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First Official Integrated Reporting Event in Russia

Posted 3 October, 2012

FOR IMMEDIATE RELEASE

First Official Integrated Reporting <IR> Event in Russia
At the first official Integrated Reporting <IR> event in Russia, ROSATOM, which hosted the meeting in Moscow, led the launch of the Russian <IR> regional network.  The event, which was attended by 25 members of industry, academia, and government focused on ‘Integrated Reporting ― Opportunities and Development Prospects in Russia’.
Four speakers, including delegates from ROSATOM, KPMG, Da-Strategy and IIRC, outlined the concept and aims of <IR> and explained how it fits with existing Russian reporting practices. They shared their rationale behind adopting <IR> and they provided details of existing reporting activities.

First, Marina Galushkina, <IR> project leader at ROSATOM outlined the company’s experience of moving towards integrated reporting over the past three years.
Following Ms. Galushkina, , IIRC’s Relationship Manager for the Russian Federation, Henning Drager, stressed the need to develop a robust <IR> framework to enable optimization of companies’ financial, social, and environmental impact. Key themes were Russia’s need for much greater urgency in tackling its sustainability challenges, in overcoming transparency obstacles in the business community, and in establishing deeper stakeholder engagement. Drager also touched on next year’s G20 meeting in Moscow, emphasizing that wider industry adoption of <IR>  within Russia will provide an opportunity to showcase Russia’s commitment to sustainability and thus deepen its progressive footprint in the global landscape.

Ivan Barsola, senior consultant at KPMG corporate governance and sustainability, shared his views on international approaches to <IR> and emphasized the need to broaden the reporting boundaries and parallel development of independent <IR> assurance.
Finally Sergey Nakvasin, leader of business-line “Reporting” at consulting company “Da-Strategy”, stressed the need of greater stakeholder engagement as a key principle for preparing an integrated report.

The event ended with a shared belief that the Russian <IR> regional network will create a ‘community of IR practice’ enabling interested stakeholders to share reporting experiences and provide a Russian perspective for the on-going development of the global <IR> framework.

Finally, Russian representatives expressed their commitment to promoting <IR> throughout industry, address regulatory hurdles to wider adoption, and promote best practice through an open, transparent regional stakeholder network.