Sustainable reporting merger to provide coherent global corporate system

The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) are to merge forming the Value Reporting Foundation.

The Value Reporting Foundation will support business and investor decision-making with three key resources: Integrated Thinking Principles, Integrated Reporting Framework and SASB Standards. These tools help businesses and investors develop a shared understanding of enterprise value and how it is created, preserved or eroded over time.

The Value Reporting Foundation has been tasked with the delivery of a more coherent corporate reporting system by working closely with the IFRS Foundation and other leading framework providers and standard-setters around the world.

The importance of information in all areas of business, including sustainability, is a major theme that has reoccurred across the ESG arena, and the Value Reporting Foundation is aiming to enable organisations to move from buy-in to action. By more closely aligning the Integrated Reporting Framework and the SASB Standards, the Value Reporting Foundation should make it easier for businesses to communicate their long-term strategy and provide a more comprehensive view of business performance to investors and other providers of capital.

Graeme Pitkethly, CFO of Unilever gave his support, saying: “Unilever advocates for a multi-stakeholder business model. Integrated reporting is a key enabler ensuring business risks are clearly understood, and that there is comparable reporting. We hope this merger will be a catalyst for the harmonisation of sustainability standards and metrics.”

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