Through engaging with influential decision-makers worldwide, the IIRC is calling for three gear shifts in terms of global economic governance.
The first is a shift from financial capital market system to inclusive capital market system. The IIRC is encouraging Governments, central banks, stock exchanges and standard setters to recognize the interconnection between finance, people, planet and knowledge, and embed systems of governance and reporting that enable integrated thinking and reporting to become mainstream.
The second is a shift from short-term capital markets to sustainable capital markets. To end the incentive systems that perpetuate short-term thinking and decision-making, the IIRC is encouraging the introduction of reporting codes focused on strategy, resource allocation and value creation over the short, medium and long-term.
Finally, a shift from silo reporting to integrated reporting. The IIRC is leading the drive to bring about a corporate reporting system that is both principles-based and cohesive, and urging policymakers to remove all regulatory barriers to integrated reporting adoption and introduce policies that are consistent with its principles of connectivity of information, multiple capitals and future orientation.