The IIRC’s Board and Council, created to bring about an evolution in corporate reporting, are the foundation of our credibility and authority. Our mission is even more urgent today, driven by the world’s commitment to meeting the Sustainable Development Goals (SDGs) as well as the technology and data revolution that is transforming our economy. Governments, regulators and businesses must work together to meet these challenges – to realign capital allocation to the needs and interests of a sustainable and responsible economy.
Corporate reporting - and specifically integrated reporting - has its role to play. It shines light on the thinking and decision making of management and orients engagement between a business and its stakeholders. It guides investor decision making and is an important tool of corporate governance and risk management. It is invaluable for our understanding of strategy, the business model and how resources are allocated to create short, medium and long-term value while meeting the needs of investors and other stakeholders alike.
Driven by the evidence of what works and the experience of standard setters and framework providers, it is time to develop a comprehensive corporate reporting system: an agreed set of comprehensive standards with robust global oversight to achieve legitimacy, enabling assurance and ensuring trust. This new system would amount to a positive legacy from this generation to the next. We will use our movement’s credibility and authority, working selflessly and collaboratively with others, to bring this about.