities they require to succeed, and to create a culture in the organisation that enables and encourages our people to strive for great customer outcomes
(New Zealand Post Group LimitedStatement of Corporate Intent 2012-2015)
New Zealand Post Group Annual Review 2013
Nedbank Group Integrated Report 2012
Nedbank Group Integrated Report 2012
ARM Holdings plc Annual Report & Accounts 2012
ARM Holdings plc Annual Report & Accounts 2012
its more than monetising
<IR> is the natural tipping point for natural capital accounting
