Following the launch of the IIRC’s International <IR> Framework in December, a revised Comparative Table (click here) on the core requirements of the Integrated Reporting Framework (IR1) and the G4 Sustainability Reporting Guidelines is now available. It lists the core requirements of the IR1 and indicates alongside each the most relevant requirements of the G4.
The Comparative Table is of special use to organizations currently planning their next reporting cycle, considering a transition to <IR> whilst assessing how their sustainability reporting fits and contributes to a broader scheme of aligned communications. The given is that sustainability reporting will continue to exist (online and in other forms) alongside financial reporting and integrated reports, as presented in the graphic below. The 3d revised Comparative Table illustrates how the description of purpose, fundamental concepts, principles, content elements, preparation and presentation guidance of the IIRC and GRI compare. It also suggests which G4 indicators to consider when reporting on the six Capitals in an <IR>.
The purpose of the IR1 G4 Comparative Table is to support:
- Business managers and consultants in assessing what aspects of G4 reporting content to consider in extracting content for the more concise <IR> (targeting one specific stakeholder group);
- Participants in the networks of the International Integrated Reporting Council (IIRC), the Global Reporting Initiative (GRI) and the International Accounting Standards Board (IASB) to better define related content and complementarity between the international frameworks involved;
- Regulators to comprehend and assess the evolution of the financial and non-financial reporting landscape, considering how regulatory requirements could support take-up and disclosure of relevant information; and
- Interested stakeholders in understanding how the content of the <IR>, sustainability reporting and financial reporting connects and can be more mutually supportive.