Integrated Reporting Framework

ESG
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Frameworks and Standards
December 6, 2023

The Integrated Reporting Framework defines integrated reporting as ‘a process founded on integrated thinking that results in a periodic integrated report by an organisation about value creation over time and related communications regarding aspects of value creation.’ Integrated reporting brings together material information about an organisation’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. It provides a clear and concise representation of how the organisation demonstrates stewardship and how it creates value, now and in the future.

But integrated reporting isn’t just a reporting process. It’s founded on integrated thinking, or systems thinking. Integrated thinking drives an improved understanding of how value is created and enhances decision-making by boards and management. The more integrated thinking is embedded in daily operations, the more naturally this information will be expressed in internal and external communications. On this basis, integrated thinking and integrated reporting are mutually reinforcing.

Integrated Reporting Framework

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Frameworks and Standards

European Sustainability Reporting Standards

The ESRS standards are reporting standards for sustainability within the EU. The ESRS standards are an integral part of the CSRD, the Corporate Sustainability Reporting Directive of the European Parliament and the Council. This means that the ESRS reporting standards are mandatory. The adoption of the first set of 12 standards by the Commission is considered a significant step to promote sustainable practices and transparency in companies and to contribute to their comparability. This is because the new reporting requirements herald major changes in sustainability reporting and these will affect around 50,000 companies based in the EU. However, subsidiaries, branches abroad and companies that carry out a large part of their business activities in the EU area may also be indirectly affected, which is why the scope of impact can be significantly broader.
Frameworks and Standards

European Financial Reporting Advisory Group (EFRAG)

EFRAG (European Financial Reporting Advisory Group) is an independent, non-profit organization that provides advice and support to the European Union (EU) on financial reporting and accounting matters.
Frameworks and Standards

Standards

Set of criteria used by investors and other stakeholders to evaluate a company's sustainability and social responsibility practices.
Frameworks and Standards

Frameworks

A framework is a set of guidelines, principles, or best practices that provide a general structure or approach for achieving a specific goal or objective.
Frameworks and Standards

GRI

GRI (Global Reporting Initiative) is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing them with the global common language to communicate those impacts.
Frameworks and Standards

Board Governance

The role of the board of directors in relation to sustainability is becoming increasingly important as businesses recognize the need to integrate environmental, social, and governance (ESG) factors into their strategies and operations.