Carney and Badré put Integrated Reporting on the agenda

Posted
10 October, 2014

Mark Carney, Governor of the Bank of England, and Betrand Badré, Managing Director and World Bank Group Chief Financial Officer will discuss how Integrated Reporting <IR> facilitates transparency and financial stability at the annual meetings of the WBG and IMF on 10 October in Washington.

They will look at how <IR> aims to improve the quality of information available to providers of financial capital and support integrated thinking, decision-making and actions that focus on the creation of value over the short, medium and long term.

In advance of the meeting Mark Carney said, “By improving reporting requirements for organizations, Integrated Reporting can bring additional information, in particular about the longer-term costs of climate change, to feed into markets and inform decision-making and policy-formulation by institutions. If achieved, it will lead to better-informed and more sustainable long-term investment, for the benefit of society.”

Betrand Badré said, “Public sector entities are one of the largest, if not the largest, reporting entities in the world, so the transparency of their financial information is of importance to us all. Integrated Reporting would enable governments and their stakeholders to gain a better understanding of resources available and help them to manage these more effectively.”

A panel discussion, chaired by Paul Druckman, CEO of the International Integrated Reporting Council (IIRC) will look at how <IR> can lead to fundamental changes in corporate behaviour and thinking, as organizations in both the public and private sectors adopt new ways of measuring, managing and disclosing information.

The panel will consist of:

  • Damien Walsh, Global Alliance for Banking Values and Managing Director, bankmecu
  • Russell Picot, Group Chief Accounting Officer, HSBC and Co-chair, Enhanced Disclosure Task Force (EDTF)
  • Maurício Chacur, Deputy Managing Director, Risk Management, Brazilian Development Bank (BNDES)
  • Mark Vaessen, Global Head of International Financial Reporting Standards, KPMG International.

The Annual Meetings of the International Monetary Fund and the World Bank Group each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.