@GRIAusConf_Joining The Dots – an introduction to and trends in integrated reporting - Terence Jeyaretnam
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@GRIAusConf_Joining The Dots – an introduction to and trends in integrated reporting - Terence Jeyaretnam

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  • This is an adaptation of the funny quote that describes ‘sustainability like being teen sex’ – for those who have heard it, but I thought it was on the money…Integrated Reporting is a bit like great sexEverybody likes the idea and would love to do itBut not many really are..That said, those who are trying it are having lots of fun!And sometimes, it’s ending up in a bit of a mess!!
  • Net Balance Foundation is the non-profit arm of Net Balance that has an internal target of 20% of all of Net Balance staff time (that is 10 FTEs in our 50 person group) on research, capacity building/training and working with non-profits and charities.Net Balance Foundation has collaborated with the Association of Chartered Certified Accountants (ACCA) over the past five years to undertake research on non-financial disclosures in the ASX, on topics such as human capital, climate change, anti-bribery and corruption and corporate governance. The latest of these research pieces is what I’m about to talk about today – the embeddedness of integrated reporting in the ASX50.You can download the entire report at www.netbalance.com
  • That’s right – the secret’s out – not a lot of people are having great sex!!
  • It examined six key aspects that companies need to evolve when embarking upon integrated reporting:purpose, values and strategy - having a planmanagement approach – organising baby sitting, date, atmosphererisk management – not getting blind drunk!/appropriatecontraceptionmeasuring and managing performance – not too fast/not too slow, viagra??stakeholder engagement – finding out what each other enjoys/giving rather than taking!reporting format – make it interesting, with a few surprises – video can spice it up!
  • What can I say – some are quite good – and some – well, just don’t even know the song – “Let’s talk about sex baby”
  • What can we say about the top ten performers – let’s look at a few….Bit disappointed not to see the X rated companies – AXA and ASX?
  • At the end of the day, what can I leave you with:- Integrated reporting has to work for you and your stakeholders - If it was good for you and your partner it probably worked!Experimentation over the next few years will give some guidance on what works and what doesn’t work – that is don’t be scared to experiment a bit, spice it up and make it spontaneous – and please don’t take it too seriously!Show commitment to sustainability and reporting will become integrated over time – don’t be half-pregnant on this!If successfully implemented, integrated reporting will be a vehicle that drives the integration of sustainability into corporate strategy and day to day decision-making – good sex is a core part of a healthy and sustainable relationship…
  • they say people think of sex every seven minutes…I’ve had you thinking sex for a whole seven minutes – now the bonus is that you can get your mind out of the gutter and think about integrated reporting for a whole 49 minutes!!

@GRIAusConf_Joining The Dots – an introduction to and trends in integrated reporting - Terence Jeyaretnam @GRIAusConf_Joining The Dots – an introduction to and trends in integrated reporting - Terence Jeyaretnam Presentation Transcript

  • Joining The Dots – an introduction to and trends in integrated reporting . Chair: Rebecca Gunn, Manager, Sustainability Reporting, BHP Billiton, Member GRI Stakeholder Council Hwang Soo Chiat, Associate Professor, School of Accountancy, Singapore Management University Terence Jeyaretnam, Director, Net Balance Nick Ridehalgh, Partner, KPMG; Content Taskforce Member, IIRC Victoria Whitaker, Network Manager, Focal Point Australia, Global Reporting Initiative0
  • Integrated Reporting Like Great Sex?
  • Integrated Reporting – The best sex yet? Integrated Reporting is a bit like great sex Everybody likes the idea and would love to have it But not many really do.. That said, those who are trying it are having a bit of fun! And sometimes, it’s ending up in a bit of a mess!!2
  • Net Balance Foundation research3
  • Integrated Reporting in the ASX50| The impacts of environmental, social and governance (ESG) issues on an organisation’s bottom line are intuitively understood, e.g:  the negative impacts of the Deepwater oil spill on BP’s bottom line  the positive impacts of General Electric’s environmental strategy – ecomagination| It would therefore appear logical that an organisation’s material non- financial risks and opportunities are fully integrated into business strategy and performance reporting| However, companies that do so effectively are currently the exception rather than the norm4
  • The integrated reporting practices of the ASX50| The review evaluated the extent to which ASX50 companies have integrated the management and reporting of their financial and non-financial risks and opportunities – looked more for ‘integrated thinking’| It examined six key aspects that companies need to evolve when embarking upon integrated reporting:  purpose, values and strategy  management approach  risk management  measuring and managing performance  stakeholder engagement  reporting format 5
  • Level of Integration amongst the ASX 50 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 2 3 4 5 6 7 8 9 1011121314151617181920212223242526272829303132333435363738394041424344454647484950516
  • Results overview 100% 80% 60% 40% 20% 0% Strategy Management Risk Performanace Stakeholder Reporting management engagment7
  • Top 10 Performing Companies – Overall Integration90%80%70%60%50%40%30%20%10%0% 8
  • Concluding Comments| Integrated reporting has to work for you and your stakeholders| Experimentation over the next few years will give some guidance on what works and what doesn’t work| Show commitment to sustainability and reporting will become integrated over time| If successfully implemented, integrated reporting will be a vehicle that drives the integration of sustainability into corporate strategy and day to day decision-making 9
  • Thank You terence@netbalance.com 0448 588 041 Download report at: www.netbalance.com