The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, and other stakeholders. It was an international organization that existed from 2010 to 2020 and worked to promote integrated reporting as a means to enhance corporate reporting and transparency.

Key Matters and Considerations in ESG

Here are some key points about the International Integrated Reporting Council (IIRC):

– Purpose: The IIRC aimed to develop and advocate for the adoption of the Integrated Reporting framework, which seeks to provide a holistic view of an organization’s value creation over the short, medium, and long term. Integrated Reporting encourages companies to communicate their strategy, governance, performance, and prospects, including financial, environmental, social, and governance (ESG) aspects.

– Integrated Reporting Framework: The IIRC developed the Integrated Reporting Framework, which provided guidance and principles for preparing an integrated report. An integrated report aims to provide a comprehensive understanding of how an organization creates value for its stakeholders and society at large, considering both financial and non-financial aspects.

– Stakeholder Engagement: The IIRC actively engaged with various stakeholders, including companies, investors, standard setters, regulators, and civil society organizations. It sought to foster collaboration and dialogue to advance the understanding and adoption of integrated reporting globally. The IIRC conducted research, organized events, and provided guidance to support organizations in implementing integrated reporting.

– Global Adoption: The IIRC’s framework gained significant international recognition and support, and many organizations and jurisdictions around the world embraced integrated reporting. The IIRC collaborated with national and regional bodies, such as the International Organization of Securities Commissions (IOSCO) and the Global Reporting Initiative (GRI), to promote the adoption and implementation of integrated reporting.

– Transition to Value Reporting: In 2020, the IIRC merged with another organization, the Sustainability Accounting Standards Board (SASB), to form the Value Reporting Foundation (VRF). The VRF continues the work of the IIRC and SASB, focusing on advancing the evolution of corporate reporting towards a more comprehensive understanding of value creation, including financial, environmental, social, and governance factors.

It’s important to note that the International Integrated Reporting Council (IIRC) no longer exists as an independent organization. However, its work and principles continue to influence the field of corporate reporting through the ongoing efforts of the Value Reporting Foundation (VRF) and other organizations dedicated to advancing integrated and value reporting practices.