Paul Druckman, CEO

International Integrated Reporting Council
Who is the IIRC?

Regulators
Standard
setters

Investors
Companies

Accounting
NGOs

Chair: Prof Mervyn King
CEO: Paul Dru...
IIRC Pilot Programme

Business
Network

Investor
Network
Long Term Vision

Our long-term vision is a world in which integrated thinking is
embedded within mainstream business prac...
Entering the company
through the doorway of

Julie Hudson
UBS
The Framework: Fundamental Concepts
The Framework: Fundamental Concepts

The Value Creation Process
6 capitals with different combinations and connectivity
2.15 Natural capital

All renewable and non renewable
environmental resources and
processes that provide goods or
services...
Examples of some of the KPIs observed in the review of Pilot Programme
participants are included in the following table.
•...
European Action Plan on
Non-Financial Reporting
and Integrated Performance
1)

Setting the industry
standard for natural
c...
Local Implementation & Impact - European Coordination
18 000 companies aware and equipped on nonfinancial reporting and in...
Corporates - an approach

1. Conduct a materiality assessment, not necessarily sufficient for
reporting but enough to help...
www.pwc.com/worldwatch

Natural capital accounting
The next big thing in sustainability?
“Natural capital accounting is go...
Emerging <IR> Database
Lawson, Inc. Integrated Report 2013
Lawson, Inc. Integrated Report 2013
Sasol annual integrated report 2013
The Crown Estate Integrated Annual Report and Accounts 2013
New Zealand Post Group Annual Review 2013
To build a sustainable physical network that offers the flexibility to
align to ...
Nedbank Group Integrated Report 2012
Nedbank Group Integrated Report 2012
ARM Holdings plc Annual Report & Accounts 2012
ARM Holdings plc Annual Report & Accounts 2012
<IR> is the natural tipping point for
natural capital accounting

its more than monetising
paul.druckman@theiirc.org
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Paul Druckman - IIRC

  1. 1. Paul Druckman, CEO International Integrated Reporting Council
  2. 2. Who is the IIRC? Regulators Standard setters Investors Companies Accounting NGOs Chair: Prof Mervyn King CEO: Paul Druckman
  3. 3. IIRC Pilot Programme Business Network Investor Network
  4. 4. Long Term Vision Our long-term vision is a world in which integrated thinking is embedded within mainstream business practice in the public and private sectors, facilitated by <IR> as the corporate reporting norm. The cycle of integrated thinking and reporting, resulting in efficient and productive capital allocation, will act as forces for financial stability and sustainability.
  5. 5. Entering the company through the doorway of Julie Hudson UBS
  6. 6. The Framework: Fundamental Concepts
  7. 7. The Framework: Fundamental Concepts The Value Creation Process
  8. 8. 6 capitals with different combinations and connectivity
  9. 9. 2.15 Natural capital All renewable and non renewable environmental resources and processes that provide goods or services that support the past, current or future prosperity of an organization. includes: • air, water, land, minerals and forests • biodiversity and eco-system health.
  10. 10. Examples of some of the KPIs observed in the review of Pilot Programme participants are included in the following table. • • • • • • • CO2 emissions Energy consumption per energy source Amount of waste Environmental accidents Recycled waste Environmental protection investments Animals purchased for trials
  11. 11. European Action Plan on Non-Financial Reporting and Integrated Performance 1) Setting the industry standard for natural capital 2) 3) To improve the clarity, simplicity and cohesion of using and leveraging nonfinancial reporting towards more integrated thinking and performance; To improve access to information and capacity building for companies, governments, associations, investors, analysts and financial markets; Thus to ensure that over 18,000 large enterprises in Europe can reach maturity in integrating financial and non-financial performance and be transparent about it.
  12. 12. Local Implementation & Impact - European Coordination 18 000 companies aware and equipped on nonfinancial reporting and integrated performance IMPACT IN EU COUNTRIES Awareness & Capacity Awareness & Capacity Awareness & Capacity Companies, Governments, Investors, Analysts, Fin markets Companies, Governments, Investors, Analysts, Fin markets Companies, Governments, Investors, Analysts, Fin markets Social partners, chambers, consultants, networks, stock exchanges, partners Social partners, chambers, consultants, networks, stock exchanges, partners Social partners, chambers, consultants, networks, stock exchanges, partners Link to National CSR Action Plan Link to National CSR Action Plan Link to National CSR Action Plan European Hub on Non-Financial Reporting and Integrated Performance Contributing to an efficient and effective EU Directive and an EU Guide through aligning joint assets by e.g.: 1) 2) 3) Mobilizing all our partners in European member states Mapping out local needs Promoting the use of quality global best practice 13
  13. 13. Corporates - an approach 1. Conduct a materiality assessment, not necessarily sufficient for reporting but enough to help you understand where to focus. 2. Break the silos – relate the materiality of environmental and social indicators to traditional financial metrics. 3. Report this in an integrated way that demonstrates your integrated thinking. Richard Mattison
  14. 14. www.pwc.com/worldwatch Natural capital accounting The next big thing in sustainability? “Natural capital accounting is going to become big for all businesses” Alan McGill, PwC “Only two of the FTSE 100 mention natural capital in their annual reports” Will Evison, PwC
  15. 15. Emerging <IR> Database
  16. 16. Lawson, Inc. Integrated Report 2013
  17. 17. Lawson, Inc. Integrated Report 2013
  18. 18. Sasol annual integrated report 2013
  19. 19. The Crown Estate Integrated Annual Report and Accounts 2013
  20. 20. New Zealand Post Group Annual Review 2013 To build a sustainable physical network that offers the flexibility to align to changes in demand (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015) To develop and deliver, in an economic and sustainable way, a good customer experience, by providing effective products and services. (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015) To ensure long-term value creation for the Group through the further development and growth in Kiwibank. (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015) To ensure the internal structure, process and frameworks in operation at the New Zealand Post Group are positioned to offer the most efficient and profitable outcome for the Group (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015) To ensure that our people have the skills and capabilities they require to succeed, and to create a culture in the organisation that enables and encourages our people to strive for great customer outcomes (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015) To create a range of digital services to meet changing customer needs. (New Zealand Post Group Limited Statement of Corporate Intent 2012-2015)
  21. 21. Nedbank Group Integrated Report 2012
  22. 22. Nedbank Group Integrated Report 2012
  23. 23. ARM Holdings plc Annual Report & Accounts 2012
  24. 24. ARM Holdings plc Annual Report & Accounts 2012
  25. 25. <IR> is the natural tipping point for natural capital accounting its more than monetising
  26. 26. paul.druckman@theiirc.org

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