Document is available for assessment and suggestions to July 15 on the International Integrated Reporting Council (IIRC) web portal
The International Integrated Reporting Council (IIRC) presented an international integrated reporting framework for companies at Brazil’s BM&FBOVESPA and in nine other countries. IIRC promotes the integration of financial, sustainability and governance information in corporate reports. The document will be available for consultation and suggestions (in English) for 90 days at the IIRC web portal. The Portuguese version will be published soon at the web portal of the Brazilian Institute of Corporate Governance (IBGC).
According to the framework presented by IIRC, the guiding principles for drawing up an integrated report should be: focus on strategy and guidance for the future; connectivity of information; stakeholder responsiveness; materiality and conciseness; coherence and comparability. The framework foresees companies including not only financial capital in their reports, but also information about manufactured capital, intellectual capital, human capital, social and relationship capital, and natural capital.
After the meeting with the public, there will be analysis in the second half of 2013 of the suggestions and criticism IIRC receives to July 15. In December, the IIRC Board will meet to debate and finalize the "1.0" version of the document for use by the market in 2014. The objective of the integrated report is to meet ever growing demand from investors, who wish for transparency of and easy access to this integrated information for use in their investment decisions.
The event was opened by BM&FBOVESPA CEO Edemir Pinto, with around 150 people participating. Taking part in the presentations were the four IIRC members in Brazil: University of São Paulo professor Nelson Carvalho; chair of the IBGC Board, Sandra Guerra; deputy CFO and IR Officer at Natura, Roberto Pedote; and PREVI Executive Director of Governance and Holdings, Marco Geovanne da Silva; as well as Vânia Borgerth, from BNDES, which coordinates the Brazilian monitoring committee. The event also included testimonies from representatives of the Brazilian companies that took part in the pilot project: AES BRASIL, BNDES, Natura, Petrobrás and Via Gutenberg Consultoria. During the event, the IIRC members highlighted the importance of more companies taking part in the pilot project.
The document was launched today in another nine countries: South Africa, Germany, Australia, Canada, China, the U.S., India, Japan and the UK.